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Home / International / N26​ ​announces​ ​expansion​ ​to​ ​the​ ​UK

N26​ ​announces​ ​expansion​ ​to​ ​the​ ​UK

Berlin/London​ ​-​ ​November​ ​3rd,​ ​2017​ ​-​ ​N26,​ ​The​ ​Mobile​ ​Bank,​ ​announced​ ​today​ ​it​ ​will​ ​enter  the​ ​UK​ ​market​ ​in​ ​the​ ​first​ ​half​ ​of​ ​2018.​ ​

N26​ ​has​ ​redesigned​ ​banking​ ​for​ ​the​ ​smartphone, becoming​ ​a​ ​full​ ​replacement​ ​for​ ​any​ ​other​ ​account​ ​by​ ​providing​ ​an​ ​outstanding​ ​user experience​ ​and​ ​one-click​ ​access​ ​to​ ​all​ ​financial​ ​products.​ ​

The​ ​mobile​ ​bank​ ​has​ ​proven​ ​to​ ​be​ ​a game​ ​changer​ ​in​ ​its​ ​Eurozone​ ​markets,​ ​growing​ ​its​ ​customer​ ​base​ ​to​ ​more​ ​than​ ​half​ ​a​ ​million within​ ​only​ ​2.5​ ​years​ ​and​ ​adding​ ​more​ ​than​ ​1500​ ​new​ ​customers​ ​per​ ​day.​ ​

UK​ ​customers​ ​can register​ ​on​ ​the​ ​company’s​ ​website​ ​to​ ​get​ ​early​ ​access​ ​effective​ ​immediately.​ ​UK​ ​customers will​ ​receive​ ​a​ ​fully-fledged​ ​GBP​ ​current​ ​account​ ​with​ ​an​ ​individual​ ​N26​ ​account​ ​number,​ ​sort code​ ​and​ ​Mastercard.

The ​UK ​is ​one ​of ​the ​most ​advanced ​markets ​in ​Europe ​in ​terms ​of ​digital ​payment ​methods. Non-cash ​payments ​and ​e-commerce ​are ​the ​accepted ​norm. ​These ​advancements ​in technology ​have ​fuelled ​strong ​demand ​for ​a ​fully ​fledged ​mobile ​banking ​experience. “We ​believe ​the ​UK ​population ​will ​discover ​N26 ​as ​the ​first ​bank ​they’ll ​love ​to ​use,” ​says Valentin ​Stalf, ​Founder ​and ​CEO ​of ​N26. ​”Offering ​the ​best ​financial ​products ​to ​our ​customers with ​the ​best ​user ​experience ​is ​our ​top ​priority ​and ​the ​key ​to ​our ​success.”

Simplicity ​is ​one ​of ​N26’s ​core ​values ​and ​is ​present ​at ​all ​touchpoints ​with ​customers, ​creating an ​exceptional ​user ​experience. ​The ​account ​opening ​process ​is ​completely ​paperless, ​and ​can be ​done ​from ​a ​smartphone ​anytime ​and ​anywhere. ​Within ​the ​app, ​customers ​can ​instantly lock ​and ​unlock ​their ​card ​with ​just ​one ​tap. ​Customers ​receive ​real-time ​push ​notifications ​with each ​transaction ​made ​with ​their ​account. ​A ​statistical ​breakdown ​of ​all ​spending ​can ​be accessed ​in ​just ​a ​few ​taps. ​All ​products ​are ​seamlessly ​integrated ​into ​the ​N26 ​app ​interface, which ​creates ​a ​simple ​and ​quick ​transition ​between ​all ​financial ​products.

By ​partnering ​with ​the ​most ​innovative ​Fintech ​companies ​and ​traditional ​players, ​N26 ​will ​give customers ​access ​to ​the ​best ​digital ​banking ​products, ​making ​N26 ​a ​full ​replacement ​of ​any other ​bank ​account. ​It ​has ​already ​partnered ​with ​TransferWise ​to ​give ​its ​customers ​the ​best exchange ​rates ​when ​transferring ​money ​abroad. ​Its ​partnership ​with ​Raisin ​allows ​N26 customers ​to ​save ​money ​and ​choose ​the ​best ​interest ​rate ​from ​banks ​across ​Europe. ​The integration ​of ​Vaamo ​into ​the ​N26 ​app ​allowed ​customers ​to ​invest ​their ​money ​and ​manage ​a customized ​investment ​portfolio.

