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Banking Without Borders

posted by N26 • Business Development • December 3, 2015

A good idea has no borders – that’s why the moment has come to offer NUMBER26 in more European countries. Here we give the most important info on our internationalisation.

 

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(what the Irish, Spanish and Slovaks see when they open their NUMBER26 app.)

 

Why are we going international?

There is a demand for better banking in Europe – we’ve already seen this in Germany and Austria, and we are sure to observe the same in the countries we are launching next.

Especially in Spain our analysis shows a huge discrepancy between the high share of smartphone-aficionados and the comparatively low offer of quality online banking.

The same applies to Italy, where the traditional banking industry has remained unchanged for almost just as long. The idea of online – or even mobile – banking leaves more than enough roomfor newcomers like us.

Potential customers in Ireland do not only speak the language in which we already offer 10o % of our services –  they are also very among the most eager to use their cards for all kinds of transactions. Who could be happier about the new era of cashless payment that we are accelerating?

In Slovakia the density of bank accounts in comparably low in general – many Slovaks will have the chance to kick off their personal banking history with the best bank account right from the start.

We are optimistic to tackle the not extremely innovative banking environment in Greece with a technologically progressive offer in Greece.

And last but not least, 66 million Frenchpeople have historically shown that they are always up for a revolution.

 

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(what the French, Greek and Italians see when they open their NUMBER26 app.)

 

How to do an internationalisation?

An idea can be judged by the ability to make it big. We believe there is no other bank account in Europe that has more ability to grow than NUMBER26. And this is a belief that we want to have confirmed through going international.

Why do we think so? Find some key points that show why we are predestined to go across borders.

  1. We don’t have branches. Our service is designed to offer a bank account in any country without any long-term logistic processes. Client inquiries can be solved from anywhere .
  2. MasterCard® is a partner that provides infrastructures that are, at its core, unrelated to location. You already know that you can withdraw fee-free internationally – why not also open the bank account from everywhere?
  3. Our product is from A-to-Z in English. Thus it’s easy to onboard English-speaking customers from everywhere without any hassle.

These may be the most obvious reasons why NUMBER26 is prone to grow beyond Germany and Austria. As with most good ideas, one reason backs us up the most: there’s simply no reason, not to do it.