We spoke to Alex Sagrado, Chief Product Officer at Rebellion. We spoke with Alex about the new banking and crypto trading services.
Could you tell us a bit about Rebellion's history and what it does today?
Rebellion was created in 2017 to revolutionize the banking sector. Our goal was ambitious: simplify and create a 100% mobile banking experience that is accessible to younger generations, Generation Z, in particular, which has been generally overlooked by the traditional banks. We want to become the digital alternative to traditional banking in Spain.
Our goal is to offer financial solutions that are simple, transparent and custom, without ties or catches, and we are constantly evolving our value proposition to meet the new needs of users. Over the last two years we’ve grown rapidly. Today we have more than 200,000 users. It’s been a natural progression and our audience has grown to be very interesting and useful, aged between 25 and 40 years old. Right now, any Rebellion user will have practically all of their banking needs covered. They can withdraw cash, use their cards, use contactless payment, send or receive payments within Spain and pay their bills automatically.
As a neobank, what value do you offer that traditional banks don’t?
I’d first highlight our adaptability to the time and environment that is changing at an increasingly fast pace. At Rebellion, users are in the very center of our strategy. We listen to them and keep them in mind to give them financial experiences that are increasingly easy, authentic and intuitive. That’s why we offer an app, a bank account and cards at zero cost. There are no commissions or fine print. We also offer attractive discounts in streaming platforms, travel businesses, supermarkets, etc.
However, what differentiates us more than anything else is the way we relate with our clients, our commitment to not making promises that we can’t keep and that with Rebellion, user’s don’t need a traditional bank since we offer all the services most people need for their daily lives.
Which of your services has been most successful so far?
The most popular service for more than a year has to do with mobile payments using Google or Apple Pay. Today, 80% of our clients use only their virtual cards thanks to this technology. We’ve also seen huge growth in nstantaneous payments and transfers. Finally, we’ve seen a new spike in interest when it comes to cryptocurrency and investment. That’s why, last June 1 we added a new functionality that allows users to invest in cryptocurrency directly through the Rebellion app. The truth is that it’s seen a lot of pickup and is continuing to see strong growth.
Why did you decide to launch crypto trading services?
As I said before, at Rebellion we’re obsessed with our users, we listen to them and put them at the center of our strategy. We detected a big spike in interest in users around the world for investments and cryptos and that was what fueled our decision to add the service. At the same time, we’re in love with technology, how it’s evolving and the strategies that allow our clients to manage their money easily and comfortably. So we designed the service to make the world of cryptocurrency accessible and attractive, even for those who maybe hadn’t considered it before. The service is for all kinds of investors, especially those who are new to the cryptocurrency market. At Rebellion, we lways promote responsible investment and are transparent with our users about the risks/rewards that investing entails.
What are your plans for the future?
Our goal for 2021 is to grow our presence in Spain and reinforce our value proposition to reach more people searching for a better financial offer. Among our big projects for the year, it’s not just about developing investment products but also renewing our visual identity. It will keep the same rebellious spirit but will be more mature in terms of consistency and simplicity.