N26 ​has ​been ​granted ​a ​banking ​license ​by ​the ​German ​regulator ​BaFin ​and ​the ​ECB. ​Individual deposits ​are ​protected ​up ​to ​€100,000, ​according ​to ​the ​European ​Deposit ​Guarantee ​Scheme.

N26’s ​business ​model ​is ​simple. ​N26 ​has ​no ​branches ​or ​IT ​legacy ​and ​is ​a ​lean ​organisation. The ​modern ​technology ​used ​by ​N26 ​combined ​with ​its ​flexible ​organisational ​structure ​enables it ​to ​innovate ​faster ​and ​operate ​as ​a ​bank ​at ​a ​much ​lower ​cost ​compared ​to ​traditional ​players. These ​cost ​advantages ​can ​be ​passed ​on ​to ​customers ​resulting ​in ​full ​transparency, ​better prices ​and ​a ​great ​user ​experience.

About​ ​N26  
N26​ ​is​ ​Europe’s​ ​first​ ​Mobile​ ​Bank​ ​with​ ​a​ ​full​ ​European​ ​banking​ ​license​ ​and​ ​is​ ​setting​ ​new​ ​standards​ ​in​ ​banking.​ ​N26 has​ ​redesigned​ ​banking​ ​for​ ​the​ ​smartphone,​ ​making​ ​it​ ​simple,​ ​fast​ ​and​ ​contemporary.​ ​Opening​ ​a​ ​new​ ​bank​ ​account takes​ ​only​ ​eight​ ​minutes​ ​and​ ​can​ ​be​ ​done​ ​directly​ ​from​ ​your​ ​smartphone.​ ​Users​ ​receive​ ​a​ ​Mastercard​ ​to​ ​pay​ ​cashless or​ ​withdraw​ ​cash​ ​all​ ​around​ ​the​ ​world.​ ​They​ ​can​ ​block​ ​or​ ​unblock​ ​their​ ​card​ ​with​ ​a​ ​simple​ ​click​ ​and​ ​send​ ​money instantly​ ​to​ ​friends​ ​and​ ​contacts.​ ​

Valentin​ ​Stalf​ ​and​ ​Maximilian​ ​Tayenthal​ ​founded​ ​N26​ ​in​ ​2013​ ​and​ ​launched​ ​the initial​ ​product​ ​in​ ​early​ ​2015.​ ​Since​ ​the​ ​launch​ ​N26​ ​has​ ​grown​ ​to​ ​more​ ​than​ ​500.000​ ​customers​ ​across​ ​17​ ​European markets​ ​and​ ​has​ ​over​ ​300​ ​employees.​ ​N26​ ​currently​ ​operates​ ​in:​ ​Austria,​ ​Belgium,​ ​Estonia,​ ​Finland,​ ​France,​ ​Germany, Greece,​ ​Ireland,​ ​Italy,​ ​Latvia,​ ​Lithuania,​ ​Luxembourg,​ ​Netherlands,​ ​Portugal,​ ​Slovakia,​ ​Slovenia,​ ​and​ ​Spain.​ ​N26​ ​has also​ ​announced​ ​to​ ​enter​ ​the​ ​US​ ​market​ ​in​ ​Mid​ ​2018​ ​where​ ​it​ ​will​ ​operate​ ​via​ ​its​ ​wholly​ ​owned​ ​subsidiary​ ​N26​ ​Inc. based​ ​in​ ​New​ ​York.​ ​Since​ ​January​ ​2015,​ ​N26​ ​has​ ​been​ ​available​ ​for​ ​Android,​ ​iOS,​ ​and​ ​desktop.​ ​N26​ ​has​ ​raised​ ​more than​ ​$55​ ​million​ ​from​ ​investors​ ​including​ ​Li​ ​Ka-Shing’s​ ​Horizons​ ​Ventures,​ ​Battery​ ​Ventures​ ​and​ ​Valar​ ​Ventures,​ ​in addition​ ​to​ ​members​ ​of​ ​the​ ​Zalando​ ​management​ ​board,​ ​Earlybird​ ​Venture​ ​Capital​ ​and​ ​Redalpine​ ​Ventures.

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