N26's Regulatory Update BaFin Lifts Restrictions on New Sign Ups

Описание: In 2021, the German financial regulator BaFin imposed restrictions on the Neobank N26 due to insufficient anti-money laundering measures. After spending over €100 million to enhance compliance, N26 has significantly improved its control systems. Consequently, BaFin has lifted the limits, allowing N26 to freely attract new customers. In 2023, N26's losses were reduced to €100 million, and the bank aims to achieve monthly profitability in the second half of 2024.