N26 has to deal with the financial supervision. Actually, the smartphone bank is a success story for the German startup scene.
Then and now
Founded in 2015, today it has a market value of 2.3 billion euros and around 2.5 million users. But now suddenly the complaints of customers and other banks are piling up after N26 was simply unreachable in some tricky situations.
As a result, the financial supervisory authority has become clueless and, according to a media report, has identified and called for deficiencies.
N26 will have to reform its business
N26 boss Valentin Stalf has already praised improvement. In an interview with Gründerszene Stalf already announced changes at the beginning of April: Fintech, for example, wants to be available around the clock via chat.
Also published on Medium.