A new subscription-only bank Aion has launched in Belgium designed to help customers maximise their money.

The new bank features an AI-powered service called MoneyMax, which encourages customers to earn money on their savings, save money on household bills and spend less on online purchases.

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Vic Walia, CMO at Aion, said: “Members can earn more, spend less, and save more when they use MoneyMax. “Enabled by AI, MoneyMax™ searches for lower loan interest rates, finds ways to cut household utility bills, and compares online shopping with lower price alternatives.”

Aion will open a flagship branch, located on Avenue de la Toison d’Or in Brussels, later this month.

The offering 

In addition, the Belgian bank offers an ETF Asset Management product and Personal Concierge service to all its members.

Wojciech Sobieraj, CEO of Aion, said: “Moving money, withdrawing money, investing money, exchanging money, borrowing money, and even saving money shouldn’t cost you money. Aion is on a mission to change the way banking is done. Instead of trying to upsell and maximise profits per customer, Aion charges a flat subscription fee.”

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Aion’s subscription model has eliminated charges such as ATM fees, currency exchange fees, fees to invest and fees to withdraw. The aim is to help members maximise their money.

Furthermore, Aion is backed by global investment firm Warburg Pincus.

Daniel Zilberman, managing director and head of Europe at Warburg Pincus, explained how Aion will benefit the Belgian market.

“Aion will revolutionise the financial services market in Belgium. “Aion’s cloud-based proposition has been designed to deliver unparallelled services, value and trust to both individual and business customers, via an easy to use app.”

As of March 2, customers can download the Aion mobile app on iOS or Android devices.