Fintechs and start-ups have been flooding the retail banking market for the best part of a decade now, but there is only a small number of wealthtechs making a splash. Everon wants to change that. Patrick Brusnahan and Anika Sidhika write

Founded in 2019, Everon is the first independent Swiss digital private banking solution for wealthy and high-net-worth individuals. 

It offers high-quality investment possibilities and financial services via an all-in-one app that includes additional human advising services. 

‘’We believe that most private banking services can be digitalised, making them cheaper and enabling a broader audience to access them,’’ said Florian Rümmelein, Everon co-founder, speaking to PBI. 

While private banking typically requires a minimum commitment of half a million to a million, Everon’s asset management begins at just CHF30,000 ($33,695).

PBI: Why start Everon? 

Florian Rümmelein: We founded the company in 2019.  

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

And we’re servicing all individuals, where we noticed that there was no suitable offering for people who are looking for independent support, or access to professional investment opportunities.  

To offer an interesting service for them that helps them to build wealth over them over their lifetime. 

PBI: What is your USP, and why do you think that is?  

Florian Rümmelein: First reason is that the entry thresholds that we have, are very low in comparison to traditional private banking providers.  

We’re currently requesting a minimum of 50,000 Swiss francs for Swiss residents and 100,000 Swiss francs for foreign residents.  

When we talk about foreign clients, the biggest USP is just they’re able to access with private banking without the needs of depositing three, four or 5 million and more.  

The second one was most clients that come to us are kind of looking for a combination between digital experience but still having human interaction.  

Financial service providers in Switzerland are just offering a well and very standardised, more sales-oriented service so that’s one of the issues that we try to fix them.  

Last point, especially for foreign clients. We have been servicing foreign clients since beginning of this year. And this is also pretty special because Switzerland is still very active when it comes to offshore private banking.  

But the entry hurdles increased dramatically in the last year. We are the first wealthtech in Switzerland that offer those services again, to foreign clients who would like to book their funds here in Switzerland. 

PBI: Who is your typical client?  

Florian Rümmelein: Our typical client is next generation.  

They are inheriting money, build up some kind of wealth.  

And for Swiss clients, most of them deposit the majority of their wealth with us. When it comes to foreign clients, I would say what we see right now is diversification.  

PBI: Who are you competing with?  

Florian Rümmelein: Mostly traditional, regional, private banks when we get our clients from, so we do not get clients, you know, from other fintech’s because the clients we serve as are not yet serviced by fintech.

PBI: So, as mentioned before, you want a mix of digital and traditional engagement. How do they slant further, more to either of them or approximately 50/50? 

Florian Rümmelein: We would like to make it as human as possible and as digital as needed. So, all those steps where we think a human being is not generating any additional value.  

For instance, typing in your personal information, signing a contract identifying yourself, a client can do this better by himself. When it comes to advising the client, which investment solutions to choose, which strategies when it comes to planning the financial situation holistically, we see an added value if you have somebody to talk to. 

 This transfers trust to the clients.  

So therefore, we try to have a hybrid model in place when it comes to questions that we can support the client with, but if those are things that the client can do better by himself, he can use the mobile application we have today.  

PBI: What are Everon’s goals for the next five years? 

Florian Rümmelein: We want to go abroad.  

We are focusing especially on Western Eastern Europe. Within the next five years, I would like to extend to Middle East and Asia.  

Our goal is really to be an established player when it comes to Swiss private banking in Western and Eastern Europe and make the steps towards Middle East and Asia.  

We would like to achieve within the next five years is 1 billion assets under management.  

PBI: Any idea which country you will start with first? 

Florian Rümmelein: We want to focus on countries which are a bit, let’s say, less developed from a financial perspective.  

Where the political situation is a bit more unstable, we would like to focus especially on Eastern Europe right now, because of the macroeconomic environments.