N26, Europe's leading digital bank, welcomes the latest decision from the Federal Financial Supervisory Authority (BaFin), which will see the complete lift of the growth restriction for N26 from June 1, 2024. To date, the company has been able to take on up to 60,000 new customers per month. This restriction ceases from the month of June.The news follows a period of close exchange between N26 and the regulator to combat financial crime and money laundering, which will continue even after the growth restriction ends. In addition, the exchange with the special representative will continue until the end of 2024.

Over the past two years, N26 has invested more than 100 million Euros in compliance and its infrastructure and teams to effectively combat money laundering and financial crime, as it prepared to onboard a higher number of new customers.The systems that will enable this include, among other things, sophisticated intelligence-based models that analyze the fraud potential of individual customers before they even open an account with N26. They additionally include self-learning transaction monitoring systems that protect the company's customers by detecting suspicious activity in real time.N26 is seeing growing customer demand for its mobile banking app and the new products it launched in the first half of 2024. Thanks to Instant Savings accounts with up to 4% interest on deposits, a competitive Stocks and ETFs trading offering, and Joint Accounts, customers across Europe can now manage all aspects of their financial lives directly within the N26 app.