Analysis

June 10, 2020

Is this the new face of Generation Z banking?

Forget fancy apps and metal cards. A new breed of "messenger banks" are breaking onto the scene.


Isabel Woodford

7 min read

We've seen challenger banks for teens; we've seen pocket money apps for tweens; and now, Europe's youngsters are getting a "messenger bank" — an encrypted chatbot that manages users' finances and sends money via Facebook, WhatsApp, Telegram and Viber.

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Sifted reporter Isabel Woodford gives Zelf a go. The app's "cool" tone of voice could hold appeal among the younger audience — but will it gain their trust?
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The bank communicates with users solely within the chatbot and can send money to other Zelfers using their linked phone number.
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Future plans: a mock-up of Zelf's virtual card and loan options.
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