Digital bank: Radical restructuring instead of strong growth: "marketing cap" brakes N26.
The once best-known German fintech is noticeably quiet today. This is also due to requirements imposed by the financial supervisory authority. Insiders provide insights into the difficult new beginning of the Berlin neobank.
Several fintech companies are shaking up the German banking market, including Revolut, which is offering 4.25 percent interest on daily savings accounts, and Scalable, which has announced low fees for its new retirement savings depot. Trade Republic is also attracting new customers with a major marketing campaign featuring US actor Brad Pitt.
Meanwhile, Berlin-based Neobank N26, once Germany's most well-known and valuable fintech, has been quiet for months following the departure of its founders and the takeover by Mike Dargan in April. N26 is currently limited by the German financial regulator Bafin in its marketing spending.
Written by urgent.news from Handelsblatt's report — not a translation of it. Machine-written — may contain errors; check the original before relying on it.
