Frankfurt Around three years after its launch, the bank of the comparison portal Check24 has just around 100,000 customers. The young bank C24 names a specific number of customers for the first time.
“In the past, we deliberately didn’t want to grow so quickly,” said Lasse Schmid, General Representative of C24, to the Handelsblatt. “Rather, we have concentrated on further expanding our product.” C24 is now hoping for new customer growth, above all through the interest on the current account.
The number of just 100,000 customers makes it clear that the business of a neobank is not a sure-fire success. This is all the more true because the competition in the German banking market is fierce.
Direct banks such as ING Germany, Comdirect and DKB also target online-savvy customers and offer free checking accounts under certain circumstances, usually a minimum monthly payment.
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