Leobank is a mobile-only bank offering credit cards with high limits, cashback rewards, and interest-free installment plans. Through its mobile app, customers can access a range of financial services, including a grace period for credit card payments.
Funding
Funding not disclosed
Founders
Product
Problem
Traditional banking services in Azerbaijan often involve cumbersome processes, paperwork, and branch visits, creating inconvenience for users seeking quick access to financial products. Existing solutions may lack the flexibility and accessibility required for modern, mobile-first consumers.
Solution
Leobank is a mobile-only bank that provides users in Azerbaijan with a seamless digital banking experience, offering credit cards with high limits and various financial services accessible through a mobile app. The bank eliminates the need for physical branches and extensive documentation, providing a streamlined application and approval process. Leobank provides a grace period on credit card payments, cashback rewards on purchases, and installment plans for managing expenses. The platform also offers tools for expense tracking, budgeting, and peer-to-peer transfers, all within a user-friendly mobile interface.
Target Audience
Leobank primarily targets tech-savvy individuals in Azerbaijan who prefer managing their finances through mobile devices and seek convenient access to credit and other banking services.
Features
- Mobile application for managing finances, applying for credit, and making payments
- Credit cards with limits up to 15,000₼ and a grace period of up to 62 days
- Cashback rewards of up to 20% on purchases made with the Leobank card
- Installment plans with a 1.5% monthly fee for splitting purchases into multiple payments
- Fee-free balance top-ups, payments, and transfers up to 2000 ₼
- Savings feature ("Xəzinə") with tiered annual interest rates up to 7%
- VAT refunds by scanning receipts within the app
- Options to manage the card, change PIN, block the card, and manage payments