Bank for all.

CLUSTER: Migrants’ entrepreneurs and migrant lead businesses

START DATE: January 2016






IT, finances, refugee bank


whereBerlin, Germany



Balázs Némethi




Access to a bank account regardless the residency or available documentation

The service intends to make use of new technologies for the creation of a fully digital identity, using alternative information of the user such as pictures. The metadata of this information will be analyzed in order to authenticate (for example coincidence on location and time) and this will be used to create the user’s identification to access the bank account.

why it is

By using a set of new technologies and a smartphone the refugees will be able to open a bank account. This technology will facilitate the creation of a digital identity, and the verification and authentication processes. Taqanu has already quite a strong media presence and recognition. It has been presented in several congresses and events.


Relation with the country of origin:
Balázs is an architect from Hungary, he studied in Holland and was working in Norway while the biggest wave of Refugees was coming to Europe. During that time he experienced himself the bureaucratic process to get a bankcard in Norway and heard the news of a fence that was being build in Hungary to block the entrance of refugees. This is when he started the research that generated the idea of Taqanu Bank.
Relation with previous personal competencies/abilities/skills:
Balázs was involved with entrepreneurship, taking courses in Holland, and creating a start-up in Hungary. He also participated in many start-up conferences. Therefore when Taqanu was taking shape he already had a network in the start-up scene and the necessary skills to participate in incubation programs.

Start up

Role of network/community:
When he got the acceptance of a Swiss accelerator program, He made the decision to dedicate himself full time to Taqanu. Social networks were fundamental for the promotion of Taqanu in terms of disseminating the information and getting contacts to present the project in a wide range of events worldwide.
Relation with the context:
Berlin is the point where refugees, the start-up scene and the migrant welcoming culture (open and language friendly) meet. The uniqueness of the city, even compared to other German cities makes it a good location to settle the head quarters of Taqanu.
Main difficulties/challenges:
The scepticism, as it is a new project challenging the financial sector and using alternative technologies they need a lot of effort to gain credibility and recognition. They are also required to deal with regulations of the financial system and the identity management in close cooperation with governments. Regarding funding, as any start-up team they need to believe in their idea but it is essential to have a business model to attract investors.
To open a company is slow process and requires an effort, time and money. Starting, the launching of the service is crucial and they also have to prove it works.


Main Milestones:
The pilot test is key to engage the investors in the development of the system and to prove its functionality and be able to launch Taqanu. The idea is to perform the test with contributors before trying it with the real users (refugees) in order to find what needs improving in the service. After that, the service will be scaled to reach from 100 to hopefully 1000 real users.
Main difficulties/challenges:
Taqanu intends to keep thresholds in order to avoid money laundry. The amount of transactions can ́t surpass these thresholds. They aim to prevent the accumulation of transactions sent in the same direction. If there is an anomaly, the pertinent agencies can be warned. They will use a Digital ID to prove the identity of the users and create a digital footprint. For this purpose, the users have to provide pictures or any type of available documentation with any data. The more they are able to verify it themselves, the higher the level of security in the recognition of their profile.
They have difficulties engaging women in technology programs.


The entrepreneurs that form part of the team are using their own resources meanwhile the start-up is arriving to the point where it can be launched. At the moment, Taqanu is about to start the fundraising stage.
The team is composed by 3 members.


Main Goals/challenges:
To reach the development stage.
Critical Factors to manage this challenges:
The promotion of the project, and making valuable partnerships with individuals that can provide their knowledge and experience, as well as organisations that can become supporters.