Latest news with #N26
Bloomberg
20 hours ago
- Business
- Bloomberg
Germany's N26 Weighs New Funding Round That Allows Partial Exit
German digital bank N26 is considering a new funding round at a reduced valuation that could allow some of its existing investors including Coatue Management, Third Point and Dragoneer Investment to recoup part of their investment, people familiar with the matter said. The Series F funding round being contemplated by N26 would let the existing investors sell part of their stakes, according to the people. N26 has been discussing a structure that would allow them to roll over some of their holdings into the new round at a lower valuation, meaning they wouldn't get the 25% guaranteed return promised at their initial investment, the people said.
FF News
3 days ago
- Business
- FF News
Who Was Your First Customer and What Did They Mean for Your Business?
There's something really unique about landing your first customer. At this year's FTT Payments, we asked the attendees: Who was your first customer? The responses brought up some great stories about where it all began and the milestones along the way. Some people remembered right away—like N26, Finpay, and Lewis University. Others took a trip down memory lane, thinking back to when they first started out. Big names like the European Central Bank are mixed in with newer companies like Snowdrop Solutions and Lydia, showing how that first moment of trust really counts. Whether it was a university, a bank, or a bus service, everyone had a similar vibe: that first 'yes' was just the beginning of everything. Just like at FTT Payments, these early moments remind us that in fintech, where you start really matters.
Finextra
28-05-2025
- Business
- Finextra
Are Banks Losing the Wallet War?: By Alisa Zejnilovic
The fight for customer retention isn't happening at the branch, it's happening on the phone's screen. And more often than not, it's not your app being tapped. Across Europe, 46% of Gen Z now use third-party finance apps daily: wallets, savings tools, crypto accounts, reward platforms; often in place of their bank's native app. This isn't a niche behavior. It's a shift in financial behavior and power. And it is no longer a two-horse race - the competition isn't another bank, it's Apple Wallet, Revolut, and any app that earns a place in a user's daily routine. The Problem: Banks Are Losing the Primary Interface Traditional banks are watching a critical shift unfold: the decoupling of financial services from their platforms. While core banking functionality remains intact behind the scenes, the front-end relationship is migrating elsewhere - to digital wallets, neobanks, and ecosystem-first apps. Even banks with strong mobile apps are facing attrition in usage frequency. Why? Because customers, especially younger demographics, are using third-party apps that better align with how they live, shop, save, and transact. If your bank's app isn't the first point of contact, it won't be the first choice when new financial needs arise. The Cause: Wallets and Neobanks Have Reframed User Expectations Digital wallets and neobanks are not the same, but they are both redefining the customer interface. Digital wallets (like Apple Pay, Lydia, Stocard, Curve) are becoming hubs for spending, saving, and identity - not just payment pipes. Neobanks (like N26, Revolut) are delivering full-stack experiences with superior UX, instant onboarding, modular products, and lifestyle integration. The more and more customers are migrating to these apps, because, the bottom line, they do two things well: ✅ Remove friction ✅ Add daily value They don't replicate traditional banks, they leapfrog them in interface design and user relevance. The Strategic Consequence: You're No Longer Just a Bank Once digital wallets offer: Payment Loyalty cards Subscription management P2P and split payments Credit and savings tools …they stop being accessories and become the new default interface. The bank becomes the backend. The infrastructure. Invisible. And with the Digital Euro on the horizon, wallets are gaining systemic importance - not just convenience. The European Central Bank (ECB) is actively developing the Digital Euro, a central bank digital currency (CBDC) designed to provide citizens with a secure, universally accepted form of digital cash. Slated to move into the preparation phase by 2025, it will be distributed via digital wallets, not directly through traditional banks. This shift will erode the exclusivity banks have historically had over holding and distributing public money. For consumers, it means the same wallet that holds currency, ID, mobility passes, loyalty cards, and access tokens can also be the home of state-backed digital cash. Why would users navigate five siloed apps when a single wallet becomes their universal financial and identity interface? For banks, this marks a turning point: if you're not the interface, you're infrastructure. And infrastructure gets commoditized. China's