App-Only Banks

LunarWay Wants to Revolutionize Banking by Only Having an App

LunarWay wants to revolutionize the way people bank by having people bank solely through an app. The Danish based tech company is an app-only bank that allows users to deal with all aspects of banking without ever having to go to an actual branch -- it even allows quick mobile signups.

LunarWay offers users a free account and a free debit card or credit card with an account. The app utilizes biometrics to sign in on the app with a finger print reader. The app makes it easy for users to set up bill payments, users simply need to take a picture of the bill and send approval of payment and LunarWay takes care of the rest.

LunarWay is aimed at the Millennial banker who wants convenience and security. The app-only banking is certainly going to challenge the "antiquated business model" and how consumers bank on a daily basis.
Trend Themes
1. App-only Banking - LunarWay's app-only banking model disrupts traditional banking by offering convenience and security to millennial users.
2. Biometric Sign-in - LunarWay's use of biometrics for app sign-ins presents an opportunity for disruptive innovation in authentication technology.
3. Mobile Bill Payments - LunarWay's feature of taking pictures of bills for easy payment approval showcases the potential for disruptive innovation in mobile bill payment solutions.
Industry Implications
1. Banking - The app-only banking trend led by LunarWay creates opportunities for disruptive innovation in the traditional banking industry.
2. Mobile Banking Apps - LunarWay's app-only model highlights the disruptive potential in the mobile banking app industry.
3. Authentication Technology - LunarWay's use of biometrics for app sign-ins presents an opportunity for disruptive innovation in the authentication technology industry.

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