11 Onze Launches Universal Bank Account and PSD2-compliant Digital Wallet

The Barcelona-based community fintech11Onze is ready to launch El Canut, the next-generation asset holder for European clients, on October 1st.

With the launch of a universal bank account and PSD2-compliant digital wallet by 11Onze, El Canut rocks the fintech and traditional banking sector in the region, which is still working to close its regional branches after Covid. It also provides a convenient way to do banking without traveling miles and has a dedicated agent for support.

El Canut, the next-generation online banking system, gives customers the option of consolidating all their bank accounts in one place, including France, Germany, the United Kingdom and Spain. In addition, El Canut allows customers to manage all payments, transfers, savings and loans from one app or login (one-stop shop bank account).

Super APP gives 11Onze customers a global overview of their financial position, positions and easy analysis of their expenses and financial needs.

Chairman James Sene commented on the proposed launch, saying: It’s more than a bank. Our purpose is to provide a wallet for the wallet, which is the bank of the bank. El Canut is a one-stop shop for all bank accounts and financial services. I would call it the next generation of asset holders. “

“El Canut-means wallet in Catalan. In the Middle Ages, farmers used it to carry heavy coins. It was your El Canut that you owned all your assets. That’s what we do today. What we offer our customers-a place to hold all our assets and use them on the go. It’s more than a bank or payment system. I think it’s more like the steroid Alipay than the N26. . “

True to the spirit of the community, 11 Onze is the first to offer El Canut to core members of La Plaça. This is a private social network where 11Onze members engage, interact and discuss money issues with 11Onze agents.

11Onze’s Facebook-like PSN platform is Europe’s first fintech and provides access to 11Onze’s Learning Management System (LMS). This is a true treasure trove of hundreds of short target videos on finance, economy and welfare. It also provides an interface between customers and between customers and 11Onze agents.

11Onze offers products in partnership with leading innovative technology companies such as US-based Episode Six and UK-based Weavr. Episode 6 has helped develop a simple and reliable digital journey for 11 Onze customers that enables real-time payments and value transfers across any network, any system, or any currency around the world. Weavr, an embedded banking provider, is helping 11Onze integrate financial services into its products.

Talking about the partnership, Weavr co-founder and CEO Alex Mifsud
“11Onze is an exciting and creative use of embedded banking within a community-focused SuperAppli. Weavr’s mission is to bring embedded banking to market as quickly as possible with minimal pain. But magic can only happen when you meet an innovator like 11Onze. Impressed by the focus and willingness of the 11Onze team to realize the vision of an online community that spans social networking, commerce and financial services. I am honored to be able to participate in their journey. “

“We are pleased to partner with 11Onze to launch a digital payments proposal with an innovative edge that will bring payment technology to the Catalan people with a truly unique banking experience,” said the founder of Episode 6. And CEO John Mitchell said. “Our mission is to give our clients the freedom to design and deploy award-winning payment products. We are honored that 11 Onze has trusted us.”

11Onze aims to release new features every three weeks and promises to have a digital marketplace for its customers on the platform. In addition, members can use Peles (11Onze’s digital currency) to redeem services.

11 Onze Launches Universal Bank Account and PSD2-compliant Digital Wallet

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