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Germany’s financial regulator has lifted a cap on the number of new clients that N26 Bank AG can take on after the fintech company improved its anti-money laundering controls. BaFin, the country’s financial watchdog, will remove the cap entirely from June 1, 2024.
N26, which began as a challenger bank offering account and card management through a mobile app, has attracted millions of customers with its user-friendly approach. The company’s expansion into additional markets and product diversification came alongside decent funding…