Ahead of UK-based challengers, Germany-based Fidor Bank has launched in the UK offering a current account and savings bonds.

With a reputation for innovative and disruptive solutions, utilising social media, crowdfunding, P2P lending and digital currency services to build its business, Fidor is available in the UK from today.

The flexible savings bonds product also includes a euro transfer service with a flat fee for international money transfers.

Fidor plans to flow this up with debit cards, corporate accounts and integration of third-party services over the next few months.

One of the innovative sides to Fidor is the importance put on its online community. Users are financially rewarded for giving and receiving knowledgeable financial advice. Reputation is gained through ‘karma’ which improves a customer’s rating and online credibility.

In addition, the interest rate on Fidor’s current account is dependent on how many likes the British arm has on Facebook. The maximum rate is 0.5% p.a. if the Facebook page reaches 10,000 Likes or over.

CEO of Fidor Bank Matthias Kröner said: "We’re putting the community at the heart of Fidor. This personalised approach to banking gives every customer a voice in how our bank is run, as well as giving them unprecedented control – setting their own interest rates, or naming the current account card that the bank will use for example, are just some of the options we’ve explored."

Founded in 2009 in Munich, Fidor is already close to hitting 100,000 customers in the country.