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N26 extends Europe reach

German digital-only bank, N26 (formerly Number26), now has a presence in 17 countries in the Eurozone as it works towards its goal of serving all Europeans within the next few years. The challenger bank, which has more than 200,000 customers in eight countries, first launched in 2015 in Germany and Austria, then moved into Spain, France, Italy, Greece, Ireland and Slovakia. It is now adding the Benelux countries, the Baltics, Finland, Portugal and Slovenia.

Earlier this year, N26 received a full banking licence from the Federal Financial Supervisory Authority (BaFin) and the European Central Bank. Its account offers an eight minute account sign up, instant money transfers (MoneyBeam), real-time transaction notifications and smart insights. The new entrant’s app, website, video ID verification process and customer service will all be available in French, Spanish, and Italian – in addition to German and English.

“Our team is excited to bring a different banking experience focused on design and based on the beauty of technology to many more customers all around Europe,” says Valentin Stalf, founder and CEO of N26. “The European reach will give us the scale to disrupt retail banking further and take full advantage of our highly scalable and cost efficient systems we have built over the last years.”

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