Telefonica Germany has launched a mobile banking service, dubbed O2 Banking, in collaboration with online lender Fidor Bank.
The banking app will support transactions via mobile phone number, offer minor instant loans, and will be equipped with extensive security features.
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Registration and authentication for opening an O2 bank account can be done quickly through a video call.
Users will receive an additional data volume of up to 1 GB based on their usage of the app. The app will be available for download by Android and iOS users free of charge.
Telefonica Deutschland COO Markus Haas said: “O2 Banking is setting the standard for the mobile bank account of the future as well as the manner in which people manage their finances in the digital age.
“This is not only thanks to our concept of ‘Megabytes not meagre interest’. We also offer unique features, optimal usability as well as full transparency of services and fees. It is our claim as leading digital communication provider is to meet our customers with fairness and at eye-level. This way only are we able to ideally support them in their digital lifestyles.”
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