Press Release Fintiba GmbH
Health insurance the easy way: Fintiba presents an innovative app-based solution “Fintiba Plus” for international students
Frankfurt-based start-up extends online solutions for German visa provision
Fintiba, together with its partners DAK, MAWISTA and Sutor Bank, has developed a fully digital online solution to meet visa and university requirements to prove sufficient financial means as well as sufficient health insurance coverage. After having revolutionised the market with the first online blocked account in Germany in 2017, Fintiba now reduces the complexity for international students needing necessary health insurance cover. This way the visa process is sped up and improves the attractiveness of Germany as an international study destination.
Frankfurt, 14 June 2018
In mid-2017, more than 355,000 international students were enrolled at German universities for the first time in history. This means that the target of 350,000 international students set by universities and politicians for 2020 has already been reached much earlier than expected. This is a pleasing figure in view of the high competition for clever and qualified specialists. However, international students often have to overcome major hurdles on their way to Germany. The high level of bureaucracy and especially a cumbersome and lengthy visa process is often the decisive factor against the country.
Fintiba specialises in the needs of international students on their way to Germany and offers app-based solutions to make their life abroad easier.
New Fintiba Plus solution
In 2017 Fintiba together with Sutor Bank brought the first online blocked account to Germany. Fintiba now presents the tailor-made solution Fintiba Plus, which is the first online offer that includes the blocked account together with the required health insurance within one solution – covering all requirements for the visa appointment, a potential language course and enrolment at university. When choosing the right health insurance an international student needs to take many factors into account: coverage for travelling to Germany, age and study time during enrolment, potential preparational courses etc. Depending on the personal situation, a student might require temporary private health coverage (or not), might be applicable to statutory health coverage (or not) and might require additional incoming (travel) insurance coverage to obtain a visa (or not).
With Fintiba Plus, students only need to provide a few personal details and Fintiba takes care of what is really needed. In order to do so, Fintiba bundles private health insurance solutions from MAWISTA, statutory health insurance from DAK and the blocked account from Sutor Bank tailored to the individual needs of the student.
Like the Fintiba blocked account, Fintiba Plus is officially approved by the German Federal Foreign Office.
Fintiba Study Guide for Germany
Along with the new Fintiba Plus offer, Fintiba introduced an online Study Guide for Germany, which was developed out of all the questions that clients and friends have asked about how things work in Germany. The digital service that is accessible in the Fintiba app is free to use for clients. It provides customised information exactly at the relevant stage of the students’ journey. Thus, this makes orientation on the way to Germany and during the start at university even easier.
“We are very proud to be able to count several tens of thousands of customers after only one and a half years on the market – and several hundred are added every week. With our offer, we have managed to digitize previously complex manual processes. In the future we want to expand our offer even further and offer international students all services from a single source,” says Bastian Krieghoff of Fintiba. Since its foundation, the company has increased its number of employees to currently 25. With more than eleven nationalities, Fintiba also lives its internationality in its own team.
60329 Frankfurt am Main
Founded in 2016, Fintiba offers digital services for international students to ease the way to study in Germany.
Fintiba is the first online blocked account provider in Germany and is officially approved by the German Federal Foreign Office. With customers from over 160 countries, Fintiba has built up extensive knowledge about the demands and requirements of international students wishing to study in Germany. The company is supported by WI-Bank, the innovation- and development bank of the state of Hesse via the means of an innovation and growth loan. Preparing the visa application has never been easier for an international student – everything fully digital and app-based. Find more information on www.fintiba.com.
About the Sutor Bank:
Founded in 1921, the Sutor Bank is based in Hamburg and is one of the few real independent private banks in Germany. Sutor Bank’s banking platform offers fintech startups and other digital companies the products, processes and systems they need from a licensed bank for the implementation of their business models. Furthermore, the bank supports the development of the regulatory set-up. The platform covers all essential banking areas: savings and investments, payments and money transactions as well as loans. The partners have access to Sutor Bank’s product services via interfaces (APIs).
DAK-Gesundheit is one of Germany’s biggest statutory health insurers and one of the longest established, with more than 230 years of experience. Around 5.8 million people put their trust in DAK-Gesundheit and its wide-ranging and reliable services, expertise and foresight. Individual insurance solutions that are tailored to individual needs are at the core of DAK-Gesundheit’s service.
MAWISTA GmbH, based in Wendlingen near Stuttgart, specialises in international health insurance and is the market leader for students in this field. More than 500,000 people have already opted for MAWISTA’s tariffs. The specialist cooperates with all universities and the Max Planck Institutes and is one of the most important providers in the field of international health insurance. The main risk carrier for MAWISTA products is Allianz Worldwide Partners – AWP P&C S.A.