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11Onze Launches First-Ever Facebook Like Private Social Network

11Onze Launches First-Ever Facebook Like Private Social Network | FinTech Finance

Neo bank 11Onze launched its private social network (PSN) encouraging customers to register, connect and engage on the social platform – a private social network about money.

The PSN platform, a first for any neo bank in Europe, offers access to 11Onze’s Learning Management System (LMS) – a veritable treasure trove of short, targeted videos on finance, economy, and well-being. It links customers to bank agents and extends a marketplace for customers to engage in business with each other.

Most digital banking applications today are highly transactional utility apps designed for checking balances and performing payments and transfers. They fail to create a significant emotional connection with the user. 11Onze PSN will infuse “human touch” in digital banking.

The 11Onze PSN will bring the traditional customer-bank “relationship” into digital banking, explained James Sene, Founder and Chairman 11Onze. “We are a new category of Social Network with the latest advances of Facebook, Instagram, YouTube, linkedin wrapped up into a Netflix format. This is a vertical social network about money, made in Catalonia. It’s an integral part of our digital community where individuals and small businesses can learn, discuss and understand how banks work. We have used innovative technology that brings a genuine consumer experience to the digital banking sector. Fintech banks have struggled with holding on to the relationship aspect of traditional banks and community banks have failed to optimise in the digital sphere. This gap is filled by 11Onze’s offering.”

11Onze PSN offers an interface between customers and between customers and our agents. Furthermore, it hosts a versatile library packed with information on personal finance, economy, financial intelligence, and Catalonia.

The PSN will continue to add features in a sequential fashion over the coming weeks. This week two important aspects of the PSN are released: La Placa (the Square where people meet and interact) and the 11Onze TV.

From the moment an interested customer enters the platform, they can get to know the key agents of the bank, their background, specialty, and personality. La Placa (the market square)  allows customers to see how the 11Onze agents were chosen, their skills, and their aptitude. It also offers an insight into the values that the digital bank upholds.

Meanwhile,11Onze TV is like a Netflix on banking and finance. It offers a masterclass – a collection of over 200 insightful bits of information and intelligence on a range of topics from “5 tips on how to invest in stocks”, “how to improve savings in your household budget”, “how to reduce stress”, to “how to achieve mindfulness”.

Furthermore, it allows customers to do an independent assessment when it comes to getting a loan or looking for savings. “If you want a loan, you will go through a product evaluation. What is the cost? What are the differences between 11Onze and other banks? You will consider ‘Is this the right product for me’. Basically, you can do a self-evaluation And you can see for yourself if the 11Onze offer is better,” added Jacinto Texido, head of stakeholder relations, 11Onze.

In the coming weeks, the neobank plans to add features including marketplace, crowdfunding, and peer-to-peer lending services.

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