It enter the financial market in early
2015, offering customers the ability to open accounts and conduct financial transactions using a smartphone. Last year, the project tunisia whatsapp data about 12 million euros in investment to create a digital bank account accessible through mobile apps. N26’s investors include Peter Thiel, who was once Facebook’s first outside investor.
N26 positions itself as an alternative to traditional banks and has no branches. Despite this, the mobile bank still relies on traditional banking networks. N26 accounts are link to a debit card that can be us at ATMs and stores that accept MasterCard. The company does not have a banking license, so all the money in users’ accounts is actually manag by the German bank Wirecard.
The advantage that distinguishes
N26 from “classic” banks is the spe of opening accounts – it takes a few minutes. “The bank claims that you can open a bank account in eight minutes. It turns out that you can lose your funds even faster,” Hooper said. The expert does not disclose information about the vulnerabilities he found in the N26 applications for iOS and Android, but he inform the company’s employees about them.
According to N26, the security holes are
theoretical” in nature, but still how to calculate the indicator and why it is important for business preventive measures. Considering that the banking sector is one of the priority targets for hacker attacks, the German bank’s desire to protect itself even from “theoretical” vulnerabilities can only be welcom. This is agre ao lists upon by 200,000 customers from 17 European countries who share information with N26 about their expenses in clothing stores or restaurants, for example.