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Instant KYC - almostBerlin, October 18, 2017

Jack LancasterProduct Owner

Dr. Lorenz JünglingCPO, former COO

Timo MeyerExpansion Lead

€5.2bn1.5k+500k+

New users per dayUser Base Transaction Volume

What is KYC?Identification and verification of users

Why do we do it?Regulatory requirementPrevent money launderingManage risk

Signup Completed

Email Confirmed

Product Selected

KYC Started

KYC Completed

Card Activated

Financially Active

KYC - the toughest part of the funnel

The old wayKYC

Traditional KYC

Traditional KYCNot user friendly

Traditional KYCNot user friendlyNot mobile

Traditional KYCNot user friendlyNot mobileNot scalable

The N26 wayKYC

KYC & Secure AccountAcquisition Sign-up

AppOnboarding

€ €

CardActivation

FirstTransactions

KYC - the N26 wayGatekeeper to the app

1515

KYC - the N26 way

1616

KYC - the N26 way

Real TimeVerifies users in ~8 minutes

1717

KYC - the N26 way

Available in five languagesLocalised onboarding for key markets

Real TimeVerifies users in ~8 minutes

1818

KYC - the N26 way

Mobile experienceOn brand with being The Mobile Bank

Real TimeVerifies users in ~8 minutes

Available in five languagesLocalised onboarding for key markets

1919

KYC - the N26 way

Real TimeVerifies users in ~8 minutes

Available in five languagesLocalised onboarding for key markets

Mobile experienceOn brand with being The Mobile Bank

Comparatively high conversion76% users complete KYC

Operating at scaleKYC

2121

Operating at scaleLarge increase in initiated calls over the last 12 months

8,000

12,000

16,000

20,000

24,000

28,000

32,000

09/16 10/16 11/16 12/16 01/17 02/17 03/17 04/17 05/17 06/17 07/17 08/17 09/17

2222

8,000

12,000

16,000

20,000

24,000

28,000

32,000

09/16 10/16 11/16 12/16 01/17 02/17 03/17 04/17 05/17 06/17 07/17 08/17 09/17

Actions to resolve thisLarge increase in initiated calls over the last 12 months

OptimiseProduct

Handle Peaks

Insource Agents

2323

Insource Agents

Own the touchpoint

Benchmark services

Ensure stable SLAs

Individualise experience

Insourcing of KYC % of finished inhouse identifications

2525

Understand organic peaks

Prepare for external events

Flexible agents

Handle Peaks

08:00

Operations in KYCImprove handling of peaks

10:00 12:00 14:00 16:00 18:00 20:00 22:00

2727

Understand organic peaks

Prepare for external events

Flexible agents

Handle Peaks

2828

Prepare documents

Determine eligibility through document

Test connection

OptimiseProduct

2929

Nationality

Optimising for operationsPrepare documents

3030

Optimising for operationsPrepare documents

3131

Prepare documents

Determine eligibility through document

Test connection

OptimiseProduct

3232

Nationality +

Optimising for operationsDetermine eligibility through document

3333

Prepare documents

Determine eligibility through document

Test connection

OptimiseProduct

3434

Optimising for operationsTest connection

35

Q&ABerlin, October 18, 2017