Neobank 11Onze builds a private social network for its customers

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Catalonia’s digital community bank 11Onze has launched its own private, money-driven Facebook-like social network for its customers.

The private social network (PSN) gives customers access to 11Onze’s Learning Management System – a collection of over 200 short videos focused on finance, economics and well-being. It also connects users to bank agents and their fellow clients, allowing them to interact at La Placa (the market place).

Over the next few weeks, the bank plans to add more features, including a marketplace for buying and selling products and services, as well as crowdfunding and P2P lending.

11Onze says he wants the network to give a human touch to digital banking, which, according to the firm, is currently highly transactional, lacking in emotional connection.

James Sene, President of 11Onze, says: “We are a new category of social media with the latest advancements from Facebook, Instagram, YouTube, LinkedIn wrapped up in a Netflix format. This is a vertical social network on the money , created in Catalonia, is an integral part of our digital community where individuals and small businesses can learn, discuss and understand how banks work.

“We used innovative technology that brings a true consumer experience to the digital banking industry. Fintech banks have struggled to maintain the relational aspect of traditional banks and community banks have failed to optimize in the digital sphere. This gap is filled by 11Onze’s offer. “



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