# Community fintech 11Onze to launch – EL CANUT – a super APP offering universal banking accounts and digital debit cards Author: Pal Sinha, Barnali Author URL: https://financedigest.com/author/pal-sinha-barnali Published: 2021-09-22 Category: BANKING Category URL: https://financedigest.com/category/banking Meta Title: 11Onze launches El Canut: Next generation asset holder for Meta Description: Discover 11Onze's game-changing online banking system, El Canut, offering a one-stop solution for all your financial needs. Shake up the banking sector URL: https://financedigest.com/community-fintech-11onze-to-launch-el-canut-a-super-app-offering-universal-banking-accounts-and-digital-debit-cardshtml ![undefined](https://prod.superblogcdn.com/site_cuid_cm5qst7v3003gwirgwqtxn8i8/images/10-1736837808153-compressed.jpg) **Barcelona-based community fintech** [**11Onze**](https://www.11onze.cat/) **is all set to launch El Canut – the next generation asset holder for its customers in Europe on October 1st.** 11Onze’s launch of **universal bank account and PSD2 compliant digital wallet, El Canut** will shake up the fintech and traditional banking sector in the region which is still coming to grips with the post-Covid closure of local branches. It will also offer a convenient way to do banking without travelling for miles and have dedicated agents on hand for support. **El Canut – a next generation online banking system – offers customers the choice to have all their banking accounts in one place – be it France, Germany, U.K or Spain. In addition, El Canut will allow customers to manage all their payments, transfers, savings and loans from one app or login – a one stop-shop bank account.** The Super APP will allow 11Onze customers to have a global overview of their [financial health](https://www.financedigest.com/how-can-fintechs-better-engage-zillennials-with-their-financial-health-the-answer-lies-in-speaking-to-them-in-their-own-language.html "How can fintechs better engage Zillennials with their financial health? The answer lies in speaking to them in their own language"), position, and enable them to easily analyse their expenses and financial needs. Commenting on the proposed launch, James Séne, Chairman said, “I would not [call 11Onze a bank](https://www.financedigest.com/analysis-powerful-swiss-central-bank-faces-reform-calls-in-wake-of-credit-suisse-rescue.html "Analysis-Powerful Swiss central bank faces reform calls in wake of Credit Suisse rescue") or a neobank. It’s more than a bank. Our objective is to offer a wallet of wallets, a bank of banks. El Canut is a one stop shop for all your [bank accounts and financial](https://www.financedigest.com/financial-crime-is-the-chink-in-the-banks-armour.html "Financial crime is the chink in the banks’ armour") services. I would call it a [next generation asset](https://www.financedigest.com/three-of-the-worlds-biggest-asset-bubbles-willbitcoin-be-next.html "Three of the world’s biggest asset bubbles– willBitcoin be next?") holder.” “El Canut – means a purse in Catalan. In the Middle Ages, peasants used it to carry heavy coins in it. It was in your El Canut that you held all your assets. That’s what we are offering our [customers today – a place to hold all your assets](https://www.financedigest.com/bahamas-regulator-holds-ftx-assets-pending-delivery-to-customers-creditors.html "Bahamas regulator holds FTX assets pending delivery to customers, creditors") and use it on the go. It’s more than a [bank or a payments](https://www.financedigest.com/risk-of-uk-balance-of-payments-crisis-under-truss-is-rising-deutsche-bank-warns.html "Risk of UK balance of payments crisis under Truss is rising, Deutsche Bank warns") system. I would say it is more like Alipay on steroids, than N26.” True to its spirit of community, 11Onze is offering El Canut first to its core members at La Plaça- the [private social network](https://www.financedigest.com/the-new-wifi-how-private-5g-networks-could-revolutionise-business.html "The New WiFi? How Private 5G Networks Could Revolutionise Business") where 11Onze members engage, interact and discuss money matters with the 11Onze agents. 