Lunar Way Is Breaking New Ground In Full-service Mobile Banking
It is well documented that millennials are a huge driving force behind the development of fintech services globally. With a future generation of users growing up as digital natives, with expectations vastly different to previous generations, fintech will continue to go from strength to strength as more millennials really enter the market.
The ‘tech’ approach
Fintech companies have been popping up with specialised entry level offerings, trying to tap into the market at the ground level. Many of them only cater to certain aspects of the financial market, but as the offerings become more advanced we are seeing the emergence of full-service banking solutions. We think we got the perfect recipe for success, and here’s why.
Mobile banking designed by the target market
Traditional banks have struggled to service a market segment whose needs appear so far removed from what their long-standing business model usually caters for. Most millennials are familiar with much more transparent business models. Free elements are almost expected, and value propositions need to be stronger than ever.
Safe financial hands
Another huge strength of Lunar Way is the regulatory experience and know-how offered by their partner banks. Lunar Way partners with local high street banks in every country it operates, so your account is located in the country you open it.
Ken Villum Klausen — CEO Lunar Way:
“We believe it would be shortsighted to overlook the strengths of the incumbent banks. They are aware of regulatory requirements, new directives, and the overall operational demands placed on a financial institution.
We want to build a totally new way of banking. It combines the strengths of mainstream banking with our technological expertise and high level of relevance to the millennial generation. Put simply, the incumbent banks excel at regulation. We excel at providing the best mobile user experience. It’s a perfect match.”
This partnership plays to everyone’s strengths. It allows Lunar Way to concentrate on creating the best mobile banking solution, while also providing the security and know-how that can only be gained by decades of regulatory experience.