Digital bank N26 closes UK business following Brexit

clock • 1 min read

N26, a Berlin-based digital, or neo bank is closing its UK arm following Britain's withdrawal from the EU at the end of last month. The fintech company-turned-challenger bank said Brexit meant its model of cross-border transfers across different currencies was incompatible with their European banking licence. N26 said the "timing and framework" of the UK Withdrawal Agreement made it impossible to continue.In a statement on its website, the company said: "With the UK having left the EU at the end of January, we will in due course no longer be able to operate in the UK with our European...

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Author spotlight

Christopher Copper-Ind

Christopher Copper-Ind is editor-in-chief of International Investment. Before this, he was editorial director of The Business Year, from 2014 to 2017.