The Netherlands gets new direct bank

The Netherlands gets new direct bank

A new online and mobile-centric bank, called Knab, has launched in the Netherlands, promising to use social media tools and technology to offer a more transparent and personalised service.

Financially backed by insurance giant Aegon, Knab (bank spelt backwards) is the brainchild of Rene Frijters, who helped found investment bank Alex.

It charges a flat monthly fee of EUR15, for which customers get access to a detailed online dashboard complete with personal finance management tools; a mobile app; and virtual branches, where users can chat to staff via webcam.

The bank is also using social features heavily, writing a regular blog, 'Knab Live', offering online seminars and making use of Twitter and Facebook. Its "socially conscious" credentials are heavily advertised, with the promise of support to local charities.

Says Frijters: "We have the unique chance to dialogue with customers - from scratch - a new bank to set up. Knab will continuously engage in discussions with its customers to the service to strengthen, including through the unique platform Knab Live on the Web site."

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