The Model: A platform
for creating a full-fledged bank account within minutes, managing transactions
and tracking your expenses. Users can create an account in just 8 minutes. No
fees for Maestro/Mastercard payments globally and can deposit and withdraw cash
in 6,000 locations around Germany. Money can be transferred to your contacts
via text message and email. Also users can track their spending patterns.
Startup Doing It: Number26
(German startup)
What I Like:
Core Idea – End
to end solution for banking, payments and personal finance.
Ease of Use – Easy
to install and operate.
Security Issue
Addressed – Fingerprint scanning is used to access your account. Also cards
can be activated and deactivated with a single click.
My Concerns:
Competition –There is a lot of competition in the mobile
banking, mobile payments and personal finance apps space.
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