What is Lunar? Lunar Review, Features

Founded in 2015 by Ken Villum Klausen, Lunar is a digital challenger bank that helps consumers take control of their personal finances, primarily offering a variety of commercial banking and consumer lending services.

About Lunar

• Lunar is a digital challenger bank that offers a mobile-based banking app that helps consumers take control of their personal finances and has already attracted more than 200,000 individual users and 5,000 business users in Denmark, Sweden and Norway, including 13,000 entrepreneurs who use Lunar Business to manage their business finances.

• The Lunar Way app currently offers budgeting, spending notifications, transfers, bill payments and card freezes, and with the new banking license it will likely offer more features such as loans, insurance and multi-currency cards.

• Lunar has also launched a youth bank account service, providing the opportunity for young people aged 15 to 17 to start developing financial awareness as early as possible.

Lunar Business Model

Lunar Way believes that the company's service targets the so-called "Sampchat generation" of young people, so they decided to build a banking experience around mobile terminals. Many banking services can be implemented on this app, such as opening a bank account, applying for a MasterCard debit card, receiving real-time spending transaction information, checking consumption transactions by shopping category or merchant, paying bills, etc. It is worth mentioning that in order to cultivate users' good consumption habits, the Lunar Way app can also set a consumption limit to prevent excessive card swiping that exceeds the user's repayment ability.