In Brief

A new startup plans to become the first bank in the world to rely exclusively on mobile technology.

Movenbank has self-proclaimed to be the ‘world’s first everyday careless bank’ and has recently launched its site in Alpha mode. The bank will not issue debit or credit cards, instead, its customers will need to rely on NFC-enabled smartphones. The bank will also encourage its customers to save money based on their personality and reward them with badges or a CRED score when they achieve something. To gain a CRED point, users can reach their savings goals  pay off a utility fee or even donate money to charity. Users can also gain CRED points for promoting Movenbank via social media.

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