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N26 uses AR to put famous women on cash

Digital bank N26 has launched a new AR effect that highlights the low representation of women on banknotes.

N26 users are able to open the filter on Instagram or Facebook and hold up any €5, €10, $1, $5, or $10 note/bill to their phone’s camera.

Read also: Starling Bank confirms £272m funding round led by Fidelity Investments

If the user puts their banknote up to their phone’s camera, they can watch George Washington morph into some important woman, from Rosa Parks to Emmy Noether to Emilia Pardo Bazán.

“Though women make up half of the population, only 12 percent of bills featuring a person are women, globally, and that includes Queen Elizabeth, who appears on every piece of currency in the Commonwealth,” said Stephanie Balint, N26’s interim general manager in the U.S. 

“N26 is known for disrupting the world of finance and banking with technology, and this is our way of calling attention to this inequality, calling for balance while showcasing the achievements of outstanding women in history at the same time,” she added.

The “Balance the Banknotes” effect is aimed to raise awareness about representation, but N26 has developed more options to champion women this month.

For the entire month of March, N26 is supporting Women for Women International. This is a way to support women who have survived war and conflict, so they can learn the skills they need to rebuild their families and communities.

To contribute, any N26’s user may tap the “Send money” icon in their N26 app, and select “Donate.”

N26 managed to add 2m customers during 2020 as it prepares to expand its subscription services and business banking offerings.

N26 has also disclosed the monthly transaction volumes which are about €5.5bn a month and is about to hire 200 new product and tech roles in 2021.

“Now more than ever, digitalisation and innovation are fundamental to Europe’s future,” N26 chief executive Valentin Stalf said. “We will continue to bring exciting everyday banking features to millions of additional customers who still feel stuck in the offline world.”

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Jan Cerny
Jan is an innovation enthusiast and Fintech news reporter. He specializes in news distribution, social media, and content analysis.

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