Program Helps Refugees Open Bank Accounts By Giving Them Digital Identities

Program Helps Refugees Open Bank Accounts By Giving Them Digital Identities
Financial Services

A conceptual application could help refugees lacking identity paperwork by going through their digital footprints

Zack Palm
  • 21 june 2017

Refugees face numerous challenges when they enter a new country, from finding a place to stay to having to learn a new language. Some countries and cities also have requirements refugees are unable to fulfill; for example, in Berlin, a person must have a bank account in order to rent an apartment. Refugees often lack the necessary paperwork, including proof of identity, to open a bank account, so the startup Taqanu developed an alternative. Taqanu’s concept allows refugees to use their smartphones to prove identity by drawing from their digital footprints.

Taqanu created an application that browses through a user’s digital life. The app also reaches out to contacts to create a reputation network, requesting help from others to verify a person’s identity. Refugees can upload pictures of paperwork from previous camps or locations to build evidence about who they are. The application could also help a refugee establish a new credit score to demonstrate reliability.

Taqanu’s founder Balázs Némethi drew from his own experiences attempting to apply for bank accounts in foreign countries and wanted to make the process easier for people likely to have limited access to documentation.

Taqanu has drawn the attention of larger companies, including Microsoft and the accounting company Deloitte. Microsoft representative Daniel Buchner appealed to Taqanu to market to partners beyond humanitarian organizations, a recognition of the app’s value for general users in the open market.

Digital Identities

Taqanu faces a large challenge in regulation, as regulators must approve the service before it can launch. The company has entered discussions with regulators, but the timeline for arriving at a decision remains unclear. In July 2017, Taqanu will attend the G20 summit in Hamburg to present their concept to central bankers and policymakers.

European regulators, bankers, and policymakers will have the final say on whether Taqanu’s product is permitted and to what extent refugees will be able to use it after settling in a new country.


+bank accounts
+digital identities

More in banking


ATMs Could Soon Go The Way Of The Payphone

Like telephone boxes, they could become a relic of a bygone age

6 November 2017

Alternative Credit Agency Lets Immigrants Bring Their Credit With Them

Nova Credit wants to make it easier for immigrants to take out loans in a foreign country and receive financial support

3 November 2017

The Latest


PSFK is proud to host a special half-day conference with expert speakers on new opportunity in brick & data retail

January 17, 2018 | New York City

Prison inmate turned fitness CEO Coss Marte discussed how he went from selling drugs on a street corner to running a company at Saks 5th Avenue, alongside racks of designer clothes and shoes.

September 27, 2017
No search results found.