There are more than 5,000 banks in Europe. The total number of mobile banking users is more than 12M with an annual double digit growth. There is evidence that on average people have relationships with four financial institutions. Right now there is no single application that can replace the mobile banking apps offered by the banks. This means that on average a person needs to have four different mobile banking apps to cover her banking needs. Clearly this is not practical and there is huge room for improvement. We are here to solve this problem as we have created the only mobile banking app that you will ever need regardless of the number of banking product you have and the number of banks you use. Unlike our competitors we are not only going to aggregate information but allow the users to initiate transactions. Our product is already available and we are very close to connecting the first bank in our app.
Some of the major features of our app are the following:
- Carry out all daily banking needs from a single app
- Initiate transactions such as transfers, peer-to-peer payments and bill payments.
- Compare different banking products across banks and apply
- Get advice on the best banking product for her specific needs
- Manage finances across different banks
- Get advice for the best payment method with the lowest transaction fees
- Get location based offers
All the major influencers of the banking sector are pointing out that the same kind of platformication that we have experienced in lodging (Airbnb), transport (Uber), content (Youtube), social interaction (Facebook), etc is coming to the banking sector. Eventually users will not care if they are using a product or service from Pineapple Bank or Watermelon Bank as long as they are getting the best deal. This is what we are trying to offer to the consumer. Furthermore, PSD2 is coming to effect in 2018 and banks will be forced to open up APIs.
Additionally we have a great team with huge experience in the banking sector.
In summary we have most of the magic ingredients for success:
- A great product
- A great team
- A sizeable market
- Clear need for our product
- We are in the same direction as trends in the industry
- The regulatory framework (PSD2) is also in our favour
Please contact us if you are interested in helping us realizing our dream which is to provide the only mobile banking app you will ever need.
If you are interested in investing please contact us