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June 29, 2020

Products and Services

A bold leap towards the future

bunq’s ambition has always been to help users manage their money in an easy and fun way, so they are empowered to achieve all their goals.

As bunq has grown and evolved over the last 5 years, it has been fortunate to have a dedicated base of users that enthusiastically contribute to creating a better alternative together.

In that time the world has also profoundly changed. It is our firm belief that today, no matter whether people are paying for groceries, investing in their future or saving for a rainy day, they want these decisions to contribute to making the world a better place. For the benefit of all. It is undeniable that banks have a central role to play in putting that money to work and deliver a positive impact. We are building the bank of The Free for people who want to do good with their money.

This is the foundation of the new bunq app. It is our bold leap towards the future and we’re very excited about the possibilities ahead.

For this vision to be realized we must make bunq accessible to all

As the digital banking market matures and presents many competitive alternatives, we are presented with various opportunities and challenges. The previous version taught us that the app, although incredibly powerful once understood and set up, was too complex for new users.

To fix this we radically revised the onboarding process, reducing all complexity. Now a user simply downloads the app, selects the subscription they want and is up and running immediately.

The early result of this change is very encouraging. We’ve seen record numbers of new users - this has more than doubled. This is an impressive increase and provides the confidence that the new app (even at this early stage) empowers more people than ever to have a positive impact on the world, simply by choosing bunq.

Beyond this radical improvement there are three more things we'll focus on in the future:

1. Delivering innovative features that make your life easy

This is the Me tab, where all the features for which bunq is already well known will continue to be developed. The goal here is simple: to create an experience that makes managing your finances as easy as possible, saving you time and money. All the while giving you a realtime overview of the impact your choices have on the planet.

2. bunq’s social banking vision

The Us tab is where we show the positive impact of our community as a whole. This includes the total number of trees planted, the causes they care about and their investment choices. In addition, the feed will deliver a steady stream of useful and engaging content for our users, including feature updates, financing or travel tips.

3. A truly personalized bunq experience for our users

The Profile tab is where everyone can tailor their bunq experience to their wants and needs and where we help our users to achieve their goals and ultimately their financial freedom. So far, we have barely scratched the surface of what is possible.

Behind the scenes, there are also a number of other related strategic initiatives that we are working on. The bunq app is engineered to unlock these new possibilities for our users, and you’ll hear more about these in the coming months.

The future of banking

bunq occupies a unique position in the world. Our drive to constantly improve things and push the boundaries of what’s deemed possible is what sets us apart. Ever since our inception we’ve been known to shake things up. We’re purposefully not trying to be neatly categorized in a box. Quite the contrary: we’re just being us.

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