N26 and TransferWise case study Why is fintech on the rise? Why are consumers switching from banks to alternative service providers? Banks marketplace model

1. N26-TransferWise
re-invent banking
Jordan Valdma, Partnerships, API @ TransferWise
Daniel Endler, Product @ N26
1

2. TransferWise Confidential (2015) 2
The Fintech Times
https://thefintechtimes.com/banks-love-fintechs/
Partnership then makes perfect sense..fintech companies provide the
product, banks provide the customers…embedded API, co-branded
design - you think you are still on the bank’s site, but you’ve actually
been transferred to a fintech platform run by a team of young devs in
Estonia.
“

3. Why is fintech on the rise?

4. 53%
of people in UK think banks mainly focus on profits, not on the customer's needs
Source: TransferWise Future of Finance study

5. 10%
of people in UK are saying that banks offer a great service and a fair deal.
Source: TransferWise Future of Finance study

6. 73%
of consumers say that they would consider using technology providers for services
that they usually use their bank for.
Source: TransferWise Future of Finance study

7. TransferWise Confidential (2015) 7
What customers care about?

8. What will the market look like?

9. TransferWise Confidential (2015) 9
Customers and industry now recognize the large price
difference between TransferWise and the banks
source source
TransferWise vs Industry TransferWise vs Non-Bank Providers

10. TransferWise Confidential (2015) 10
Cross border payments cost structure

11. TransferWise Confidential (2015) 11
Bank revenue margin will go negative

12. TransferWise Confidential (2015) 12
PSD2

13. Marketplace model for banks?

14. Use-case
N26 Inegration

15. Hassle free
International
transfers
Powered by:

16. 16
⬒ Card and checking account
⬒ Realtime transfers and notifications
⬒ One-touch access to financial products
⬒ Strong virality driven by exceptional
product experience
Product
N26 is building the first
global mobile bank

17. 17
Product
Our FinTech Hub leverages the best
partners to ship superior products
Cooperation already launched

18. 18
Reaching 99% of Eurozone
population by end of 2016
Internationalization
Dec 2015
Jan 2015
Dec 2016

19. Scalable and sustainable TW & N26 connection
High level integration
Currencies / fields
available
Register user
Check funds & initiate
payment
Payment in target market

20. Deep integration has multiple benefits
Benefits of Integration
⬒ Integration prevents 95% of support cases
⬒ Integration to known UI/UX
⬒ Instant availability in new markets
⬒ Extensible integration to new currencies w/o new apps
⬒ Joint brand recognition and trust
⬒ Faster transfers than using both separately

21. Flow DEMO

22. Start screen

23. Integration to the menu

24. Choose new recipient

25. Choose currency

26. Choose amount and
realtime FX rate

27. Enter transfer details

28. With field validation

29. Reference text

30. See summary

31. Confirm transfer

32. Thank you