case study: a wake-up call for European banking We're already seeing this dynamic play out in China; their financial transformation offers a compelling case study for Europe. Platforms like Alipay have evolved from e-commerce payment tools into full-fledged financial ecosystems - offering savings (Yu'e Bao), insurance (Zhong An), personal credit (Ant Micro Loan), and even consumer credit scoring (Sesame Credit). What makes this shift significant is disintermediation: Alipay reduces reliance on traditional banks by handling transactions, credit, and even settlements internally, cutting out legacy intermediaries like China UnionPay entirely. As Chinese users increasingly choose digital wallets over bank apps, state-owned banks have been forced to innovate or risk irrelevance. And now, with the rollout of the e-CNY, users can access central bank money directly through wallets like Alipay and WeChat Pay, without logging into a traditional banking interface. The message for Europe is clear: if the Digital Euro follows a similar path, the wallet - not the bank - becomes the dominant layer of financial interaction. For banks, this means two choices: compete as a daily interface or be relegated to invisible infrastructure. What Now? Strategy Before Speed Banks have two clear paths: Try to protect their existing app experience (and risk falling behind), or Redesign the customer experience around daily relevance, not just regulatory compliance. That doesn't mean launching a copycat wallet. It means rethinking the user journey from login to loyalty. Here's what winning banks are already doing: Embedding budgeting, rewards, lifestyle nudges, and micro-investment tools into the app, not as features, habit-forming daily touchpoints. Using AI to hyper personalize nudges and product offers in real-time, based on behavior, not just age or income brackets. Offering instant, transparent onboarding with personalization from day one. Partnering with fintechs, telecoms, and retail ecosystems to stay embedded in user lifestyles B2B2X Models: Embedded Finance with Real Impact Banks are increasingly moving beyond traditional B2B to B2B2X - where 'X' is the end customer. Instead of waiting for consumers to walk into a branch, they're embedding banking products directly into partner ecosystems - from car dealerships offering instant financing to real estate platforms streamlining mortgage approvals at the point of search. Example: A bank partners with a car manufacturer to offer embedded leasing and financing within the digital showroom. The consumer never leaves the ecosystem, but your bank powers the transaction. This model allows banks to: Expand distribution without new branches Capture high-intent customers at the moment of need Retain relevance in a landscape shaped by platforms, not pipelines The Solution: Compete on Interface, Not Just Infrastructure Digital wallets aren't just adding convenience, they're training your customers to expect more. To compete, banks must: Shift from compliance-led releases to product-driven roadmaps Deliver modular, composable services without overhauling core systems Treat AI and personalization not as 'features,' but as retention engines Launch smaller, faster MVPs - then iterate with user data (not just stakeholder input) This isn't digital transformation. It's interface strategy. Final Word: Reclaim the Frontline Banks who win the next decade will be those who own the interface, not just the ledger. Your customer will still need a bank. But whether they interact with you, or through someone else, will depend on what you do now. The wallets are open. The question is: whose app do they open first? The full research download here:
National Post
13-05-2025
- Business
- National Post
1GLOBAL Enables N26 to Become Germany's first Digital Bank to offer eSIM Mobile Plans
Article content AMSTERDAM — In a move set to reshape the intersection of fintech and telecom, 1GLOBAL, a technology-driven global mobile communications provider, has teamed up with N26 to enable it to become the first digital bank in Germany to offer local mobile plans. This partnership will grant N26's German customers seamless access to flexible, affordable, and contract-free mobile connectivity—all activated directly through the N26 app. Article content Article content By integrating 1GLOBAL's cutting-edge API, N26 has unlocked a frictionless mobile experience that eliminates the need for physical SIM cards Article content By integrating 1GLOBAL's cutting-edge API, N26 has unlocked a frictionless mobile experience that eliminates the need for physical SIM cards, lengthy contracts, or cumbersome paperwork. Customers can activate their mobile plans in a few taps, enjoying instant connectivity that mirrors the bank's digital-first ethos. Article content At the heart of this partnership is 1GLOBAL's proprietary technology—a robust suite of APIs that empowers verified businesses like neobanks to embed telecom capabilities directly into their