HomeGermany-StartupsGerman challenger bank startup NUMBER26 launches in Germany and Austria

German challenger bank startup NUMBER26 launches in Germany and Austria

The future of fintech is bright with the launch of NUMBER26 today. Number 26 offers a mobile bank account for both Android and iPhone users, following a successful beta launch at TechCrunch Disrupt London last year.

Opening a bank account has never been easier – with Number26, your identity is verified via a video call, and the entire process takes less than eight minutes all from the touch of a smartphone.

“The bank branch of the future is the smartphone. That’s why with NUMBER26 we have created a bank account the way it should be – transparent, mobile and secure,” says Valentin Stalf, founder and CEO of NUMBER26.

The app will also offer a range of additional features, such as stats to manage finances, a breakdown of expenditure, notifications for real time card transactions and the opportunity to block or unblock your card at a click. Money transfers can also be done via an email or text message.

By fast tracking the process of opening a bank account in less than eight minutes, Number26 beats all competitors hands down on being the speediest provider across Europe. Number26 reverses the traditional status quo of providing real time transactions compared to leading banks which take over twenty four hours.

The German banking license is held by Wirecard Bank AG. Director Alexander Von-Knoop at Wirecard Bank AG commented: “We are happy to support NUMBER26 with its attractive mobile banking solution. This way, we are taking the next step towards a customer-friendly, transparent and safe mobile banking experience together.”

The transparent model is an additional benefit expected to attract customers, as savings from standalone branches are passed on directly to the customer.

Due to an unprecedented volume of pre-signups, NUMBER26 is accepting accounts on an invitation only basis – unless your friend is an existing customer, in which case you can sign up immediately. Current waiting lists for invites are between four to six weeks.

Last year NUMBER26 secured €2 million from leading European Venture Capital Funds Earlybird VC and Redalpine VC together with Axel Springer Plug and Play as well as several finance experts.

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Mevish Aslam
Mevish Aslam
Mevish is the founder and Nomad in Residence at Terminal3.co and Sprinters.co. She empowers remote workers to leave the office cubicle to travel and work from anywhere in the world.

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