Currently the new lender is offering savings products, payments services, digital cash and asset management services, virtual branches where users can chat with staff members via webcam, withdrawal cash, and also a financial dashboard aimed at financial planning as well as alerts for mobile banking.

The bank is also using social features such as writing a regular blog, ‘Knab Live’, making use of social media platforms such as Twitter and Facebook, and offering online seminars. Knab also plans to be socially conscious and provide support to local charities.

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Founder and director of Knab,René Frijters, said, “Knab is there for the customer and not vice versa. Knab makes banking easier and more personalised. Our customers get our alerts that are specific to their circumstances.”
 
According to Frijters, Knab had “the unique chance to begin a dialogue with customers from scratch and set up the new bank” and added that the banking industry will be “completely different in five years”.

“Knab will continuously engage in discussions with its customers to strengthen the service, including through the unique platform Knab Live on the website,” Frijters further added.