$13.9 million saved in less than a year with automated savings feature N26 Round-Ups
- For World Savings Day, N26 has released new statistics on the use of automatic savings features as an alternative way to work towards financial goals effortlessly
- To date, just over 12 million automatic Round-Ups transactions have been made, saving customers in Europe and the US nearly $14 million
New York - Ahead of World Savings Day, N26 has released new insights on how technology is helping people save money effectively and effortlessly. Less than a year after the company introduced Round-Ups, N26 customers in Europe and the US have seamlessly set aside nearly $13 million with the automated savings feature.
Launched in November 2020, the Round-Ups feature was designed to complement Spaces, N26’s iconic sub-accounts, making saving easier than ever before. When enabled, each payment is automatically rounded up to the nearest dollar and the spare change transferred to a designated Space. Available to all N26 US customers, the automatic savings feature aims to empower regular savings behavior, helping customers grow their savings without having to make a constant and concerted effort to set money aside.
Since the feature was launched, over 12 million Round-Ups transactions have been automatically triggered, a testament of how effective automation is in helping customers build their wealth with minimal effort.
“Mobile banking experiences like N26 have the power to provide innovative tools for customers to feel confident and in control of their finances through the intelligent use of technology. By making the process of saving money as simple and effortless as possible, we can help consumers build up financial confidence and alleviate the stress commonly associated with managing finances,” said Gilles BianRosa, Chief Product Officer at N26.
N26 also offers customers a range of saving and budgeting tools to help them stay on top of their finances. N26 Statistics, for example, gives customers access to important and detailed insights on spending behavior, so that they can easily make more well-informed financial decisions.
N26 GmbH (“N26”) is building the first mobile banking platform the world loves to use. Valentin Stalf and Maximilian Tayenthal founded N26 in 2013 and launched the initial product in early 2015. Today N26 has more than 7 million customers in 25 markets. The company employs more than 1,500 employees across 10 office locations: Amsterdam, Berlin, Barcelona, Belgrade, Madrid, Milan, Paris, Vienna, New York and São Paulo. With a full European banking license, state-of-the-art technology and no branch network, N26 has redesigned banking for the 21st century and is available on Android, iOS and desktop. N26 has raised close to $1.8 billion from the world’s most established investors, including Third Point Ventures,Coatue Management LLC, Dragoneer Investment Group, Insight Venture Partners, GIC, Tencent, Allianz X, Peter Thiel’s Valar Ventures, Li Ka-Shing’s Horizons Ventures, Earlybird Venture Capital, Greyhound Capital, Battery Ventures, in addition to members of the Zalando management board, and Redalpine Ventures. N26 currently operates in: Austria, Belgium, Denmark, Estonia, Finland, France, Germany, Greece, Iceland, Ireland, Italy, Latvia, Liechtenstein, Lithuania, Luxembourg, Netherlands, Norway, Poland, Portugal, Slovakia, Slovenia, Spain, Sweden, Switzerland and the U.S., where it operates via its wholly-owned subsidiary, N26 Inc., based in New York. Banking services in the U.S. are offered by N26 Inc. in partnership with Axos Bank®, Member FDIC (Certificate 35546). For more information about N26, please visit n26.com.
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