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German regulator caps N26’s growth at 70k users per month

• gigatexal 5y ago
  Why?
  • missedthecue 5y ago
    "The measure was imposed by BaFin in early October after the regulator became increasingly dissatisfied with organisational flaws at the fast-growing bank. As a result, N26 will only be able to accept 50,000 and 70,000 new customers a month until it has fixed a number of specific issues flagged by BaFin, down from the average of 170,000 clients it had been taking in this year. BaFin declined to comment"
    • gigatexal 5y ago
      Hmm. This seems like fallout of WireCard. Well N26 is my bank here in Germany so if it prevents some catastrophic failure then I’m all for it.