This is an online bank located in Berlin, Germany. Famous for being an account with principles, it is the first mobile banking service in Europe that is interest-free. Fintech is an Islamic bank where users can save money as well as carry out other banking activities with convenience. The bank offers more transparency and charges minimal commission for extra services than other banks. With this Islamic neobank, customers have no worries about incredulous commission rates, unexplained charges, etc. Founded in 2018, Insha GmbH offers digital banking services to thousands of people online without a physical presence.
If you are interested in opening an account with principles and transparency or thinking of banking with any reliable challenger bank, here is a guide on Insha neobank, its features, and other information.
What Neobanks are
A neobank is a challenger bank that offers digital banking services. As of 2021, over a hundred challenger banks were established in Europe, the US, and Asia. A neobank is like a startup, it requires funding and a banking license. Examples of neobanks are Knab, Instabank, Imagin, Kard, etc. They are well-known for their transparency and easy-to-access banking services open to millions of users worldwide. Neobanks are termed the leading change in the global banking industry.
About insha Neobank
Set up in 2018, the bank provides users with a digital account with moral values. Users can set and achieve savings goals on the app. It also allows complete control of expenditures made. This fintech operates on the principles of sustainable banking. It ensures its customers that their money is not reinvested in companies that deal with arms manufacturing or given out as loans with interest. Although the bank was inspired by the normal financial products offered within Islamic finance, it includes more ethical products for a larger base of consumers who are concerned with how and what their money is used for. Using its investment account, users may invest in ethical business ideas offered by the bank, sharing both profits and losses.
Using the insha Neobank
Looking to expand further in Europe, it continues to develop more ethical banking products. The app is presently available in Germany and other countries. It is a spin-off of the traditional bank Albaraka. With the bank, users can enjoy better accessibility via mobile, tablet, and desktop, lots of time, transparency, simplicity, aesthetics, ethics, et cetera
