ALMOST 150 investors have become founding shareholders of the first digital, community bank – or neobank – in Catalonia as it gears up for its launch.
The unique aspect of 11Onze is that it has been created to shift the balance of power from the few to the many.
It said that in an age where knowledge is power, it aimed to share intelligence and know-how with its customers to help them control their financial future.
Big banks, as most of us are aware, are controlled by and serve only a few, but 11Onze is largely owned by the Catalan people, helping its locals to build stronger communities – all with cutting edge innovation at its fingertips.
The bank is revolutionary on several fronts – from being the first to ever offer a private social network to its customers and provide a marketplace to allow them to do business with each other.
Jordi Roset, co-owner of the Petrolis Independents fuel chain, said: “I am proud to be a founding shareholder. 11Onze will be the bank for SMEs and ordinary people.
“I see it is an investment into our future. I am hoping my children and my grandchildren will be doing business with this bank.
“I am not investing in the bank like those shareholders who are all day looking at the stock market to see if they made a killing; for me it’s an investment for the future and the country.
“Moreover, as a Catalonian ... we saw many large banks with a long history here, decamp after the independence referendum in 2017.
“This really shocked all of us. To have a community neobank like 11Onze, of which we are founding shareholders, gives me the confidence that it’s here for us and it will stay here for us, for our society and its business fabric.”
James Sene, 11Onze founder, said the founding shareholders are people who share their vision.
“11Onze is a Catalonia-based digital community bank focused on serving and empowering the local people,” he said.
“I believe it is revolutionary not only in its vision but also in execution. We go beyond the normal challenger banks by using a digital platform for banking, offering a private social network and a marketplace to its customers to interact, engage and take control of their finance.”
Sene said being digital would not prevent 11Onze from being personal: “When banks became digitised, they inevitably became distanced from their customers.
“Customers are often served by bots or strangers on the end of a phone line. 11Onze brings the local bank experience into a digital world.
“Every customer will be connected to a dedicated 11Onze member whom they know by name and background. It’s not merely about going digital, it’s also about keeping it local and intimate.”
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