Tomorrow Bank is a recent mobile-first financial services app focused on sustainability and ethical investment practices. The financial powerhouse app is based in Hamburg, Germany and since its launch in 2018, it has provided German bank accounts and services so that customers can contribute to projects that fight climate change, offset their CO2 emissions and much more.
The shift to hyper-personalized banking in the digital transformation era
Digital transformation has certainly drawn a healthy level of buzz of late, but it is often confused with simply putting an online banking spin on things. Today it’s a post-pandemic world, where the next generation is rapidly remaking the world, and making seismic changes in how consumers behave. Therefore, banks have bypassed ATMs and branches, and financial applications have become the front door. Customers are now very much attracted in sync towards a top-notch customer experience as well as strength in wealth management advisory. It goes beyond great experiences to build high-quality human capital and the best and most applicable technology to enable the gathering of enough insights to maximize critical customer moments.
Hyper-personalized banking service is not a winner on a high level, customers want technology stacks that are continuously improving security, and providing the bare minimum from anywhere at all times. Data and behavioural analytics are essential in making the customer acquisition process better and better to the continuous improvement and augmentation of the same. As part of this, identifying the right frictions (friction points) in the customer journey where the customer journey stalls and errors occur allows for incremental but significant scope for improvement.
With this partnership, Solarisbank SE, tomorrow, Solarisbank SE can focus more of its energy on delivering an amazing mobile banking experience, without losing all of the perks of being a secure, fully licensed, based on a fully regulated and financial institution.
ank Accounts Available Tomorrow.
Tomorrow’s flexible plans: affordable, sustainable, and customer-centric banking
With 3 plans to choose from a very affordable “Now”, a premium banking experience at a price “Zero” tomorrow’s customers will get their pick. Monthly cost plans vary massively, including the amount of features available, applicable limits, fee-free allowances etc. This allows users to be flexible and never make someone feel like they have to pay for something that they do not want to use or use it dissatisfied, anyone can find a plan that fits them. And you can always switch between plans if you want to, to pick the cheapest one you can start with, and as you can you will grow into higher tier subscriptions when you want to.
Each plan provides a “bread and butter” set of core banking features (like card payments, SEPA transfers, ATM withdrawals and such). As well as a unique benefit: By spending with your Tomorrow card, you will protect 1m of rainforest for every euro spent, at no cost to you. On top of this, you get the following benefits with any plan: Apple Pay & Google Pay, automatic payment categorization & spending insights, customer support via email, live chat (based on 3 tests of ours, average wait time tends to be ~3 minutes during working hours), phone, VISA card, currency withdrawals at no extra cost and overdraft at 10,99% p.a. You also get a neat “green” feature: instead of rounding up your transaction to the nearest Euro and donating the spare change to climate projects.
Tomorrow fees
The entry-level subscription from the Sustainability First Challenger Bank is now. The Now subscription is selling you 1 current and a subaccount for savings on the banking side of things. You will also receive digital banking features like payment insights, mobile pay and instant notifications. You do get your money’s worth with “Tomorrow Now,” unless of course, the reviewer’s experience is a deal breaker for you. The first is that you can only have one sub-account which means that you can’t do many things with your finances. Not having the ability to create specific accounts for rent and utilities, savings, daily expenses and such, feels restrictive compared to a bank like Dutch Bunq Bank, with 25 standalone subaccounts each with its own IBAN. Secondly, each ATM withdrawal incurs a €3,00 fee. If you’re using cash a lot this will get pretty pricey fast. How much of a deterrent these will be depends entirely on your individual banking needs but, thankfully, higher-tier subscriptions do remedy both of these. Of course, the app will always remind you that every transaction with your Tomorrow card counts towards rainforest protection and supports an even greater variety of sustainable projects worldwide. It is a ‘smart’ everyday bank account that is flexible. This subscription is a solid and hassle-free bank account that would cover all the day-to-day banking needs of an average person and is priced quite reasonably (about what competitors like Revolut charge). In addition to that, there are a few weird great features that make this financial tech product different from the rest of the pack.
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