Digital bank bunq goes international with open API
Digital-only banking start-up, bunq, has expanded beyond its native Dutch market to Austria and Germany with the launch of its open API.
“Developers can now integrate bunq’s real-time payment system into their own apps,” the banks states.
It hopes that “over time bunq users will be able to choose from countless clever apps to enrich their lives”.
“Think of apps that track spending habits, apps that send notifications for the best time to get a beer during a crowded concert or apps that ease book-keeping by automatically categorising transactions,” it suggests.
Bunq was set up in 2013 and opened for business in November 2015 – “using mobile technology to fit an entire bank in one’s pocket”.
It holds a full banking licence in the Netherlands.
The bank has its in-house developed core banking software and relies on a limited number of third party suppliers for its technology. Among these is Veridium, which provides the bank with biometrics software.
Bunq aims to be the Whatsapp of the banking world – quick to set up, easy to use, real-time and fully mobile. The bank also emphasises that “it is green doesn’t do risky investments and never sells personal information”.