Neobank provides banking services to foreign nationals residing in Europe who can provide a passport.
Íkualo is an electronic money institution (EMI) that provides refugees and immigrants residing in Europe with the opportunity to gain access to financial services by just presenting their passport. Customers will be required to successfully complete an in-app identity verification process in order to access financial services such as current accounts, microloans, mortgages, and foreign money transfers. This process will be launched in November 2023. Aiming to open 50,000 bank accounts, enable 35,000 money transfers, and manage 45,000 payments for critical services within its first year of operation, Íkualo has set its sights on accomplishing these goals. With its headquarters in Barcelona, Íkualo intends to launch its services in France, Portugal, Italy, Germany, the Netherlands, and the United Kingdom by the middle of the year 2024.
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