German mobile-only bank Number26 has announced plans to expand in six new European countries, including France, Greece, Ireland, Italy, Slovakia, and Spain.
The move expands the startup’s footprint to eight countries, following its initial launch in Germany and Austria earlier this year.
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Commenting on the expansion, Number26 CFO and founder Maximilian Tayenthal said: "The markets we chose to enter now are perfect examples of a bad user experience and overpriced retail banking products. It’s here where we start to build the first true pan-European bank. The problems affecting banks in Europe, such as bureaucracy, outdated technology and inefficient structures, are well present in those markets. Thus the timing couldn’t be better for a digital solution to banking."
The Number26 bank account enables individuals to open an account in just eight minutes through a video chat. The account is linked with a MasterCard that can be used across the globe for making purchases or receiving cash at ATMs.
The account also incorporates individual security settings, financial management tools as well as push notifications for every transaction.
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By GlobalData
