30 March 2017
visit nextgenbanking.co.uk

Telefonica Germany launches Fidor-backed mobile banking service

25 July 2016  |  11113 views  |  1 Woman with shopping bag

Telefonica Germany has launched a mobile banking service using white-label technology supplied by Fidor Bank.

The free O2 Banking app is now available for download for iOS and Android devices, offering onboarding via video link, transactions via phone number, a free debit MasterCard and "minor" instant loans.

Telefonica says that the service is the first mobile-only bank account from an MNO. The firm has enlisted the expertise of local digital bank Fidor, which is providing cloud-based infrastructure as well as a banking licence that is valid throughout Europe, along with individual customer, card and transaction services.

To win over customers, O2 mobile customers will receive up to 500 MB of additional data if they open an account and use it enough.

Markus Haas, COO, Telefónica Deutschland, says: "O2 Banking is setting the standard for the mobile bank account of the future as well as the manner in which people manage their finances in the digital age. This is not only thanks to our concept of ‘Megabytes not meagre interest'. We also offer unique features, optimal usability as well as full transparency of services and fees."

Comments: (1)

John BaRoss
John BaRoss - FINCCLUDE Incorporated - Long Valley | 25 July, 2016, 20:19

How is this Telefonica Germany-Fidor mobile banking service similar and different than:
1) Orange's mobile banking in Poland & France?
2) Telenor banka in Serbia?
3) KDDI-Jiban in South Korea? 

Be the first to give this comment the thumbs up 0 thumb ups! (Log in to thumb up)
Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

Fidor sets up shop in Dubai

Fidor sets up shop in Dubai

14 June 2016  |  6082 views  |  0 comments | 7 tweets | 1 linkedin
Telefonica to launch mobile bank with technology from Fidor

Telefonica to launch mobile bank with technology from Fidor

12 May 2016  |  19093 views  |  2 comments | 52 tweets | 51 linkedin
Fidor rolls out first debit cards

Fidor rolls out first debit cards

21 January 2016  |  7614 views  |  0 comments | 8 tweets | 9 linkedin
Telefonica, CaixaBank and Santander JV launches small biz customer loyalty service

Telefonica, CaixaBank and Santander JV launches small biz customer loyalty service

11 June 2014  |  9095 views  |  0 comments | 4 tweets | 6 linkedin

Related company news

 

Related blogs

Create a blog about this story (membership required)
Visit capgemini.comvisit abe-eba.eu

Top topics

Most viewed Most shared
Danish banks add Dankort payments to mobile walletsDanish banks add Dankort payments to mobil...
15211 views comments | 2 tweets | 7 linkedin
European Commission opens public consultation on fintechEuropean Commission opens public consultat...
13765 views comments | 53 tweets | 32 linkedin
MAS to roll out national KYC utility for SingaporeMAS to roll out national KYC utility for S...
12536 views comments | 33 tweets | 46 linkedin
hands typing furiouslyTwo key technologies driving Machine Learn...
8940 views 0 | 16 tweets | 4 linkedin

Featured job

Six Figure Base + Commission + Stock Options
London

Find your next job