Netherlands’ neobank Bunq acquires group expenses app TriCount

Bunq, a neobank based in the Netherlands, has recently acquired Belgian FinTech TriCount, becoming the second-largest neobank in Europe after Revolut.

According to credible sources, the bank is planning to update its app to add new features. It is also looking to introduce features like Bunq Jackpot, which offers German, Dutch and French users three chances to win €10,000 every month by using the app.

With the help of Bunq cards, users will be able to improve their winning chances by keeping and adding money to their Bunq accounts and by inviting friends.

According to the release, other in-app changes would also be seen in line with this move, like upgrading Bunq’s community tabs and home.

The Home tab will allow the user's group accounts, cards and other things to tailor the app to meet their needs. Meanwhile, the community tab will offer new ways to interact with Bunq and other users, with a responding and sharing option for posts like a social media app.

Furthermore, users will be allowed to enhance the app experience for others via sharing experiences.

Incidentally, the bank has also spoken about boosting its bid on mergers and acquisitions. The acquisition of TriCount will allow Bunq to add easy access to several features to help manage money more easily.

Ali Niknam, CEO and founder of Bunq, said that the commitment of TriCount to transparency, simplicity and community perfectly aligns with their values.

Notably, Bunq is among the newer banks that are trying to utilize financial tech for curbing costs and helping out the customers in new ways.

Mr. Nikam pointed out that bankers are more process-oriented and internally oriented. Bunq tries to recognize what the users need and surprise them by applying new technologies.

Source Credit - https://www.pymnts.com/acquisitions/2022/neobank-bunq-acquires-belgian-fintech-tricount-adding-5-4m-users/