Centralway Numbrs

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Centralway Numbrs is a Swiss technology company based in Zurich, Switzerland. The company is best known for its mobile banking app Centralway Numbrs. The application allows users to conduct transactions, track spending, pay bills, and predict future income and expenses. It supports all major banks, and is compatible with iOS and Android. The company was founded in 2011 by entrepreneur Martin Saidler. According to Finanz and Wirtschaft, Centralway Numbrs is currently one of the highest valued fintechs in Europe. In 2017 the company was named "The best international active FinTech in Germany".

Video Centralway Numbrs

Product

The company's only product consists of a mobile banking app that enables users to manage any number of bank accounts and handle banking transactions. Launched in 2014, the app also allows users to classify expenditure items and prepare financial plans.

Since early 2017, users are able to compare the terms of various banking-related offers and can apply for an account, a loan or a credit card directly via the app. Consequently, banks can make their products available on the platform via existing Application programming interfaces (APIs). Centralway Numbrs generates revenues by brokering financial products of banking partners via its app. The application has been downloaded over 1.5m times, and is currently one of Germany's most popular mobile banking apps.

Centralway Numbrs cooperates with the Deutsche Bank Group (Postbank and Norisbank), and has raised $125 millions from investors including Sir Ronald Cohen, Josef Ackermann, Alan Howard (hedge fund manager), and the Investment Corporation of Dubai. The company is headquartered in Zurich (Switzerland) and has 150 employees. The company's CEO is Oyvind Oanes, and the company's founder (and Executive chairman) is Martin Saidler.

Maps Centralway Numbrs

Criticism

In 2015 German consumer magazine Finanztest gave the app a score of "unsatisfactory" on account that the company was allegedly able to record and transmit consumer data. The criticism was later refuted without any proof in an interview with Tech magazine Gründerszene.