Brand New Day

Brand New Day N.V. operates as an online bank in the Netherlands, specializing in financial products for savings, investments, and supplemental pensions. The company was established in 2010 by Kalo Bagijn and Thierry Schaap, the entrepreneurial duo who previously founded the online investment bank BinckBank in 2000. Their experience with BinckBank, which became a market leader in online investing, revealed an opportunity to disrupt another financial sector: pensions. They identified that the Dutch market was saturated with approximately 7 million overpriced and opaque insurance policies, known as 'woekerpolissen'. In response, they launched Brand New Day from an attic room with a straightforward mission: to provide fair, low-cost, and transparent pension and investment products coupled with excellent service.

The business model is centered on providing simple, online-first financial products directly to consumers, eliminating the high hidden costs often associated with traditional banks and insurers. Brand New Day generates revenue through fees on its savings and investment products, but it is committed to keeping these costs low to build customer trust and long-term value. The company's philosophy is described as "Calvinist in costs, Burgundian in service," reflecting a focus on operational frugality while delivering high-quality customer support. Their investment strategy is based on a scientific, long-term approach, utilizing broadly diversified index funds and advising clients against market timing. The target market consists of individuals in the Netherlands seeking to build supplemental pension pots, including self-employed individuals and those in traditional employment who feel their pension provisions are insufficient.

The company's product suite includes tax-advantaged pension accounts for both saving and investing, standard investment accounts, and savings accounts. A key feature is the clear fee structure and the absence of hidden charges, which was a direct response to the 'woekerpolis' affair that exposed exorbitant costs in many insurance-based investment products. Significant milestones include obtaining a license to offer insurance in 2012 and a full banking license in 2017, a notable achievement for a relatively new financial institution. In 2021, the company sharpened its focus on the private retail market by selling its 50% stake in its corporate pension joint venture (Brand New Day PPI) to its partner, ASR Nederland, for €70 million. As of 2024, Brand New Day manages approximately €8 billion in assets for over 350,000 customers.

Keywords: online banking, pension planning, personal investment, retirement savings, index fund investing, low-cost brokerage, financial services, Dutch pension market, fintech, wealth management, personal finance, tax-advantaged savings, investment accounts, long-term investing, online stock trading, asset management, retirement accounts, financial planning, self-directed investing, supplemental pension