Digital technologies have changed the way banks interact with their customers. Clients expect a customer experience on a level with the digital giants Apple, Google, Microsoft or Facebook. While banks are still struggling to understand the potential of digital technologies other companies are exploring new grounds in the financial services sector. Together with the digital bank Fidor, GFT built an award winning mobile banking solution for telecommunications services provider o2.

Launch Germany’s first mobile-only, full-service bank account

  • With almost 43 million customers in Germany under the brands o2 and E-plus, telco operator Telefónica Deutschland decided to enter the mobile banking market, to stay ahead of competitors also moving into the financial services space
  • The new bank will operate under a distinct business model, rewarding customers with an additional volume of data for their smartphone instead of traditional interest rates

Develop a native mobile banking solution supported by Fidor Bank

  • Through a partnership with Fidor Bank, Telefónica Deutschland can offer a fully-fledged banking service, without having to develop a banking infrastructure or obtain a banking licence
  • GFT and Fidor jointly developed the new o2 Banking solution
  • The solution includes native apps for iOS and Android, leveraging the specific features of each device and operating system

Award winning mobile bank launched in record time

  • o2 Banking was ready to launch in record time. It started its operations in Germany in the summer of 2016
  • Initial response from the market was extremely positive. The new bank received the Handelsblatt and Euro Forum 2016 DIAMONDSTAR award in the area of Digital Banking

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