Gen Z banking app W1TTY hits 500,000 downloads

By Daniel Lanyon on Thursday 28 July 2022

Alternative LendingDigital BankingSavings and Investment

Just over half a year since officially launching, W1TTY’s fintech app seems to be gaining traction among younger consumers.

Gen Z banking app W1TTY hits 500,000 downloads
Image source: W1TTY.

W1TTY, a fintech app that launched at the end of 2021, says it has seen 500,000 downloads in just seven months.

The company has not yet fully launched in the UK but is headquartered in London. It also has over 100+ employees in 10+ countries and currently operates in Spain, Portugal, Poland, Lithuania, Latvia, Italy, and Germany.

With an ‘advisory board’ boasting a number of high profile figures in banking and politics including Lord Peter Chadlington, Chairman of the Board and Founder of Weber Shandwick, Gene Lockhart, Former CEO of Mastercard and Bank of America, Lord Hill of Oareford, Former EU Commissioner for Financial Services and Leader of the House of Lords, and Dr. Mark Ransford, formerly of Goldman Sachs, the fintech company also appears to be striking accord with users. 

W1TTY says its mission is to “empower Gen Z and Millennials with the knowledge to take control of their finances”, positioning itself somewhere between a personal finance app and a neobank.

It secured an electronic money institution (EMI) licence from the UK’s Financial Conduct Authority (FCA) last October. 

W1TTY says it aims to bridge the fiat and crypto worlds and will soon be adding a feature targeting younger investors along with “a fully immersive and gamified rewards programme”.

Founded by Ammar Kutait, also its CEO, this means in practice offering educational services and reward schemes and  human customer service support.

"To align and improve our offerings for the new-age generation, we remain in constant touch with them through research. We continuously work towards meeting the wants and needs of the GenZ and Millennials. The rate our downloads have grown is a testament to a desire for a unique, personalised, and supportive banking style, and we can't wait to bring these services to the UK later this year,” said Kutait.

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