The Zurich-based online bank neon is on the growth path. Since the beginning of the year, it has increased its customer base by 220 percent to 40,000 people. Each month, around 3,000 new customers are joining the bank.
“We see our increasing growth and positive customer activity as a strong market signal that we are doing the right thing and that banking customers are increasingly receptive towards mobile products”, comments Jörg Sandrock, co-founder of neon, in a press release. By the end of the year, neon is aiming to break through the barrier of 50,000 users.
According to information in the press release, the proportion of active customers stands at 70 percent. User interest is therefore “visibly high” and is rising further still. In this context, the average number of transactions per customer per month has increased by 20 percent in comparison with the start of this year. Customer deposits are also ten times higher than is the case at other “challenger” banks, according to neon.
Since the start of 2020, neon has additionally introduced several product innovations. These include a fully digitised photo-based onboarding process. Moreover, the bank has agreed a partnership with TransferWise for foreign payments, while neon is working with smile.direct in the area of insurance.