Published on Arabian Blue Ocean, October 4, 2018
Do you remember that campaign in European cities telling something like “We´re not your grandma´s bank?” Yes, it was N26, a startup inspired on the Rubik cube, the one behind that eye-opener slogan.
We are at South Summit Madrid 2018 and we had the chance to talk to Maximilian Tayenthal, co-founder of N26, y Francisco Sierra, General Director in Spain. They explained us how their app born in 2013 to disrupt the traditional banking system by proposing a new mobile banking with no branches and no commissions for the transactions done by their customers. That for sure is not the bank of the older generations, but the one addressing the new citizens on the move, university students and young professionals between 18-35 y/o who need to solve their banking issues directly from their phone. And how does it work? The customer downloads the app and gets registered to receive a Mastercard to spend his/her money. N26 also offers travel and accident insurance, commission free shopping, transfer to other family and friends, and instant money in case of unforeseen events.
N26 got its banking license in Berlin and got expanded to the pan European market, where more than one million people trust them. At least a ten percent of their clients are in Spain, mainly in Madrid and Barcelona.
Want to know a bit more about N26? Maximilian Tayenthal tells you everything in this interview.