As the
demand for innovative and customer-centric banking solutions grow,
N26 has taken a decisive step by appointing Mayur Kamat as its new Chief
Product Officer (CPO).
Kamat
brings extensive experience from global tech giants, such as Agoda, Google,
Microsoft, and, most recently, Binance, where he led product and design teams in
the emerging regulated space of cryptocurrencies.
In his new
role as CPO, Kamat will oversee the bank’s product and user experience teams
across its office and technology hubs in Berlin, Barcelona, and Vienna. He will
deliver N26’s global product strategy, which encompasses
spending, saving, investment, credit, and shared banking features.
“N26
has built a bank that users love,” said Kamat. “With great
technological innovation, customer centricity, and brilliant user experiences,
N26 is enhancing our customer’s relationship with money and empowering them on
their wealth-creation journey.”
Kamat was associated with Binance as the SVP and Head of Product for the past two years. However, he left the company in January 2024 and remained unemployed for the last two months. Now, he will begin his journey with the German neobank.
Kamat is
set to begin his role in Q2 this year. He will be based out of N26’s Barcelona office and report directly to the CEO, Valentin Stalf. According to Stalf, Mayur
will bring “a new dimension to N26’s team.”
“With
Mayur, we bring on board a global product leader with international experience
and some of the world’s most recognized names in technology,” Stalf added.
For N26, this represents another significant C-level transition, following the hiring of three women (Carine van der Heijden, Kertu-Liina Lehismae, and Nicole Heider) less than a year ago to the positions of VP of Brand Marketing, Director of Digital Marketing, and Director of Labor Relations.
New Products in N26 Offering
In 2024,
the German neobank N26 expanded beyond its core banking services to offer its
customers instant savings accounts in 13 European countries, including Austria,
Belgium, Estonia, Finland, and Greece. N26 has introduced a tiered interest
rate structure for these accounts. N26 Metal users will enjoy an annual
interest rate of 4%, while N26 Smart and You account holders and free N26 Standard account users will receive a yearly interest of 2.8% on their deposits.
Earlier in
January, the company broadened its offerings to include stock and ETF
features. Initially launched in Austria, this trading product will impose a
fixed fee of 0.90 EUR per trade without any hidden charges. N26 asserted that
its pricing structure is exceptionally competitive relative to other brokerage
services. An integral part of this new trading offer is the ability for
fractional share investing, enabling customers to buy shares in portions
starting from 1 EUR.
Following
the sale of Allianz’s 5% stake in the German neobank at a substantial discount
in 2023, N26 is exploring new avenues for brand and value creation.
Consequently, its valuation dropped to $3 billion, from the $9 billion
mark attained in 2021.
As the
demand for innovative and customer-centric banking solutions grow,
N26 has taken a decisive step by appointing Mayur Kamat as its new Chief
Product Officer (CPO).
Kamat
brings extensive experience from global tech giants, such as Agoda, Google,
Microsoft, and, most recently, Binance, where he led product and design teams in
the emerging regulated space of cryptocurrencies.
In his new
role as CPO, Kamat will oversee the bank’s product and user experience teams
across its office and technology hubs in Berlin, Barcelona, and Vienna. He will
deliver N26’s global product strategy, which encompasses
spending, saving, investment, credit, and shared banking features.
“N26
has built a bank that users love,” said Kamat. “With great
technological innovation, customer centricity, and brilliant user experiences,
N26 is enhancing our customer’s relationship with money and empowering them on
their wealth-creation journey.”
Kamat was associated with Binance as the SVP and Head of Product for the past two years. However, he left the company in January 2024 and remained unemployed for the last two months. Now, he will begin his journey with the German neobank.
Kamat is
set to begin his role in Q2 this year. He will be based out of N26’s Barcelona office and report directly to the CEO, Valentin Stalf. According to Stalf, Mayur
will bring “a new dimension to N26’s team.”
“With
Mayur, we bring on board a global product leader with international experience
and some of the world’s most recognized names in technology,” Stalf added.
For N26, this represents another significant C-level transition, following the hiring of three women (Carine van der Heijden, Kertu-Liina Lehismae, and Nicole Heider) less than a year ago to the positions of VP of Brand Marketing, Director of Digital Marketing, and Director of Labor Relations.
New Products in N26 Offering
In 2024,
the German neobank N26 expanded beyond its core banking services to offer its
customers instant savings accounts in 13 European countries, including Austria,
Belgium, Estonia, Finland, and Greece. N26 has introduced a tiered interest
rate structure for these accounts. N26 Metal users will enjoy an annual
interest rate of 4%, while N26 Smart and You account holders and free N26 Standard account users will receive a yearly interest of 2.8% on their deposits.
Earlier in
January, the company broadened its offerings to include stock and ETF
features. Initially launched in Austria, this trading product will impose a
fixed fee of 0.90 EUR per trade without any hidden charges. N26 asserted that
its pricing structure is exceptionally competitive relative to other brokerage
services. An integral part of this new trading offer is the ability for
fractional share investing, enabling customers to buy shares in portions
starting from 1 EUR.
Following
the sale of Allianz’s 5% stake in the German neobank at a substantial discount
in 2023, N26 is exploring new avenues for brand and value creation.
Consequently, its valuation dropped to $3 billion, from the $9 billion
mark attained in 2021.
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- Source: https://www.financemagnates.com//executives/n26-taps-binance-tech-veteran-as-new-chief-product-officer/
