Silicon Canals
TRENDING
  • Mobility
  • AI
  • FinTech
  • Software & SaaS
No Result
View All Result
  • Home
  • News
    • Ukraine
    • Startups
    • Scaleups
    • FinTech
    • AI and chatbots
    • Travel & Mobility
    • Software & SaaS
    • Health & Medtech
    • (Crowd)funding
    • Blockchain
    • Internet of things
    • Hardware
    • Accelerators
    • E-commerce
    • Cybersecurity
    • Gaming & Virtual Reality
    • Drones
    • COVID-19
  • Features
    • How-to
    • Knowledge & Insights
    • Guest Contributions
  • Partners
    • Amsterdam
    • Rise by Techleap.nl
    • Fintech Files by AWS
    • Scaling-up in Europe
    • Blue Tulip Awards
    • Partner with us
    • Promoted content
  • Events
    • Technology Events in Europe
    • Submit your event
  • Jobs
  • About us
    • Partner with us
    • About
    • Team
    • Newsletter
  • Contact
  • Home
  • News
    • Ukraine
    • Startups
    • Scaleups
    • FinTech
    • AI and chatbots
    • Travel & Mobility
    • Software & SaaS
    • Health & Medtech
    • (Crowd)funding
    • Blockchain
    • Internet of things
    • Hardware
    • Accelerators
    • E-commerce
    • Cybersecurity
    • Gaming & Virtual Reality
    • Drones
    • COVID-19
  • Features
    • How-to
    • Knowledge & Insights
    • Guest Contributions
  • Partners
    • Amsterdam
    • Rise by Techleap.nl
    • Fintech Files by AWS
    • Scaling-up in Europe
    • Blue Tulip Awards
    • Partner with us
    • Promoted content
  • Events
    • Technology Events in Europe
    • Submit your event
  • Jobs
  • About us
    • Partner with us
    • About
    • Team
    • Newsletter
  • Contact
No Result
View All Result
Silicon Canals
No Result
View All Result

Digital banking boom during coronavirus pandemic: How will it affect e-wallets’ demand in Germany?

Editorial team by Editorial team
April 30, 2020
in News, FinTech, Startups
This female-founded Amsterdam-based tech startup secured €500K at Dragons’ Den
304
SHARES
LinkedInTwitterWhatsAppFacebook

The increase in the digitalisation of banking services via apps heralds an upcoming transformation in the fintech industry. A recent study by global financial comparison platform Finder.com shows that within the next five years, which is by 2025, around 27.8 million German adults are expected to have online-only bank accounts.

Which means digital banks are set to boom in Germany, with 40% of adults expected to have an account by 2025. Finder’s survey of 1,509 German adults conducted in March reveals 28%, or an estimated 19.7 million people, currently have an online-only bank account. With 12% planning to open an account in the next 5 years, that means the number of neobank account holders could balloon to around 27.8 million as soon as 2025.

- Partner content -
digital skills dutch workforce
Salesforce’s report on Dutch workforce’s digital skills
Has the Dutch workforce mastered all digital skills? Find out
Has the Dutch workforce mastered all digital skills? Find out Show Less
Read more

Global fintech editor at Finder, Elizabeth Barry, says the novel coronavirus pandemic could act as a catalyst for digital banking adoption. “Restricted movement means that what was once forecasted for the next five years could be squeezed into a much shorter time frame,” Barry says.

“However it’s possible that reduced spending and low consumer confidence could actually eat into challenger banks growth rate. It’s not clear yet whether the coronavirus will help or hinder neobanking adoption.”

Online banking has become a preferable option due to the high level of convenience it has to offer. Also, it is secure and accessible at any given time. Eventually, these convenient factors have paved the way for a digital revolution in the banking industry. Having said that, today we take a look at the most popular digital banks/apps in Germany in 2020.

