How they describe themselves: Instabank was conceived by iDa Mobile, a company that has created over 20 mobile apps for banks in Russia. Our engineering team has collected a lot of experience of creating these mobile banks. We decided to create the first mobile-only bank. Thus, Instabank is a take on the way banking should be done today – in the era of Facebook and iPhones. Our aim is to rethink the whole banking experience for a customer – from terminology to financial transactions. Instead of account numbers, we see Facebook identities. Instead of point of sale IDs, we see Foursquare places. We aim to revolutionize the banking experience the way Instagram revolutionized photo sharing.
Product Distribution Strategy: Direct to Consumer (B2C) & Direct to Business (B2B)