platforms. Unlike traditional telecom providers, 1GLOBAL has built its own technical network from the ground up, enabling the issuance of eSIMs and International Mobile Subscriber Identities (IMSIs) at scale and at low cost. Article content Through its global infrastructure, supported by nine Mobile Virtual Network Operators (MVNOs), five international roaming partners, and over 150 interconnects, 1GLOBAL delivers unparalleled worldwide connectivity. This positions N26 to offer its customers a unique value proposition: a fully integrated, tech-enabled mobile experience that complements its core banking services. Article content ' We are thrilled to bring our tech-driven telecom capabilities to N26's forward-thinking customer base,' said Hakan Koç, Founder and CEO of 1GLOBAL. ' As industries like fintech, travel, and insurance increasingly seek to integrate seamless connectivity solutions, 1GLOBAL's eSIM technology provides a powerful value-add. It not only enhances customer experience but also opens up new revenue streams and deepens brand loyalty.' Article content N26 customers in Germany can now choose from three competitively priced data plans, all of which include free roaming across the EU and EEA. With real-time data consumption monitoring, users can manage their connectivity needs directly within the N26 app. Article content Valentin Stalf, Founder and CEO of N26, added: ' N26 SIM empowers our customers with flexible and affordable mobile plans that integrate seamlessly into their daily lives. Our partnership with 1GLOBAL has helped us give our customers access to top networks in just a few taps.' Article content 1GLOBAL is a technology-driven global mobile communications provider dedicated to empowering enterprises worldwide to unlock the full growth potential of mobile connectivity. With a best-in-class telecom technology platform, a comprehensive suite of globally viable regulatory licenses, and privileged access to the telecom wholesale market, 1GLOBAL is uniquely positioned to deliver seamless compliance and connectivity solutions. Serving the world's leading banks, corporations, and digital-first businesses—including neo-banks, travel companies, and payment service providers—1GLOBAL connects over 43 million devices globally. Article content With 2024 full-year revenue exceeding US$100 million, 1GLOBAL is a profitable business generating significant cash flows to fund its ongoing investments in infrastructure, transformation, and growth. 2024 saw major client wins and marked 1GLOBAL's evolution from a multi-market telecommunication provider to a global technology-driven mobile connectivity powerhouse. Article content Established in 2022 by experienced tech founders and entrepreneurs Hakan Koç and Pyrros Koussios, 1GLOBAL is a European technology leader driving digital transformation in the global telecommunications market. It operates as a fully regulated Mobile Virtual Network Operator ('MVNO') in nine countries and as a regulated telecommunications operator in an additional 31 countries. Headquartered in the Netherlands, with world-class R&D hubs in Lisbon, Berlin, and São Paulo, 1GLOBAL employs over 450 experts across 13 countries. Article content Article content Article content Article content Article content
Finextra
07-05-2025
- Business
- Finextra
N26 joins Revolut in disrupting the telecommunications market
German neobank N26 is following in the footsteps of Revolut by entering the telecommunications market with the introduction of a digital mobile plan 1 Operating on Vodafone's 5G network, N26's mobile plan entails the issuance of an eSIM that can be activated directly in-app. All plans come with unlimited national calls and text messages, as well as free EU and EEA roaming. Data bundles range from €13.99 per month for 10 gigabits of data to €34.99 for 100GB. On top of their choice of data bundle, N26 SIM customers can also choose between porting in an existing phone number, or getting a new number provided by N26. Customers will also have the ability to cancel their plan with a month's notice, doing away with long fixed-term contracts and binding commitments. Valentin Stalf, founder and CEO of N26, says: 'With N26 SIM, we'll offer flexible and affordable mobile plans that can be activated straight in our app with just a few taps. Together with our network operator Vodafone, our customers can be connected through one of the best mobile networks in Germany, setting new standards in the telecommunications sector.' N26's entry into the telecommunications market comes on the heels of Revolut's mobile plan offer, opening up an additional revenue stream beyond banking. Revolut's new Mobile Plans will offer unlimited texts, calls and domestic data, with a generous 20GB EU and US data roaming and no fixed contract commitment. Set to launch first in the UK and Germany with more markets to follow, Revolut users can join a waitlist to be the first to access and be eligible for an introductory monthly rate of £12.50 a month.