Picture credits: N26

N26 (Germany)

Founder/s: Maximilian Tayenthal, Valentin Stalf
Founded year: 2013
Funding: €621 million

N26 lets opening an account possible in as quickly as 5 minutes directly from your smartphone sans waiting in long lines and filling complicated paperwork. What’s more interesting is that there is no need to maintain any minimum balance and there isn’t any maintenance charges or foreign transaction fees. N26 will send instant notifications regarding all account activities such as withdrawals, payments, and deposits. On referring a friend, you will get a cash bonus as well.

Picture credits: bunq

bunq (Netherlands)

Founder/s: Ali Niknam
Founded year: 2012
Funding: €44.9 million

bunq is a fully operational mobile bank that is accessible via your smartphone. You can create a bunq account from your phone in just 5 minutes. Recently, Amsterdam-based bunq made opening joint accounts easier with the launch of bunq +1, which lets users create a joint account with their partners, employees or children. All the bunq +1 account holders will get their own card and will be able to view transactions and deposit money.

Picture credits: Revolut

Revolut (UK)

Founder/s: Nikolay Storonsky, Vlad Yatsenko
Founded year: 2015
Funding: €763 million

London-based digital bank Revolut is a well-known service in the industry. It operates with the mission to build an open and frictionless platform to use and manage money. The fintech startup offers a prepaid debit card, peer-to-peer payments, and currency exchange among other features. Earlier this year, Revolut came up with a new called Revolut Junior, which teaches kids basic financial skills that are needed for their life.

Picture credits: Tomorrow

Tomorrow (Germany)

Founder/s: Jakob Berndt, Michael Schweikart, Inas Nureldin
Founded year: 2017
Funding: €8.5 million

With Tomorrow, you will be able to open an account in just 10 minutes using your smartphone without any paperwork and formal hurdles. This digital banking service lets you do everything that you need to manage your account such as change the PIN and smart features. It also sends push notifications for all transactions and provides you an insight into your account at any given time. What’s more interesting is that the Tomorrow account does not require you to pay any charges.

Picture credits: insha

insha (Germany)

Founder/s: Meliksah Utku
Founded year: 2018
Funding: NA

Germany-based insha is a digital banking service that offers eco-friendly and sustainable solutions as it doesn’t involve any paperwork. All correspondence and transactions are managed online. The insha banking app is user-friendly and has a slew of practical features such as the ability to reset spending limits on your debit card. It also sends real-time notifications about account-related activities. You can open an insha account in just 10 minutes and the debit card will be shipped to your postal address.

Picture credits: neon

neon (Switzerland)

Founder/s: Jörg Sandrock, Simon Youssef, Julius Kirscheneder, Michael Noorlander
Founded year: 2017
Funding: €4.2 million

Zurich-based neon lets you open a bank account and manage your debit card and account via an app. The digital banking service will help you keep track of your everyday finances. There is no base fees and the service provides you with a free Mastercard as well. Open a neon bank account in less than 10 minutes and manage your finances in just a few clicks with the neon banking app.

Picture credits: Monese

Monese (UK)

Founder/s: Norris Koppel
Founded year: 2013
Funding: €73.1 million

Monese reimagines banking services by creating financial freedom for its users and letting them easily manage their money from anywhere and anytime. Monese’s technology can validate the identity of customers in real-time enabling customers to open an account in a matter of minutes, using a mobile app. Monese’s fully-featured UK banking account comes with cheap global payments and a contactless debit card.

Picture credits Wirex

Wirex (UK)

Founder/s: Dmitry Lazarichev, Pavel Matveev
Founded year: 2014
Funding: €3 million

Wirex is an FCA-licensed global digital money solutions provider for businesses and individuals. It offers the first borderless payment platform to integrate both cryptocurrency and traditional money transfer and exchange services. The service is built using state-of-the-art technology, which integrates traditional currency and cryptocurrency. Wirex is PCI DSS Level 1-certified, giving your funds the highest level of protection possible.

Picture credits: Qonto

Qonto (France)

Founder/s: Alexandre Prot, Steve Anavi
Founded year: 2016
Funding: €136 million

Qonto is a neobank for freelancers and SMEs. It provides great customer support, transparency, and connection to carry out day-to-day business management. Qonto’s versatile design adapts to all types of companies, for any legal form or team size. Qonto provides all the necessary tools to master the finances of an organisation. It is designed to make to simple to manage all transfers, debits, card payments, and small details.

