BERLIN, January twenty eight, 2021 – Digital bank, N26, today celebrates surpassing 7 million clients across Europe as well as the US, proving the sturdiness of the digital worth proposition of its – N26 reached EUR 5.5bn transactions per month.
Around 2020, N26 concentrated on improving as well as scaling its digital banking provide to keep pace with its customers’ changing requirements. With even more customers turning to digital remedies amid the pandemic, N26 continued to see progress that is good as individuals looked for brand new means to bank easily from house without ever visiting a department.
Being a result, N26 saw transaction volumes at an all time extremely high, reaching over EUR 5.5bn every month, hence, the focus of its on adding new digital items focused on daily banking for the clients of ours.
N26 co CEO and co founder, Maximilian Tayenthal:
“As we celebrate the sixth business anniversary of ours, it is motivating to find out that large numbers of men and women believe in N26 to place their fiscal interests initially. As a completely licensed digital bank, we’ve established a banking experience for the times we are living in, not for a certain model, particularly in the confining and uncertain times we are living in today.”
To strengthen the Customer Experience
Throughout 2020, N26 focused initiatives on delivering new features, enhanced more decision and service to clients throughout the crisis, accelerating the innovation pipeline of its with a range of product launches to deliver evolving client must have.
Within a period in which digital banking is now a lot more appropriate than previously, N26 extended the card portfolio of its, launching N26 Business Metal and introducing a brand new premium subscription, N26 Smart, offering buyers access to its popular premium banking services at an economical and competitive value.
At the height of the pandemic, N26 introduced Instant Banking capabilities so clients might put in a digital card to the mobile wallet of theirs and then begin using the new digital account of theirs right away while watching for their actual physical card to arrive – for branchless, paperless account opening. Additionally, N26 created a brand new Round Ups function, which instantly rounds up each purchase to probably the nearest Euro and sets it separate in Spaces, making saving throughout the crisis effortless and straightforward. Finally, N26 extended the travel insurance cover of its with Allianz to cover pandemic related statements.
2020 also saw N26 continue to invest in boosting its client experience to serve the requirements of a bigger, much more diverse client base. N26 is actually the one digital bank to live Customer service in five languages seven days a week, and will continue to purchase specialist training, building the chatbot abilities of its and using much more self service functions to the app.
N26 CEO and co founder, Valentin Stalf:
“Now much more than ever, digitalisation and originality are actually essential to Europe’s future. We are going to continue to get fascinating daily banking characteristics to millions of extra clients that still be trapped in the offline world”
Building Industry Leadership
N26 is actually planning to expand beyond the membership of its, core banking as well as payments online business to give new services in 2021, boosting the range of its of banking revenue streams. This includes building out a seamless link to the monetary ecosystem from inside the N26 banking knowledge, extended through the brand new N26 Marketplace.
Additionally, N26 will additionally invest into expanding the staff of its in 2021 with a solid emphasis on raising the dimensions of the product or service of its as well as tech organisation by more than 200, internationally.
N26 is going to continue to provide much more timely & appropriate features as well as items to clients including virtual cards, Advanced Statistics, which will help buyers to better understand the investing behaviour of theirs, extra neighborhood payment options as well as enhancements to Spaces, which will end up completely purposeful sub accounts with an unbiased IBAN.
Finally, to further improve consumer trust, we are going to continue to invest seriously in optimising Customer Operations by fortifying the quality of the customer care of its with specialist training, building its chatbot Neon’s abilities and using self service functions to the app.
N26 reached EUR 5.5bn transactions per month