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Vivid is a new challenger bank built on top of solarisBank

Romain Dillet

Meet Vivid, a new challenger bank launching in Germany that promises low fees and an integrated cashback program. The two co-founders, Alexander Emeshev and Artem Yamanov, previously worked as executives for Russian bank Tinkoff Bank.

Vivid doesn’t try to reinvent the wheel and is building its product on top of well-established players. It relies on solarisBank for the banking infrastructure, a German company with a banking license that provides banking services as APIs to other fintech companies. As for debit cards, Vivid is working with Visa.

If you live in Germany and want to sign up to Vivid, you can expect a lot of features that you can find in other challenger banks, such as N26, but with a few additional features. Vivid users get a current account and a debit card. They can then manage their money from the mobile app.

The physical Vivid card doesn’t feature any identifiable details — there’s no card number, expiry date or CVV. Just like Apple’s credit card in the U.S., you have to check the mobile app to see those details. Every time you make a purchase, you receive a notification. You can lock and unlock your card from the app. The card works in Google Pay but not yet in Apple Pay.

In order to make money management easier, Vivid lets you create pockets. Those are sub-accounts presented in a grid view, like on Lydia or N26 Spaces. You can move money between pockets by swiping your finger from one pocket to another. Each pocket has its own IBAN.

You can associate your card with any pocket. Soon, you’ll also be able to share a pocket with another Vivid user. Like on Revolut, you can exchange money to another currency. The company adds a small markup fee but doesn’t share more details.

As for the cashback feature, the startup focuses on a handful of partnerships. You can earn 5% on purchases at REWE, Lieferando, BoFrost, Eismann, HelloFresh and Too Good To Go, and 10% on online subscriptions, such as Netflix, Prime Video, Disney+ and Nintendo Switch Online. While it’s generous, you’re limited to €20 maximum in cash back per month.

Interestingly, Vivid also wants to bring back Foursquare-style mayorship. If you often go to the same bar or café and you spend more than any other Vivid user over a two-week window, you become the mayor and receive 10% cashback.

Vivid has two plans — a free plan and a Vivid Prime subscription for €9.90 per month. Prime users receive a metal card, more cash back on everyday purchases and higher withdrawal limits.

The company plans to launch stock and ETF trading in the coming months. Vivid also plans to expand into other European countries this year.

Vivid is entering a crowded market, but already offers a solid product if everything works as expected. It’s going to be interesting to see how the product evolves and if they can attract a large user base.