ABN Amro Services Company issued the following announcement on May 19
Kendu users were informed today that they will no longer be able to use this investment app as from 30 June 2020.
Kendu, an app allowing users to make investments from as little as 50 euros, was introduced in April 2019. As Kendu has not caught on enough to continue operating viably, ABN AMRO has decided to shelve the app. Kendu will continue to manage its clients’ investments until 15 June. After this date, it will sell the investments and clients will be eligible for full compensation of any losses incurred. If clients sell their investments themselves through the Kendu app before 15 June, they will not receive any compensation for the investments sold.
After 30 June, clients can opt to invest through ABN AMRO’s Guided Investing, Self-Directed Investing or Portfolio Management services.
Original source can be found here.
Source: ABN Amro Services Company
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