The German neobank N26 wants to grow faster in Belgium. N26 claims to have 200,000 users in our country.
That should be three times as many by 2025, says Jérémie Rosselli, general manager for France and the Benelux.
N26 is one of the fastest-growing digital banks in Europe. At the beginning of this year, the neobank reached the 7 million users mark.
But N26 was also discredited when it unjustly blocked and closed customer accounts a few months ago. There were also victims in Belgium. “That was a mistake for which we apologize. It should not have happened,” says Jérémie Rosselli.
The mistake happened as part of the bank’s tightened anti-money laundering policy. N26 was repeatedly reprimanded by regulators because its control systems in the fight against fraud and money laundering were inadequate. That is why they imposed growth restrictions on the bank in Italy and Germany.
A solution has now been found for the approximately 1,000 affected customers, says Rosselli.
In Belgium, N26 claims to have 200,000 users. In 2020, the bank welcomed 40,000 new customers and 45,000 last year. That growth should accelerate in the coming years. “We aim to triple the number of customers by 2025,” said Rosselli. “That’s a realistic goal.”
He points out that most of N26’s customers in Belgium are active users: “Our customers carry out an average of 17 transactions per month, worth 1,100 euros.
Our app has become their daily banking tool for them. We encourage that use because the fees on payment services generate income for us. The paying premium packages form a second source of income. As a result, N26 is already profitable in Belgium.”