Telefonica and Fidor Bank to launch mobile bank in Germany

Mobile network operator Telefonica is to launch a mobile banking service in Germany this summer using technology supplied by Fidor Bank. Customers who sign up for an account will receive an O2 MasterCard for cash withdrawals and shopping, and a mobile app that will allow P2P transfers. “This cooperation is the first disruptive alliance in Germany between a telecommunications company and an innovative digital bank,” says Fidor Bank CEO Matthias Kröner.