The making of o2, Telefónica Deutschland Banking,

German's first mobile bank

2019 Celent Model Bank for Business Model Innovation

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O2 Banking

The convergence of 2 business models

Telecommunication and financial services have similar challenges; both are impacted by digitalization. With every challenge comes opportunity. o2, Telefónica Deutschland recognized the value of listening to customers and embracing their digital culture becoming part of their customers lifestyle. The millions of existing customers that have a trusted and privileged relationship with o2, Telefónica Deutschland, are a key asset that many organisations would love to have. This encouraged o2, Telefónica Deutschland to extend its business model beyond normal telecom operator bounds and offer customers the opportunity to obtain essential services from the provider they already know and trust. Banking was a natural choice.

Check out O2 Telefonica Deutschland

A white-label bank

Barriers to entering the competitive banking market are very high. New banks must both undergo the daunting task of obtaining a banking
license and also make a massive investment. When o2 Telefónica Deutschland found that Fidor Bank had the same spirit when it comes to serving customers, the option of a white-label bank was the clear choice.

Bank as a Service, the emerging business model including technology, a banking licence and banking expertise in running a bank was the key decision critera for o2 Telefónica Deutschland.  It helps white label Fidor Bank to preserve o2 Telefónica Deutschland's brand and its offerings
while relying on experts to run their operations.

o2, Telefónica Deutschland Banking focuses on the front end experience. Fidor provides the digital foundation to build o2, Telefónica Deutschland. In addition to this, Fidor offers all services needed to run a bank in its capabity as a fully regulated EU bank. The offering includes:

  • Fidor Bank's EU licence
  • Mobile channel
  • fidorOS digital banking platform
  • Regulatory, Risk and Compliance services
  • Customers Service for o2, Telefónica Deutschland's customers
  • Banking and customer engagement advisory services


Discover Fidor's Bank as a Service offering

fidorOS: enabler of 2.0 banking

The success of o2, Telefónica Deutschland is a combination of nurturing a digital culture and enabling it through cutting edge technology. It powers an entire digital bank. It enables 60 seconds banking. It expands through third pary offerings. It deploys very fast on the cloud. It has flexibility to tailor to any loyalty scheme such as Free data offered instead of interest rates.


Discover fidorOS    

Key features

   Online Account with Digital MasterCard


   Instant Transfer to Phone Book contact, social media, email


  Credit products: credit card, emergency loan, overdraft

   Rewards: Free data to be used or shared with friends and family

   PFM, Real time analytics with visualisation of savings opportunities

  Security features: card activation / deactivation, real time notifications



First to market

o2, Telefónica Deutschland Bank was the first mobile-only bank launched in Germany in 2015.


Competitive edge

o2, Telefónica Deutschland Bank set the standard for the future of mobile finance and continues to expand its offerings.


Immediate adoption

Digitally savvy customers, especially millennials, have embraced it, ensuring future organic growth.


Bank as a Service fast deployment

The project was accomplishedin a record timeframe of five months, using Fidor’s BaaS architecture. It will enable even faster deployment to additional countries.


Invaluable data insights

The symbiosis between telecom data and spending behavior provides essential insights that enable o2, Telefónica Deutschland to further strengthen and drive future ideas for innovation.


Industry Recognition

o2 Telefónica Deutschland won Best Mobile Bank Awards in 2016 and 2017. Its rating of 4.5 stars out of 5 in app stores and the multiple awards as Mobile Bank of the year are a testament to everyone’s hard work in building o2, Telefónica Deutschland Banking.

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