Neobank Rebellion becomes first fintech to offer Spanish IBANs with banking licence

via FinTech Futures

Spanish neobank Rebellion has become the first challenger in the country to gain a banking licence and offer International Bank Account Numbers (IBANs), reports La Vanguardia.

The one-year-old fintech sees providing IBANs as integral to serving its 16-25 customer base, “because with this measure they will be able to direct their payrolls, send and receive transfers more easily […] and will soon be able to direct payments to [their] account,” says its CEO Sergio Cerro.

The focus on allowing users to receive their salary through the account comes amidts a wider industry measurement trend, where challengers are being judged on their ability to entice users to direct their salaries into their new accounts.

Most of Rebellion’s native customers are students, meaning they can now use the IBAN linked to their Rebellion account to enter scholarships, as well as receiving monthly payments from the bank of mum and dad because one IBAN can be paid to another IBAN.

The challenger also integrates with Google and Apple Pay, and, according to La Vanguardia, the fintech aims to be the neobank which “best speaks the language of Generation Z”. It is planning to expand into more countries soon.