11Onze’s Facebook-like PSN platform, a first for any fintech in Europe, [offers access to 11Onze’s Learning Management](https://www.financedigest.com/carrefour-management-increases-offer-in-wage-talks-with-unions.html "Carrefour management increases offer in wage talks with unions") System (LMS) – a veritable treasure trove of hundreds of short, targeted videos on finance, economy and well-being. It also offers an interface between customers, and between [customers and 11Onze agents](https://www.financedigest.com/agent-retention-is-central-to-improving-the-customer-experience-across-financial-services.html "Agent Retention is Central to Improving the Customer Experience Across Financial Services   "). 11Onze has partnered with leading innovative technology companies such as the US-based **Episode Six** and UK-based **Weavr** to deliver its products. Episode Six has helped develop easy and reliable digital journeys for 11Onze customers for real-time [payment and value](https://www.financedigest.com/5-ways-to-maximise-the-value-of-instant-payments.html "5 ways to maximise the value of instant payments") transfer—with any network, any system, any currency, anywhere in the world. Weavr, an embedded banking provider, is helping 11Onze to integrate [financial services](https://www.financedigest.com/how-financial-services-leaders-can-prioritise-cybersecurity-investment.html "How financial services leaders can prioritise cybersecurity investment") into its products. Speaking about the partnership, Weavr [co-founder and C](https://www.financedigest.com/anthony-di-iorio-joins-bancor-co-founder-and-bittrex-ceo-on-stormx-advisory-board.html "Anthony Di Iorio Joins Bancor Co-Founder and Bittrex CEO on StormX Advisory Board") EO, **Alex Mifsud** said, “11Onze is an exciting and creative use of embedded banking within a community-focused [super app](https://www.financedigest.com/make-way-for-the-rise-of-the-finance-super-apps-consolidation-of-financial-digitisation-tools-platforms.html "Make way for the rise of the Finance Super Apps – Consolidation of Financial Digitisation Tools & Platforms"). Weavr’s mission is to deliver embedded [banking with as little pain and with as much speed to market](https://www.financedigest.com/improving-reputation-in-the-banking-sector-through-marketing-communications.html "IMPROVING REPUTATION IN THE BANKING SECTOR THROUGH MARKETING COMMUNICATIONS") as possible, but it’s only when we encounter innovators like 11Onze that the magic can happen. We are impressed with the focus and drive of the 11Onze team to make their vision of an online community that spans social networking, commerce and [financial services](https://www.financedigest.com/four-tips-to-help-reduce-employee-ghosting-in-financial-services.html "Four tips to help reduce employee ghosting in financial services"), and honoured to be part of their journey.” “We’re excited to partner with 11Onze and provide the payments technology to launch digital payments propositions with the innovative edge that will bring a truly unique [banking experience](https://www.financedigest.com/transforming-the-banking-experience-to-be-mobile-first-and-people-centric.html "Transforming the banking experience to be mobile-first and people-centric") to the people of Catalonia,” says **John Mitchell,** Founder and CEO of Episode Six. “Our mission is to provide our clients with the freedom to design and deploy [winning payment](https://www.financedigest.com/convenience-vs-security-in-ecommerce-payments-how-everyone-can-win.html "Convenience vs Security in Ecommerce Payments: How everyone can win") products and we’re honored that 11Onze has put their faith in us.” 11Onze aims to release new features every three weeks with a promise to have a [digital marketplace for its customers on its platform](https://www.financedigest.com/seenthis-launches-creative-platform-to-boost-performance-and-reduce-co2-emissions-in-digital-advertising.html "SeenThis launches Creative Platform to boost performance and reduce CO2 emissions in digital advertising"). In addition, members can use Peles – 11Onze’s [digital currency](https://www.financedigest.com/coindirect-makes-digital-currency-trading-simple-now-live-in-uk-south-africa-nigeria-and-kenya.html "Coindirect makes digital currency trading simple, now live in UK, South Africa, Nigeria and Kenya") – to trade for services. **This is a Sponsored Feature.** --- This blog is powered by Superblog. Visit https://superblog.ai to know more. ---