Gen Z W1TTY banking app hits 500,000 downloads

Alternative loansDigital bankSavings and investment

Just over six months after its official launch, W1TTY’s fintech app seems to be gaining traction with young consumers.

Image source: W1TTY.

W1TTY, a fintech app launched in late 2021, claims to have logged 500,000 downloads in just seven months.

The company has yet to fully launch in the UK, but is headquartered in London. It also has over 100 employees in more than 10 countries and currently operates in Spain, Portugal, Poland, Lithuania, Latvia, Italy and Germany.

With an “Advisory Board” of a number of high-profile banking and political figures, including Lord Peter Chadlington, Chairman and Founder of Weber Shandwick, Gene Lockhart, former CEO of Mastercard and Bank of America , Lord Hill of Oareford, former European Commissioner for Financial Services and Leader of the House of Lords, and Dr Mark Ransford, former of Goldman Sachs, the fintech company also seem to be in agreement with users.

W1TTY says its mission is to “empower Gen Z and Millennials with the knowledge to take control of their finances,” positioning itself somewhere between a personal finance app and a neobank.

It obtained an Electronic Money Institution (EMI) license from the UK’s Financial Conduct Authority (FCA) last October.

W1TTY says it aims to bridge the fiat and crypto worlds and will soon add a feature targeting young investors as well as a “fully immersive and gamified rewards program.”

Founded by Ammar Kutait, also its CEO, in practice this means offering educational services and reward programs and human customer service.

“To align and improve our offerings for the next generation, we stay in constant contact with them through research. We are constantly working to meet the wants and needs of GenZ and Millennials. The growth rate of our downloads demonstrates a desire for a unique, personalized and supportive style of banking, and we look forward to bringing these services to the UK later this year,” said Kutait.

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