App-only bank N26 has become the second billion-dollar European banking startup, alongside Revolute, to face questions over compliance.
“N26, as with all licensed banks, is subject to regular internal and external independent audits, including those by regulatory bodies such as BaFin, the German Financial Authority,” the spokesperson said. “Any findings are promptly reviewed, implemented, and monitored in coordination with the BaFin. We strive to meet all requirements consistently and take any required measures as quickly as possible.”