Belgium based fintech services startup BankUP has announced plans to launch its product in Q4 of this year. BankUP will provide services such as lending, accounting and credit cards to consumers in Belgium, Germany, Spain and Poland.
Built “from the ground up”, BankUP promises a “purely digital experience” and eight-minute onboarding using “integrated online KYC and KYB process with absolutely no paperwork involved”. BankUP does not hold a banking licence and will partner with an established bank instead. It will also white-label other banks’ and fintech companies’ products and services via its platform. In addition, it offers its own development for banks and other entities to use on a white-label basis. BankUP aims to be “an open ecosystem of fintech services”, addressing the needs of a younger generation of entrepreneurs – “millennipreneurs” (oh dear). It will offer services such as current accounts (IBAN number), credit/debit cards, smart analytics, lending, accounting, FX, trade data etc – all via one digital front-end. “BankUp’s mission is to reshape the SME banking landscape and financial services across Europe,” the company states.