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Home Challanger banks N26 exceeds 2 million customers in France

N26 exceeds 2 million customers in France

N26 announced that it has convinced 2 million French customers to use its services after 4,5 years since entering the market.

Read also: Revolut launches Dogecoin as another push towards cryptos

The German challenger bank has set itself the goal of 5 million customers by 2024 in France.

For 18 months, N26 has managed to register 2,000 new customers per day, even on Sundays.

The company indicated that its mobile application is used on a daily basis by the majority of its customers. In France N26 represents a volume of more than 1 billion euros of transactions per month on average (over the last 6 months).

Today, of the 1,500 employees of N26, nearly 250 people are dedicated to the French market. 2021 also marks the opening of the Paris office with the N26 France management team. 

“In 2020, the banking world changed rapidly. Overnight, we found ourselves in 2030. The mobile phone is now the daily wallet. Cash and branches are giving way to apps and mobile payments. No more hidden costs and paperwork—the French want to manage their bank like they manage their energy, telephone or entertainment—on their phone.”, explains Jérémie Rosselli, CEO N26 France & BeNeLux.

N26 is also about to launch some more functions aimed at making life easier for its customers. 

By this summer, N26 will launch IBANs for each sub-account in 24 European countries. This function will be used to share the bills with friends or family this summer and, at the start of the school year, there will be the possibility of paying in installments to spread a large purchase.

N26: some figures on French customers

  • 38% of French customers of N26 have between 25 and 35 years old; 23% are younger, 39% older.
  • They spend 1050euros per month, on average, in 20 transactions.
  • They put 370euros ct, on average, in Spaces sub-accounts.
  • They performed more than 250,000 consumer credit requests Younited Credit, the partner of N26.
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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