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Telefonica's German subsidiary, O2 Germany, launched its purely mobile banking service, O2 Banking, in July 2016. Ovum believes that this banking service will improve O2's branding in Germany, but will not increase revenue.


  • Unlike traditional banks which would use their interest rates to attract customers, the O2 Banking service takes a differentiated approach by using data as an inducement to open an account.

Features and Benefits

  • Explains why service provider banking services will not offset declining revenues.
  • Investigates what service providers should do to improve service uptake.

Key questions answered

  • What are the key differentiating features of O2 Banking that make it a real OTT service?
  • What is O2's addressable demography with O2 Banking?

Table of contents

Ovum view

  • Summary
  • O2 Banking is an OTT service that uses data as an incentive
  • O2 Banking will not offset declining revenues but will improve stickiness
  • O2 should up their go-to-market strategy by trying out bundling and app pre-installment


  • Author

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