News “Saving is rather unsexy for many young people”

News “Saving is rather unsexy for many young people” News always well informed

Wednesday, 04.10.17 , written by Annabell Meyer Investment and saving are for many young people rather tiresome issues that they are reluctant to think. If they put money back, and above all to fulfill their wish with the savings, Dr. Yassin Hankir, founder of the savings app savedroid. His goal is to Junge Menschen sollen Spaß am Sparen bekommen

The latest smartphone, replace the old wardrobe or the long-awaited dream vacation – without having put aside some money, such requests for some people are difficult to achieve. But only very few like to deal with various savings models or investment concepts.

Especially for young people, these topics are rather unsexy. Yassin Hankir of the savings app savedroid noted. The app should not only help them to fulfill their dreams, but also offer fun saving . According to Hankir, it is important to make making reserves as easy as possible and to include them in everyday life. How this works and what role so-called smooves play in this, he explains in an interview with

Your app is aimed primarily at young people who are reluctant to deal with the topic of money or saving. How do you help your users enjoy saving?

Dr. Yassin Hankir: Before we decided to start savedroid, we have indeed found that the topic of saving is unsexy for many people. Especially in the generation of 18- to 40-year-olds, who are primarily our target group, it turns out that many people prefer to go to the dentist, rather than to deal with banking transactions. Nevertheless, they often want to afford certain things that they can not just pay from the petty cash. Saving for them is therefore primarily a means to an end , in order to be able to finance a new mobile phone or an expensive holiday trip at short notice.

This is exactly where our concept begins. We want to offer young people a way to fulfill their wishes quickly. An important idea here is that customers enjoy having to save on their goal. Therefore, the concept is not based on a classic banking app, but rather on a lifestyle app that can inspire users.

Is the savedroid model also a long-term investment or is there, for example, a maximum amount that can be saved?

Dr. Yassin Hankir: In principle, there are no requirements for our users as to how much money they can cover or over what period they are allowed to save. However, we have so far experienced that our target group first and foremost has an eye on consumption, that is, as quickly as possible towards a specific goal . For most customers, the savings period is between six and 18 months. Of course, some users also have longer-term goals. Our aim is to provide them with an even wider offer for their investment in the future, also in order to expand our target group. At the moment, however, the concept is rather short-term.

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Your users can use so-called Smooves to decide how they want to save. What is meant by this and how flexible are these smooves?

Dr. Yassin Hankir: Smooves are savings rules. This allows users to decide themselves in which life situation they want to save. The Smooves can be classified into three major areas:

  • Transactions in the checking account
  • Apps and everything about the mobile phone
  • Publicly available information

For example, customers can always save when their salary arrives on the checking account, or when they have reached a specific step goal, according to the Fitness Tracker, and also when the favorite football team wins. The austerity rules can be determined depending on the individual everyday life and can be paused at any time, if savers want to just do not want to put any money back at a certain time.

The app has access to highly sensitive information such as user account information. How do you ensure that the data does not fall into the wrong hands?

Dr. Yassin Hankir: In general, we do not see any big concerns about privacy. Because, for example, we deliberately obtained TÜV data protection certification in order to ensure data security and to be able to eliminate potential doubts directly. On the one hand , the data is encrypted with the standards of online banking , on the other hand, it is only stored within Europe. Thus, we fulfill the Germany-wide data protection law and ensure that the information does not leave Europe.

How is Savedroid’s savings model accepted so far?

Dr. Yassin Hankir: In less than a year since the app was launched, we’ve seen around 200,000 downloads. In addition, the feedback from our users is generally very positive, which of course is particularly important. Because many downloads alone do not make a successful product. But the quality must be right . At the moment we seem to fulfill the expectations of our customers well. However, we also use the feedback to continuously develop and improve our concept.

Thank you very much for the interview, Dr. Hankir.

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  • Annabell Meyer
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