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Brexit makes for a convenient scapegoat when your business isn’t compelling to U.K. customers.

• jamil7 7y ago
  You might be right, here in Germany the banks are extremely archaic and make things difficult if you're a foreigner and just moved here. N26 onboarding is streamlined (video call on your phone) and can be done in at least English and German, maybe other languages now they're expanding. They also invested heavily in native mobile experience first while the other banks where struggling to offer decent online banking.
  • dividuum 7y ago
    Not sure how that's today, but a few years ago their "mobile experience first" stuff resulted in quite some security issues: https://media.ccc.de/v/33c3-7969-shut_up_and_take_my_money https://media.ccc.de/v/33c3-7969-shut_up_and_take_my_money. That alone would be enough for me to not trust them with any of my money.
    • jamil7 7y ago
      Yeah I've seen the presentation thanks. I'm also not sure how their security stands today but theres no reason "mobile first" has to mean "bad security".
• rchaud 7y ago
  Isn't that the case for the majority of new businesses? It takes time and investment to build a customer base, and you might be in the red for the first few years. Better-capitalized companies like Uber, Dropbox and Spotify etc have been around for ~10 years and can't make a profit. You are thinking of this in terms of Brexit. N26 are thinking of this in terms of the costs of getting UK license and managing UK regulations on top of EU regulations, relative to what they think they can achieve in the UK. They decided it might be safer to stick to their existing market.
• imtringued 7y ago
  Why care if your business isn't compelling to one market out of 27? As long as you have a valid license you can take your time. Unfortunately they don't have that luxury.