N26, a digital-only challenger bank based in Germany, announced on Friday it is launching its services in the UK in early 2018. This news comes after the fintech startup announced plans to launch in the U.S. next year. UK customers may now get early access by signing up directly on the company’s UK homepage.
“Our expansion to the UK represents a big leap for us. Since our founding as a Berlin-based fintech startup, we have rapidly grown into a global banking player. Expanding to one of Europe’s main financial hubs is a natural next step for us. We’re excited to bring the same banking experience that more than 500.000 European customers already love to the UK.”
N26 also explained that with its launch, it ia bringing a whole new banking experience to the UK that empowers customers and gives them full control over their financial lives. We also want to change the way customers think about banking.
“As a fully mobile product, we don’t maintain physical locations. This allows us to expand quickly all while providing the same services. So customers who live in the countryside have the same support and access to financial services as customers directly in London. We save a lot here and pass those savings directly to you. Thanks to our full European banking license, individual deposits are insured up to €100.000. Combined with the most modern security technology, customers can bank confidently knowing that their money is secure.”
N26 also operates in 17 other countries, which are Austria, Belgium, Estonia, Finland, France, Germany, Greece, Ireland, Italy, Latvia, Lithuania, Luxembourg, Netherlands, Portugal, Slovakia, Slovenia, and Spain and currently employs 290 people.