Fintech start-ups Altpay and Finz Money launch in UK
Two new fintechs — Altpay and Finz Money — have launched in the UK.
Both fintechs are taking on customers
Altpay is a B2C neobank designed to “take away the hurdles of traditional banking” for customers and entrepreneurs.
Finz Money is a machine intelligence-powered and hyper-personalised payment reward card and app that allows users to earn cashback, personalised rewards and other benefits.
Finz allows users to set spending and saving targets, earn cashback when using the Finz card and earn members-only benefits.
The card supports multi-currency payments and is attached to a bank account for monthly bills.
Finz members will earn rewards including deals on luxury brands, entry into raffles and prize draws and access to a digital concierge.
Neobank Altpay wants to provide an alternative to the complicated account opening processes, excessive paperwork and large fees of traditional banking through an easy-to-use interface, online account opening and highly competitive prices.
Customers can make local and international transfers via SEPA and international wire to send and receive funds in over 25 currencies.
The neobank’s online ID verification means customers can open an account within 24 hours and once set up, customers can employ two-factor authentication for online banking access and outbound payments.
Additionally, Altpay intends to launch a card programme in early 2022. Mastercard-powered cards will be available for private individuals and companies from the European Economic Area.
