Bunq Unveils AI Translations, Rewards, and New Features!

Bunq Unveils AI Translations, Rewards, and New Features!

Hey Digital Banking Fanatic!

Bunq, the Dutch challenger bank with 14.5m users across Europe, has announced multiple significant updates to its platform.

The bank claims to be the first in the world to launch real-time, speech-to-speech translations within its banking app, enabling its AI assistant Finn to process visual information in nearly 30 languages and handle instant translations of customer conversations.

The challenger bank has also unveiled bunq Points, a new rewards program where paid subscription users earn one point per euro spent, while Elite members earn double. Users can collect additional points through activities like inviting friends or making bunq their primary bank, with rewards including discounts on travel and entertainment from partners like Tiqets.

Additionally, bunq has expanded its Stocks feature beyond the Netherlands and France to Spain, Ireland, Belgium, and Italy. Users can now invest in over 200 new stocks and ETFs with fractional shares starting at €10, schedule trades, and set up automatic investments through spare change roundups or recurring investments.

For business users, bunq introduced new benefits including up to 1% cashback on all credit card transactions and exclusive discounts on business software, travel, shipping, and freelance contracting through its Mastercard partnership. Pro and Elite plan holders can now provide dedicated credit cards to employees for company expenses.

If you’re interested in reading a bit about what’s been happening in Digital Banking, keep scrolling!

Cheers,

Marcel


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INSIGHTS

Revolut experienced remarkable growth in 2024. In Europe, it ranked as number one downloaded financial app in 20 countries and Top 3 in 26 out of 31. Notable achievements include Denmark, France, and Southern Europe, while Germany’s IBAN launch drives success in Western markets.

Revolut Country Rank

DIGITAL BANKING NEWS

🇳🇱 Bunq enhances AI & launches Loyalty Program. Bunq upgraded its AI assistant, Finn, to simplify banking and break language barriers. It also introduced bunq Points, rewarding users for spending—1 point per euro for subscribers, double for Elite members, catering to digital nomads and everyday users.

🇸🇦 D360 Bank launches operations in Saudi Arabia. D360 aims to enhance digital banking services, supported by expertise from key financial and investment stakeholders in Saudi Arabia. This marks a significant step in advancing the Kingdom's financial technology landscape.

🇬🇧 Allica Bank passes £3bn in loan balances. The bank highlighted “substantial growth” in recent months. The company’s CEO emphasized the bank’s commitment to serving SMEs, which play a crucial role in the UK economy, contributing a third of employment and GDP.

🇸🇪 Northmill appoints Emil Folkesson as CFO. Folkesson brings over 15 years of experience to Northmill, and has previously led “strategic initiatives” in areas such as “capital acquisition, implementation of growth strategies, and financial restructuring,” the company says.

🇬🇧 Monzo partnered with SignLive to offer customer support via British Sign Language (BSL). This means BSL users can now chat with Monzo’s customer support team through a fully-accredited interpreter, in real time, using video relay services. Continue reading

🇦🇺 ANZ Bank eyes buyback of payments unit. Merchant acquiring, a low-margin, tech-intensive sector, was positioned as a strategic partnership to support ANZ's small and institutional clients. This potential buyback signals a shift in ANZ’s approach to the payments market.

🇳🇱 Mambu appoints Ivneet Kaur as Chief Product & Technology Officer. Ivneet will strengthen Mambu’s product portfolio and drive its cloud-native platform strategy. As part of the Executive Leadership Team, she will focus on innovation, customer satisfaction, and responsible technology practices.

🇷🇺 Russia shares CBDC business model as banks push back. Digital ruble transactions will be free until 2025, with the first banks and merchants going live on July 1. While the central bank aims to generate fees long-term, the Association of Russian Banks (ABR) expressed concerns over implementation costs and potential deposit outflows.


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Future of Banking


Ruuchi Rathorr

🚀 🌟 Innovative Payments Leader | 🎤 TEDx Speaker | Women Empowerment Activist | Exploring Spirituality | Finding Purpose in Life| Empowering People 🌟

2mo

Marcel van Oost, fascinating to see Monzo's commitment to inclusivity with BSL support, while Revolut continues its remarkable expansion. Digital banking's future looks promising! 🌟 #FinTechInnovation

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Anirudh Pratap Singh 🏆

Co-founder | Pragmatist | Result Oriented | Director of Technical Operations @ Payomatix | Contact for anything related to payments | anirudh.pratap@payomatix.com

2mo

Exciting to see digital banking evolving. The Monzo BSL initiative particularly shows how banking becomes more inclusive. #DigitalInclusion

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