Fintech startup Yapeal has joined forces with privately-held telecommunications company Sunrise to introduce fully-digitalised financial services app in Switzerland.

The app will provide a bank account with customisable International Bank Account Number (IBAN).

The new service also comes with a Visa debit card and a Mobile Pay payment option.

These services will be available to young Sunrise customers up to the age of 30.

They will benefit from free account management and mobile payments for up to six months.

There will also not be any hidden costs associated with these digital finance solutions.

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By GlobalData

Sunrise CEO Andre Krause said: “Sunrise and Yapeal complement one another perfectly. Together they represent reliable, digital, real-time mobile payment and financial services.

“By developing joint business models, we want to provide innovation for digital financial services going forward.”

The company delivers fully-digitalised financial services, online and globally, in real-time.

Additionally, it is said to offer the best exchange rates for foreign currency transactions for free.

Yapeal co-founder and CEO Thomas Hilgendorff said: “Our mid- and long-term objective together with Sunrise is to create new products that make handling money in the digital world even easier by integrating our services.

“Collaborations with strong partners like Sunrise and Visa are clear votes of confidence in the best fintech team.”

Yapeal is the first and only startup to secure fintech licence from the Swiss Financial Markets Supervisory Authority (FINMA).

This licence allows the company to deposit account balances at the Swiss National Bank since it does not deal with customer money.