Germany-based Quirin Privatbank and quirion have partnered with Upvest to migrate their investment business to its API-based infrastructure.
The agreement makes Upvest the investment infrastructure provider for Quirin Privatbank and its digital investment subsidiary quirion, covering brokerage, custody, and settlement. The first product to run on the new set-up will be the Altersvorsorgedepot, Germany’s state-subsidised pension product, which the companies plan to launch in early 2027. Wider client migrations will follow in stages.
Pension reform as the entry point
The Altersvorsorgedepot replaces the Riester-Rente as part of Germany’s pension reform. It gives savers a tax-efficient way to invest for retirement, with more flexible investment options than the scheme it succeeds. Using Upvest’s Investment API, Quirin Privatbank intends to target the roughly 83% of Germans who do not currently invest. Launching the product when it first becomes available would put the group among the first providers to offer it.
According to Sebastian Böttner, CIO of Quirin Privatbank, the group is building one scalable platform for both brands, from front end to back end. Böttner added that Upvest’s regulated infrastructure will allow the bank to roll out the pension product to hundreds of thousands of clients and described the launch as the first step in modernising the group’s full investment value chain.
Phased migration and portfolio automation
After the pension launch, new and existing quirion users will move to Upvest’s infrastructure. Quirin Privatbank’s private banking investment business will follow in a second phase.
A central component is Upvest’s portfolio engine. It will support discretionary portfolio management across quirion’s robo-advisory service and the bank’s private banking unit, automating portfolio construction for custom mandates and rebalancing at scale. The infrastructure also handles order execution, settlement, custody, and reporting, and supports savings plans, fractional investing, and an end-to-end pension offering. Real-time data across the value chain is expected to support further development of quirion.AI, the group’s financial planning and generative advisory tool.
Scale and market context
As of June 2026, Quirin Privatbank and quirion managed EUR 11.1 billion in assets for around 118,000 clients. Quirin Privatbank, which operates 15 locations in Germany, dropped commissions in 2006 and has advised clients on a fee-only basis since. quirion, founded in 2013, grew its assets under management by 20% in 2025.
For Upvest, the deal adds a fee-based private bank to a client base made up largely of fintechs and digital banks. Martin Kassing, co-founder and CEO of Upvest, said the partnership extends beyond a single product. In Kassing’s view, modern infrastructure is the precondition for offering AI-enabled, personalised wealth management at scale.
