Number26 is a European online bank App designed for the next generation of bank accounts

Country: Germannumber26_logo
Year: 2014

  • Making money on data analytics: In the long run, once Number26 will have gathered very specific information about the expenditures of the card holders this will enable to offer the right financial product at the right moment. 
  • Cutting out card company: In the very long run, using such an App might also enable banks to cut out card companies and enable the user to pay directly with the App with no intermediary.

Concept

  • Number26 is a start-up that created a user-friendly online banking interface that comes with a MasterCard
  • The founders wanted to create a bank account that can be completely managed by the user’s smartphone with an easy to use interface that is working in real-time
  • Some of the features that Number26 App enables are:
    • When the bank account holder uses his MasteCard in a store he gets a real-time push message notifying him the transaction and the amount of it
    • When the user logs in, he (she) can access all of his (her) transactions. The transactions are very interactive and the user can select each expenditure to visualize when and where it was done, what it was and which amount he spent
    • The App automatically categorize each transaction such as bar, restaurant, grocery store etc.
    • Thanks to the categories, the user can go into his (her) statistics to have an overview of the  allocation of his (her) expenditures
  • Number26 is also very secure.
    • If the card holder looses his (her) card he can go on the App and claim it as lost/stollen and can block  and unblock his (her) card with a simple click
    • The card holder can also punctually decide where he wants his (her) card to work by clicking on “Work Abroad”, “Online payments” and “Withdrawal of money”

Consumer Benefits

  • Fast bank account opening: the user can open a secure bank account within 6 minutes  with no paperwork

How to use

  • The user can create a bank account for free on Number26 App or online by entering the phone number and some personal information. For final check there is a certified video verification where the user shows the passport and it is done.
  • Number26 earns money on interests
  • Click on the image below to visualize the video presenting Number26

Number26 

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