Quirin Privatbank and Upvest Partner to Modernize German Wealth Management Infrastructure

Quirin Privatbank and its robo-advisor quirion are migrating their €11 billion investment infrastructure to Upvest’s cloud-native platform. This partnership, representing one of the largest infrastructure migrations in German private banking, facilitates the 2027 launch of the state-subsidised Altersvorsorgedepot pension product while enabling AI-driven portfolio management and real-time data integration for over 118,000 clients.

What was announced

Quirin Privatbank and quirion have entered a partnership with Upvest to modernise their end-to-end investment infrastructure. The collaboration is designed to replace legacy systems with an API-first, cloud-native environment, supporting discretionary portfolio management across both the bank’s traditional advisory business and its digital robo-advisory arm. The migration will occur in phases, beginning with the launch of the Altersvorsorgedepot in early 2027. This new product is a central component of Germany’s pension reform, replacing the Riester-Rente to provide a tax-efficient, flexible retirement investment vehicle.

The transition involves migrating more than €11 billion in assets under management (AuM). Following the initial pension product launch, quirion’s existing and new users will be moved to the Upvest infrastructure, with Quirin Privatbank’s private banking investment business following in a second phase. By leveraging Upvest’s portfolio engine, the bank intends to automate portfolio construction for custom mandates and rebalancing at scale. The technical integration includes order execution, settlement, custody, and reporting, alongside support for modern features such as savings plans and fractional investing. Furthermore, the real-time availability of data across the value chain is intended to enhance the capabilities of quirion.AI, the group’s generative advisory and financial planning tool.

"We are building an integrated, highly scalable platform for both Quirin Privatbank and quirion – from front-end to back-end. Upvest is a key building block on that journey: its regulated, API-first infrastructure enables us to launch the Altersvorsorgedepot at scale and offer hundreds of thousands of clients a transparent, low-cost path to retirement investing. This is the starting point for modernising our entire investment value chain."

Sebastian Böttner, CIO of Quirin Privatbank

The companies involved

Upvest is a European investment infrastructure provider that offers a regulated, API-first platform designed to help financial institutions offer investment products at scale. The company provides the technical and regulatory backbone for various investment use cases, including stocks, ETFs, and fractional trading. Quirin Privatbank is a German financial institution that distinguishes itself through a fee-based, independent advisory model, moving away from the commission-based structures prevalent in the domestic market. It focuses on providing tailored investment strategies for affluent investors based on individual financial goals. Its subsidiary, quirion, is a prominent German robo-advisor that caters to a broader retail demographic. In 2025, quirion reported a 20% growth in its assets under management. Together, the two entities manage wealth for a combined user base of over 118,000 end users, positioning the group as a significant player in the German wealth management sector.

What FF News has reported before

Upvest has been a frequent subject of coverage as it expands its footprint across the European investment landscape. FF News recently reported on Plum Selects Upvest to Power UK Investment Infrastructure in Major Expansion, which highlighted the provider's role in facilitating cross-border scaling for fintechs. The infrastructure's ability to support low-cost entry points for retail investors was also noted in our coverage of Mintos Disrupts European Wealth Management with Zero-Fee ETF Investing from €1. While the market sees various approaches to retail engagement, such as Zopa Bank Launches UK-First Targeted Support to Help 15 Million Brits Start Investing, this latest partnership marks a significant move into the specific regulatory requirements of German pension reform.

What this means

This migration signals a definitive shift in how established private banks approach their back-end technology. By outsourcing core investment infrastructure to an API-first provider, Quirin is prioritising speed-to-market for complex, regulated products like the Altersvorsorgedepot. This move puts significant pressure on traditional core banking providers who may struggle to offer the real-time data flexibility required for modern generative AI tools and automated rebalancing. The success of this transition will likely serve as a benchmark for the industry, raising questions about whether legacy institutions can remain competitive without adopting similar "wealth-as-a-service" models to handle the increasing complexity of national pension reforms and retail demand for fractional assets.