How's it going in the U.S.?

In January, we had 250,000 clients after just five months. The market potential is enormous. We have more than 5 million clients worldwide, and we want to reach at least that is each of our core markets – so at least 5 to 10 million clients in Germany and France.

«I don't see N26 buying a Swiss bank for the license»

The success we've had so far notwithstanding, we're at the beginning of our mission to fundamentally alter global banking. We have the potential to reach more than 100 million people with mobile banking in our core markets alone.

Your biggest rival, Revolut, is considering growing by acquisition. Would you as well?

Acquisitions aren't on the table right now. We'll think more about it in the long run. 

Even in banking? The Swiss market is rife with fears that a global digital bank could buy a weak private bank in order to win assets, clients, but mainly a banking license in Switzerland. 

For the moment, I can't see N26 buying a traditional bank in order to win a Swiss banking license. We've proven that we can clinch our own banking license and be accountable for it, so we don't need an acquisition for that. 

«The Swiss market is attractive for us long-term»

It may be a sensible route for an international technology firm looking to enter a market quickly, but a banking license isn't impossible for a digital company like ours with experience in banking. Depending on the market, applying for a fintech license like we're now doing in Brazil can make sense. We view this as the best instrument to enter that particular market.

Is that an option for Switzerland too?

The Swiss market is very attractive and interesting for us in the long run. We'll keep localizing our products to tap new client segments. Europe is coming more closely together and that makes European banks more accessible to the Swiss market.

Georg Hauer is the general manager of Switzerland, Germany and Austria at N26. He joined the digital bank, now worth 3.5 billion euros ($3.8 billion), last March. Previously, he was the general manager of Uber in Vienna, and spent five years as a consultant for Boston Consulting Group.