Heidelberg and Berlin, October 27, 2017. From now on, consumers will find searching for high-quality financial advice online easier. Berlin-based Expert Systems AG, operators of ratings platform ProvenExpert.com and Defino Institute for Financial Standards GmbH in Heidelberg are pleased to announce the linking of their portals. By clicking on either portal, discerning consumers will be able to see at a glance how advisors and brokers have been evaluated by other customers, and whether they are certified according to the standardized German Institute for Standardization (DIN) framework.
The aim of this cooperation is to provided a more unified financial consulting experience, increase transparency both within and without the finance industry and enhance customer satisfaction. DIN standards initiated by Defino at the German Institute for Standardization are used as a basis. At present, 39 representatives from the areas of consumer protection, finance and economics are working on the first DIN financial consulting standard in Germany, known as DIN standard 77230, "Basic analysis of the financial situation of private households". From this point on, ProvenExpert.com will display Defino certifications as a form of quality standard on their website, in addition to rating seals. Remo Fyda, CEO of ProvenExpert, says "The combination of quality standards and professionally generated customer evaluations offer customers a valuable guide for choosing the financial consulting they need."
The linking of these portals enables financial advisors and agents to further solidify their position online. They will benefit in particular from the autonomy of both stakeholders. "Financial services regulatory requirements IDD and Mifid II mean that customers will from now on be protected under special policy. Via ProvenExpert and the Defino broker register, consultants and brokers can demonstrate, on neutral ground, that they are beholden to these values."
Formed in 2011 with headquarters in Heidelberg, DEFINO Institute for Financial Standards GmbH is a company founded specifically for the development of standards and norms in the field of financial services. The institute works closely together with the German Institute for Standardization (DIN) as well as academics, consumer protection organizations and experts in the financial services industry. DEFINO Institute was nominated for the Oskar Patzelt Foundation "Award for Mid-sized Enterprises" in 2017.
In 2013, a regulatory framework created by DEFINO was developed further in cooperation with other industry participants to form DIN SPEC 77222 "Standardized Financial Analysis for Private Households". This standard is currently being developed further into a DIN standard by a committee of 39 figures from the industry. The development of this standard involves the cooperation of consumer protection experts, economists and associations with representatives from banks, insurance companies and distributors. Another project in which DEFINO Institute has been involved was the development of DIN SPEC 77223 "Standardized Asset and Risk Analysis for Private Investors" in 2015. It also plans to start work on DIN SPEC 77228 "Standardizing Essential Service Criteria For Insurance Products" towards the end of 2017. Recently the DIN executive board gave the green light to DEFINO for developing DIN SPEC "Standardized Financial Analysis for the Self-Employed, Freelancers, Traders and SMEs". Dr. Klaus Möller is CEO at DEFINO Institute. Majority shareholder is Dr. Bernhard Termühlen.
Founded in 2011 and led by CEO Remo Fyda, ProvenExpert.com is one of the best-known online platform for qualified customer feedback and review aggregation. The referral marketing platform offers targeted industry surveys that companies can customize and use in a matter of minutes to start collecting feedback from customers. The surveys provide detailed insight into the needs of customers and their satisfaction levels, as well as helping to uncover new business potential. The resulting feedback can be easily used for online marketing purposes with ProvenExpert's rating seal and profile and combined with customer reviews from Facebook, Google and other platforms. More than 30,000 freelancers, entrepreneurs and large companies use ProvenExpert.com's online surveys to collect customer feedback. As of 2017, the ProvenExpert platform is also available in English.
