Monday, 28 November 2022

German digital bank N26 to stop operations in US

5 min read

18 November 2021 – N26 announced that its digital banking experience will no longer be available to customers in the US after 11 January 2022. The announcement comes as the digital banking leader continues to sharpen its focus on its European business, with an emphasis on expanding its offer beyond its current accounts to cover additional financial products and services.

N26 will focus its strategy on broadening its digital banking experience into new verticals to include investment products in the coming year, with the goal to create an even more complete and compelling digital proposition. By bringing additional financial services and products into its experience, N26 aims to further empower customers to manage additional aspects of their financial lives simply and seamlessly.

On top of strengthening its core business operations in Europe, where digital banking adoption continues to be in its infancy, N26 is also assessing future expansion into additional markets in Eastern Europe in response to growing customer demand in the region.

N26’s vision is to build the bank the world loves to use, and the digital banking pioneer will continue to work towards this. Learnings from N26’s two years of growth in the US market are being constantly applied as it further expands its product portfolio and scales its global business.

US customers will be able to use their accounts as usual until 11 January 2022, and will receive further instructions on how to withdraw their funds to ensure a smooth transition.

Re-disseminate by The Asian Banker from N26

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