Picture credits: VIALET

VIALET (Latvia)

Founder/s: Artjoms Grivkovs
Founded year: 2017
Funding: NA

VIALET provides users with the financial service management tool that they always deserve. Without any unnecessary bank visits, you will be able to experience your complete power with this startup. It lets you be in charge of your finances. You can manage your own VIALET Mastercard, open an account, manage finances, and transfer funds at anywhere and anytime.

Picture credits: norisbank

Norisbank (Germany)

Founder/s: NA
Founded year: 1954
Funding: NA

norisbank is a strong and successful brand in the banking industry in Germany with a presence of over five decades. Adapting the modern technologies that make lives of its customers more comfortable, norisbank has come up with digital banking services that will provide more flexibility, convenience and service at anytime. Users can just manage their account online and get all the insights into their finances.

Picture credits: Bitwala

Bitwala (Germany)

Founder/s: Benjamin Jones, Jan Goslicki, Jorg von Minckwitz
Founded year: 2015
Funding: €19.4 million

Bitwala is the service that built the world’s first account to offer customers a regular bank account, a bitcoin wallet and trading integrated into a single platform. Eventually, it is possible to buy and sell bitcoin and ether directly from your bank account. Bitwala lets you open an online bank account in just five minutes and does not require any maintenance charges. The cryptocurrency trading charges is only 1% and ensures instant liquidity.

Stock photo from Ascannio/Shutterstock

Stay tuned to Silicon Canals for more European technology news.

 - Partner content -
How cybersecurity scaleup Intigriti conquered the world?
How cybersecurity scaleup Intigriti conquered the world?
Catch our interview with Paul Down, Head of Sales at Intigriti.
Catch our interview with Paul Down, Head of Sales at Intigriti. Show Less
Read more
Tags: featuredFinTechGerman startups
Share14Tweet49SendShare188

Featured events

Current Month

may

28apr(apr 28)12:1331may(may 31)12:13FeaturedApplications for Techleap.nl’s Rise Batch 8 are open now

Techleap

Event Details

Are you an ambitious scaleup operating out of the Netherlands? Accelerate your growth with Techleap.nl’s Rise programme. Join their Batch #8!

Event Details

Are you an ambitious scaleup operating out of the Netherlands? Accelerate your growth with Techleap.nl’s Rise programme. Join their Batch #8!

Rise is an exclusive programme for serious tech players. In a trusted environment, scaleup founders share and discuss their growth challenges during tailor-made sessions with experienced entrepreneurs and scaling experts. Every quarter we select 10 companies to join the programme. It’s free, and we don’t seek equity. Check now if your company is eligible!

About Techleap

Techleap.nl’s programmes connect founders with scaling icons, industry experts and fellow tech entrepreneurs. It’s your chance to share challenges and hurdles with peers and established CEOs, and as a result, create favourable growth conditions for your business and overcome looming obstacles on your entrepreneurial path.

If you have any questions about the programme or the application process, please contact the Rise Batch Manager – Peter-Jan Kok at [email protected].

Apply here.

more

Time

April 28 (Thursday) 12:13 - May 31 (Tuesday) 12:13

Learn More

CalendarGoogleCal

june

Taets Art and Events ParkHemskade 16, 1506 PR Zaandam

16junAll Day17FeaturedTNW Conference

Event Details

Join TNW Conference in Amsterdam on June 16 & 17 to all you need to know about the latest market killers and breakout tech, connect with the industry’s who’s-who, and

Event Details

Join TNW Conference in Amsterdam on June 16 & 17 to all you need to know about the latest market killers and breakout tech, connect with the industry’s who’s-who, and turn your business meetings upside down on our ferris wheel… With endless networking opportunities, the world’s boldest voices, and unrivaled party vibes, this year’s TNW Conference will be off the charts!

