N26 announces UK expansion
Written by Chris Lemmon
European mobile banking platform N26 has announced that it will be entering the UK market in the first half of 2018.
The bank has grown its customer base to more than half a million within two and a half years, adding an average of more than 1,500 new customers each day. UK customers can register on the company's website to get early access effective immediately, and will receive a fully-fledged GBP current account with an individual N26 account number, sort code and Mastercard.
The UK is one of the most advanced markets in Europe in terms of digital payment methods. Non-cash payments and e-commerce are the accepted norm. These advancements in technology have fuelled strong demand for a fully-fledged mobile banking experience.
N26’s account opening process is paperless, and can be completed via smartphone. Via the app, customers can instantly lock and unlock their card, while customers receive real-time push notifications with each transaction.
N26 has been granted a banking license by the German regulator BaFin and the ECB. Individual deposits are protected up to €100,000, according to the European Deposit Guarantee Scheme.
Valentin Stalf, founder and CEO of N26, said: “We believe the UK population will discover N26 as the first bank they'll love to use. Offering the best financial products to our customers with the best user experience is our top priority and the key to our success.”