FF News Logo
Friday, June 12, 2026
Finastra x FF News

Breaking News

TradeStation Expands into Europe, Unlocking Full U.S. Trading Experience for Retail and Institutional Investors ING Hires Aled Patchett to Lead UK Sector Strategy Prosci: Mitigating Human-Side Friction: Deploying Research-Backed Change Management and Executive Coaching Rails MNP and Caseware Partner to Build the Future of Agentic Audit Driving Sustainable Profit in Fintech with Torus, payabl., and Raiffeisen Bank International Eastnets: Navigating the New Era of Instant Payments and Global Fraud Prevention The Dual-Edged Sword of Artificial Intelligence: Structuring Governance Protocols for High-Velocity Financial Solutions Satispay Targets up to €120 Million to Support New Financial Services Push EXCLUSIVE: “Meeting the Challenge of Mythos” – Monica Sasso, Red Hat in ‘The Fintech Magazine’ Beyond Correspondent Banking: The Quiet Rewiring of Cross-Border Payments GoHenry to Join Barclays to Help Even More UK Kids Get Smart With Money Bottomline Unveils CFO Suite to Bring Together Governed AI and End-to-End Cash Flow Management Starling Achieves Record Pricing for Debut Bond as International Investors Oversubscribe Sale Innovate Finance Launches 4th Annual Pride in FinTech PowerList 2026, With New Mentorship Programme and Leadership Council Investa Launches ‘Robin Hood’ Rewards Initiative for Users to Share in Its Future Success

April 21 2020

N26 co-founders are taking 25 % pay cut for a year

Share this post:

Share on LinkedIn Share on WhatsApp

The coronavirus crisis has already made senior executives from Monzo, Lloyds and Revolut to slice down their own personal income.

N26 founders Valentin Stalf and Maximilian Tayenthal decided not to stay behind.

The whole senior management at Berlin-based N26 challenger bank, are taking a 25% pay cut on their own salaries for a year. This comes as a part of plans to ease the impact of COVID-19.

Read also: Lloyds Banking Group teams up with organizations to help the most vulnerable

As mentioned, N26 is one of several fintechs that have introduced pay cuts at the senior level. Most importantly Tom Blomfield from Monzo left his whole pay for a year and Nikolay Storonsky with Vlad Yatsenko from Revolut leaving their income to the company as well.

N26 has a total of 10 members of the executive leadership team which the pay cut plan considers.

Part of the N26’s plan is also an offer to provide 150 of its employees based in Germany and Austria short-term work, known as Kurzarbeit.

This Kurzarbeit scheme, as it is known in Germany, is a wage subsidy, which is similar to the furlough scheme in the UK.  

Read also: Revolut offers staff swap salary for shares

Employees who agree to this scheme work reduced hours and receive at least 60% of their net income for up 12 months.

This means they remain on the payroll and prevents staff from being laid off.

Since there is 1,500 of N26’s employees in total the 150 figure represents 10% of their total staff count.

This February N26 announced it was closing down its UK operation from April 15 with the official reason being the UK’s Brexit but some commentators also suggested, that the UK’s market was already well covered by the domestic challengers from Monzo to Starling to Revolut.

[mc4wp_form id=”2736″]

  1. TradeStation Expands into Europe, Unlocking Full U.S. Trading Experience for Retail and Institutional Investors

    News

     Read more
  2. ING Hires Aled Patchett to Lead UK Sector Strategy

    Hiring

     Read more
  3. Prosci: Mitigating Human-Side Friction: Deploying Research-Backed Change Management and Executive Coaching Rails

    Banking Transformation Summit 2026

     Read more
  4. MNP and Caseware Partner to Build the Future of Agentic Audit

    Fintech

     Read more
  5. Driving Sustainable Profit in Fintech with Torus, payabl., and Raiffeisen Bank International

    Fintech TV

     Read more
FTT AI Transformation x FFnews
More On