Time

june 16 (Thursday) - 17 (Friday)

Location

Taets Art and Events Park

Hemskade 16, 1506 PR Zaandam

Learn More

CalendarGoogleCal

Partner content | Work with us

European Startups can expand to Asia through the South Korean Government’s K-Startup Grand Challenge

Running a small business? These 5 tips can create a domino effect of productivity across your entire company

Triller acquires Dutch DJ Sam Feldt’s Fangage to expand its platform for creators

Sweden’s Gimi partners with Dutch bank ABN AMRO to help young people manage and understand their finances

Calling all startups aiming to test their mobility innovations in the real world: Mobility Lab 2022 registration is now open

Silicon Canals | Jobs


Breaking news from Amsterdam | Partner

Amsterdam’s Timberhub raises €1.5M led by Speedinvest to digitise the timber trade

Founded by two ex-Googlers less than a year ago, Amsterdam’s GetEase raises €700K, launches new app

Amsterdam’s plant-based cheese startup Willicroft raises €2M led by Rockstart and PINC

Amsterdam-based Healthplus.ai raises funding from LUMO Labs to curb postsurgery infections; here’s how

  • About Silicon Canals
  • Partner with Silicon Canals
  • Contact us
  • Newsletter
  • Disclaimer
  • Privacy Policy
  • Cookie Policy (UK)
  • Cookie Policy (EU)
  • Terms & Conditions Silicon Canals

Silicon Canals 2014-2022 | Website: Bright Idiots

No Result
View All Result
  • Home
  • News
    • Ukraine
    • Startups
    • Scaleups
    • FinTech
    • AI and chatbots
    • Travel & Mobility
    • Software & SaaS
    • Health & Medtech
    • (Crowd)funding
    • Blockchain
    • Internet of things
    • Hardware
    • Accelerators
    • E-commerce
    • Cybersecurity
    • Gaming & Virtual Reality
    • Drones
    • COVID-19
  • Features
    • How-to
    • Knowledge & Insights
    • Guest Contributions
  • Partners
    • Amsterdam
    • Rise by Techleap.nl
    • Fintech Files by AWS
    • Scaling-up in Europe
    • Blue Tulip Awards
    • Partner with us
    • Promoted content
  • Events
    • Technology Events in Europe
    • Submit your event
  • Jobs
  • About us
    • Partner with us
    • About
    • Team
    • Newsletter
  • Contact

Silicon Canals 2014-2022 | Website: Bright Idiots

Stay updated with the Silicon Canals daily and weekly newsletters.
We promise we won't spam you. You can choose to unsubscribe anytime.
Stay updated with the Silicon Canals daily and weekly newsletters.
We promise we won't spam you. You can choose to unsubscribe anytime.
Silicon Canals
Manage your privacy

To provide the best experiences, we and our partners use technologies like cookies to store and/or access device information. Consenting to these technologies will allow us and our partners to process personal data such as browsing behavior or unique IDs on this site. Not consenting or withdrawing consent, may adversely affect certain features and functions.

Click below to consent to the above or make granular choices. Your choices will be applied to this site only. You can change your settings at any time, including withdrawing your consent, by using the toggles on the Cookie Policy, or by clicking on the manage consent button at the bottom of the screen.

Functional Always active
The technical storage or access is strictly necessary for the legitimate purpose of enabling the use of a specific service explicitly requested by the subscriber or user, or for the sole purpose of carrying out the transmission of a communication over an electronic communications network.
Preferences
The technical storage or access is necessary for the legitimate purpose of storing preferences that are not requested by the subscriber or user.
Statistics
The technical storage or access that is used exclusively for statistical purposes. The technical storage or access that is used exclusively for anonymous statistical purposes. Without a subpoena, voluntary compliance on the part of your Internet Service Provider, or additional records from a third party, information stored or retrieved for this purpose alone cannot usually be used to identify you.
Marketing
The technical storage or access is required to create user profiles to send advertising, or to track the user on a website or across several websites for similar marketing purposes.
Statistics

Marketing

Features
Always active

Always active
Manage options Manage services Manage vendors Read more about these purposes
Manage options
{title} {title} {title}
X
X