Fidor will roll out several services which include a current account, debit card and corporate account service. The bank will also offer products including peer-to-peer lending and crowdfunding from third-parties to its customers.
The bank boasts nearly 100,000 customers, is community-based, turning to its customers to participate in how the bank is run. Users build up a profile and gain karma points for interacting and offering financial advice to others. So far 300,000 people have used its services, including the online community, and the bank has 100,000 customers. In 2014 it made a profit of EUR 2.5 million, according to The Telegraph.
Fidor has a German banking licence that can be used to offer the same services across the EU, although the details of local banking rules vary between countries.
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