additiv Powers Coop Finance+ Superapp with Embedded Banking Services

On October 24, 2023, additiv announced it had powered the launch of Coop Finance+, a superapp from Swiss retailer Coop that integrates embedded banking, payments, and pension services into a single consumer platform. additiv's API-first, cloud-native orchestration platform serves as the middleware connecting Coop's front-end experience with licensed banking partners, notably Hypothekarbank Lenzburg. The solution allows Coop customers to access financial services seamlessly within an app primarily associated with grocery and retail shopping. Payment transactions, account management, and pension solutions are all orchestrated through additiv's platform without Coop needing a banking license.

The partnership exemplifies the BaaS model where a non-financial brand embeds regulated financial products via a technology orchestrator and bank partner. The deployment demonstrates the growing appetite among major European retailers to offer financial services as a customer engagement and revenue strategy.