Just over a year on from securing a universal banking licence with the European Central Bank (ECB), Greece-based neobank Snappi has launched into general availability.
The Ioannina-headquartered challenger makes its market debut with Greek IBAN accounts, virtual and physical bank cards, and a 3% interest rate.
Connected to the national automated clearing house DIAS, the app also supports IRIS payments, SEPA transfers, utility bill payments, and cross-border transactions.
In a noted turn away from latest industry trends, a launch statement confirms that Snappi maintains “no bot-reliance, no scripts, no outsourcing” through its customer support channels, claiming to be “one of the very few neobanks in Europe to do so”.
Snappi is the result of a joint venture between Piraeus Bank in Athens, core banking software vendor Natech and its partner Neptune International.
The project has been underway since 2022 in a bid to seize a share of the market from digital competitors such as Woli, and Praxia Bank, acquired by Viva Wallet five years ago.
Development turned a corner in July 2024, when the ECB accepted a proposal from the Bank of Greece to approve Snappi for a banking licence, creating what is now hailed as “Greece’s first fully digital bank”.
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“At Snappi, we’ve rethought what banking should feel like – simple, transparent, and built around real life,” comments Gabriella Kindert, CEO of Snappi. “We’ve created a platform that’s digital-first but grounded in trust, combining the ease of fintech with the stability of a fully licensed European Union bank.”
Kindert continues: “Transparency is central to everything we do: no hidden fees, no small print, just clear, fair banking. With strong local roots in Greece and an international outlook, we’re part of a new generation of neobanks designed to be flexible, inclusive, and genuinely helpful day to day.”
Upcoming product developments are expected to include a flexible payments feature called Snappi Pay Later, which will allow users access four interest-free repayment options for e-commerce transactions, and which the challenger says is “scheduled to launch soon”.
Source: https://www.fintechfutures.com/
