Telefonica Germany is to launch a mobile banking service using white-label technology supplied by Fidor Bank. Slated for launch in Germany in late summer, 02 Banking will use Fidor's cloud-based infrastructure for its back-end technology. It will onboard customers using a video link for documentation checks via smartphone and permit P2P account transfers from the mobile-only account using the recipient's phone number. The account comes with an 02 MasterCard for cash withdrawals and shopping, and a financial planning tool to provide an overview of spending. Under the partnership, Fidor Bank provides 02 with a banking licence that is valid throughout Europe, along with individual customer, card and transaction services.

https://www.finextra.com/newsarticle/28882/telefonica-to-launch-mobile-bank-with-technology-from-fidor?utm_medium=twitter&utm_source=dlvr.it