Led by Valentin Stalf, CEO, and Maximilian Tayenthal, CFO, and Number26 is developing a mobile banking product for smartphones that offers a free account and associated MasterCard®, which tracks expenditures instantly, and produces statistics to allow users to keep their finances under control.
The user receives a notification on his phone for any transaction and can withdraw money worldwide free of charge.
The company is currently testing the product with selected users. The accounts are offered jointly with a German partner bank that holds the respective banking license. Customers’ funds are thus protected by the German deposit insurance up to an amount of €100,000.