#26reasons: Banking, this smooth

By smooth we mean effortless and easy-to-use. Here’s why that means so much to us and why we think it’s important for you too.

Smooth.

Let’s stop for a second and think about the first thoughts that pop into our heads when we use that word.

Frictionless. Easy. Without effort. Graceful.

Maybe you’re picturing a figure skater twirling effortlessly on ice performing a camel spin. Or John Travolta on the dance floor in Saturday Night Fever.

While these two examples require some sheer athletic talent and trained skill, there is nothing trained or exceptional about everyday experiences that just work. In fact, they are so natural that we come to expect them.

But why? If you look at this from a behavioral psychology perspective, we all have a natural desire for order and function. When things don’t reach an expected result, we feel unsatisfied. It’s like watching the hero fail in a movie when you expect them to defy all odds and triumph.

In a world where a lot of things can seem chaotic and inelegant, it’s reassuring to feel some form of control.

Doing banking your way

Ultimately, that’s what we’re here to do at N26. By putting an emphasis on simplicity and ease of use we believe that we can turn exasperating experiences (like brick-and-mortar banking) into ones of momentary delight or satisfying joy.

If we take a look at the traditional world of banking, most banks still operate in a physical world tied to the whims of the post and branch opening hours. Add the mountains of paperwork and you’re looking at a time sink.

It’s no wonder that in 2014 the Millennial Disruption Index — a 3-year survey carried out by Viacom — reported that a whopping 71 percent of millennials in the US would rather visit the dentist than go to the bank. Across Germany, Switzerland, and Austria, 79, 80, and 90 percent of millennials respectively prefer online banking to visiting a bank branch.

It isn’t too hard to see why: they’re a generation that grew up with technology. So they expect to be able to access things at the tap of a button. The same way they can access content they love on Spotify or Netflix.

How we’re making banking as smooth as possible

We put a lot of work into our app making it as functional and frictionless as possible.

Signing up for N26 couldn’t be easier: depending on your country you can either do it with a few pictures of your ID or through a video call. That way you don’t even need to leave home to open an account.

You also have unmatched control over your account. With in-app card settings, you can lock your Mastercard, set payment limits, or disable payments online or abroad. It’s a simple matter of toggling on and toggling off.

It’s not just enough to offer these easy features, though. They have to be done in a way that feels intuitive and meets your expectations.

Take our iOS app, for example.

If you have Face ID, you can use it to log into the N26 app. In essence, we’re adapting the way our product works to fit the way you work and live.

Spaces, which lets you create up to 10 sub-accounts under one login to organize your finances, also operates using intuitive, everyday-use principles. You can drag and drop money from one sub-account to another instantly, making it easier than ever to put money aside for your goals.

Even something as technically complicated as making a transfer should feel as simple as sending a text or email or even handing the person cash. Which is why we created MoneyBeam, our peer-to-peer payment service that lets you send other N26 customers money with just their phone number or email address.

Ultimately, it’s up to you how you use your money. It’s just up to us to help you to do that more quickly, and dare we say more smoothly.

We’ll be following this up with some more content about how people use their accounts to make seemingly complex financial situations that much smoother. So stay tuned.