Gimme5 and Conto Lingotto enter Nexi Open, Nexi’s ecosystem for open banking

Gimme5 (AcomeA sgr’s digital solution that allows you to invest even small amounts) and Conto Lingotto (Confinvest’s online wealth management platform) have become part of Nexi Open, the open banking ecosystem of Nexi, the Italian paytech listed on Piazza Affari and 19.976% owned by Advent International, Bain Capital and Clessidra. According to the agreements, Gimme5 and Conto Lingotto services will be available on Nexi Open for all partner banks of the paytech.

Gimme5 is the fintech platform that allows you to manage your savings directly from your smartphone, a digital piggy bank where you can set aside small amounts, starting from 5 euros. The savings set aside are then invested in mutual funds. There are no obligations or constraints: as with a traditional piggy bank, each user is free to decide if and when to add new savings or ask for a refund. There are also several automatic provisioning options available to users. Gimme5 is based on the principle of saving by objectives: each user can set from 1 to 5 and for each choose between different investment profiles based on their risk appetite.

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Gimme5’s clients can also invest in Individual Savings Plans

In March 2019, Gimme5, together with the Italian fintech platform Fabrick, controlled by Gruppo Sella, and the international fund distribution infrastructure Fundsquare, successfully tested the subscription of mutual fund shares through the FundsDLT platform, based on blockchain technology, and through the Fabrick open banking platform. From May 2020, Gimme5’s clients can also invest in the Pir (Individual Savings Plans) AcomeA Italia and AcomeA Patrimoni Esente funds, starting from €5 and with a free and flexible Pac (Capital Accumulation Plan).

AcomeA is an independent asset management company founded in 2010, when a group of managers and entrepreneurs from Anima sgr (Alberto Foà, still at the helm of the sgr, Giordano Martinelli, Roberto Brasca and Giovanni Brambilla) has taken over from Fondiaria Sai Group the Sai Asset Management sgr, then renaming it AcomeA sgr.

Conto Lingotto, an online wealth management platform accessible from all devices, allows the opening of an account for the purchase and sale of gold, suitable for all portfolios: Confinvest’s solution allows the purchase of physical gold, even for small amounts, to activate an accumulation plan in physical gold with predefined purchases, to request the resale of the gold in one’s possession with instant credit, but also to have grams of gold sent to one’s home in the form of bars certified by lbma (London Bullion Market Association). The service also allows you to monitor the price of gold in real time, and provides 100% insured custody of gold purchased, with exclusive ownership of the customer.

“Through these partnerships Nexi allows banks to offer their customers two distinctive services, with an optimal user experience and highly innovative: Gimme5 allows you to manage your savings directly from your smartphone, Conto Lingotto allows you to invest in physical gold by exploiting the potential of digital. These are solutions that meet the needs of many citizens. This is why we are pleased to have signed these agreements: they allow us to expand the range of digital payment services and to take a further step in the transition to the cashless society,” commented Gianluca Finistauri, Head of Digital Corporate Banking at Nexi.

Giordano Martinelli, senior partner of Gimme5, explained: “Gimme5 summarizes all the advantages arising from the digitization of financial services, it is a tool to approach savings and investments in a conscious, simple and innovative way. Today, this partnership represents an important development opportunity for us to strengthen our market positioning and take full advantage of the opportunities offered by open banking. In this context, our goal is to offer traditional players the possibility to quickly enrich their offer of investment services in total security and regulatory compliance. In this way, they will be able to offer their clients a solution for the professional management of savings within the reach of everyone, with a personalized service and a high level customer experience”.

Giacomo Andreoli, CEO of Confinvest, added: “The partnership with Nexi represents a further fundamental step in the development of Conto Lingotto. This agreement is part of the broader strategic drivers, which aim to implement our white label solution, making it available to a wide range of banking and financial operators. We offer Nexi, a widespread and innovative player of excellence, a fintech solution designed to facilitate open banking, increasing its possible applications, and able to give anyone the opportunity to invest in gold in an agile and secure way. We are certain, both from the point of view of expertise and know-how, that this collaboration can generate excellent synergies.”

Other companies that have joined Nexi Open

In addition to Conto Lingotto and Gimme5, also part of Nexi Open are: UK fintech companies Meniga and Ebury; Conio, an Italian fintech startup specializing in blockchain-based services for banks, insurance companies, enterprises and public and private institutions; online insurance company Net Insurance; Microsoft; and consulting firm Bain & Co. Nexi in February 2020 together with Unicredit and Plug and Play, a Silicon Valley company that has already created the world’s largest open innovation platform, launched Plug and Play Italy, a new fintech hub in Italy, based in Milan.

Advent International, Bain Capital and Clessidra had bought control of Nexi (which was then still called Icbpi) in 2015, and had then split the payment business on one side and the custodian bank business on the other, which had been channeled into DEPOBank. The funds had then listed the new Nexi group dedicated to payment activities in April 2019 and then progressively reduced their stake in Nexi. In October 2020, the three funds reduced their position to the current 20% following a final accelerated bookbuilding transaction. Last February, Nexi placed €1 billion of senior unsecured equity-linked bonds maturing in 2028 and bearing no interest. The bonds are listed on the Vienna Stock Exchange. The proceeds of the bond will be used to refinance part of the debt of the Danish Nets, which will be merged with Nexi with a paper-for-paper transaction worth 7.8 billion euros and more generally to further strengthen the liquidity position, also in view of the other planned merger, the one with Sia, following the agreement closed in October 2020. The two operations will create the European leader in electronic payments.

In 2020, Nexi Group reported Ebitda of $724.3 million (€601.4 million), up 2.5%, against revenues down 2.8% to around $1.25 billion (€1.04 billion) and net financial debt of $2.57 billion (€2.13 billion) from $1.7 billion (€1.4 billion) at the end of December. That followed the issuance of $602 million (€500 million) of senior unsecured equity-linked bonds maturing in 2027 to finance part of the consideration provided for the acquisition of the merchant acquiring business from Intesa Sanpaolo, with the bank in turn acquiring 9.9% of Nexi from Mercury

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