Innovations in open banking have resulted in many startups developing fintech banking applications, allowing them to provide personalized financial services to customers. Whilst these provide a variety of services such as savings accounts, flexible payments and business accounts, each provider offers a different combination of such services, meaning customers must sign up for various banking services to access all necessary features.
Oxygen provides a consumer & business banking platform, allowing individuals and businesses alike to create mobile banking accounts to access a variety of financial services. Personal accounts include cashback rewards, flexible payments, savings accounts, virtual cards and travel benefits, with businesses being provided with 1% business savings, secure virtual cards, and no monthly fees.
Whilst the company faces competition from others within the saturated open banking mobile application market, Oxygen has taken a unique all-in-one approach, unifying fragmented services for both businesses and individuals into a single banking platform. In 2023, Series B funding led to a leadership shift and substantial growth for the company, as it evolves to meet growing demand.
Kirsty
Company Specialist at Welcome to the Jungle