bunq and fino partner for onboarding

Wednesday 19 May 2021 13:22 CET | News

The Netherlands-based challenger bank bunq has announced partnering with Germany-based fintech fino for their account switching service. 
This partnership facilitates the account switching process for new users and improves bunq’s onboarding process, allowing new bank accounts to be fully operational in a shorter time. In the bunq banking app, users log into their previous online banking system, and fino automatically identifies all payment partners, from which the user selects the ones he would like to switch to. Upon request, all documents can be created and sent to the payment partner, meaning the user only needs to cancel their old account.

In addition, the fino account switching aid supports bunq employees and users with processing and compliance with legal requirements, since the process is based on the requirements of the Payment Accounts Act. Both the account switching service and the account switching assistance are implemented via a white label service that bunq can operate. According to a bung representative, the company wants to make the switch to bunq as easy as possible for customers with this fino partnership. 

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Keywords: partnership, digital onboarding, bank account, account takeover
Categories: Banking & Fintech | Online & Mobile Banking
Countries: Germany
This article is part of category

Banking & Fintech