Digital banks and fintech platforms have already proven their ability to disrupt traditional models with technology-driven innovation. Their existing infrastructure, app-oriented customer base, and digital-first mindset give them a natural edge as they move into the mobile connectivity space.

Modern banking app users already display behaviors relevant to mobile services. Many routinely purchase prepaid airtime and data packages through their banking apps. A significant number maintain international lifestyles, traveling frequently and needing reliable cross-border The merger of financial services and telecommunications stands out as one of the most dynamic transformations in today’s tech landscape. Digital banks and fintech companies are increasingly realizing that mobile connectivity is not just an add-on service—it’s the next logical step in their customer relationship strategy.

The momentum here is undeniable. The global MVNO market reached approximately $88 billion in 2024, with projections showing a solid 8% annual growth through 2030. This expansion is being driven by rising demand for tailored mobile services, a surge in connected devices, and the game-changing potential of advanced network technologies. For financial institutions that already have a digital-first foundation, this is a clear opportunity to redefine how they engage customers.

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Why Financial Institutions Are Well Positioned for Mobile Services Connectivity ‍

These trends highlight where integrated mobile services can add value for customers and create new revenue streams for banks.

The advantages go beyond convenience. By controlling both the banking relationship and the connectivity layer, financial institutions gain unique insight into customer behavior. Every data session, call, and location signal becomes valuable for personalization, fraud detection, and optimizing services. Mobile services are also most persistent and high-frequency part of customer’s digital life, turning them into channels of engagement to drive brand loyalty and service bundling.

‍Real-World Success Stories: Financial Services Leading the Connectivity Revolution
This convergence isn’t just theoretical—it’s already producing results in global markets. Several forward-thinking financial institutions have launched mobile services, demonstrating both the viability and profitability of this approach.

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‍Revolut: Europe’s Digital Banking Leader Expands into Mobile‍

Revolut entered the MVNO space in 2025, launching in the UK and Germany with unlimited calls, texts, domestic data, generous roaming, and no long-term contracts. With over 10 million UK customers and 2 million in Germany, Revolut has a significant base for mobile subscriber growth.

This launch built on the success of Revolut’s eSIM product, introduced in 2024. The eSIM saw millions of activations and quickly became the company’s top non-banking product, validating demand for integrated connectivity ahead of the MVNO rollout.

Revolut positioned its mobile offering to address key pain points—hidden fees, poor customer experience, and outdated interfaces—delivering a transparent, value-driven product. Customers manage mobile service within the existing Revolut app, pay with loyalty points, and benefit from the same digital-first approach that has defined Revolut’s banking services.

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Klarna: Buy Now, Pay Later Meets Mobile Connectivity‍

Klarna launched an unlimited 5G mobile plan in the US in 2025, entering telecom with a $40/month plan featuring unlimited data, talk, and text on AT&T’s network. Expansion to the UK, Germany, and additional markets is planned.

With 25 million active US customers, Klarna aims to disrupt the telecom sector by leveraging its payment infrastructure and app ecosystem. Customers can activate and manage their mobile service within the same app used for payments and purchases.

The plan features unlimited 5G data, talk, and text, with no hidden fees, activation, or cancellation charges, and the ability to transfer existing phone numbers. Klarna, like Revolut, is focused on eliminating traditional telecom pain points—customers can switch within the app, avoiding store visits, phone calls, or paperwork.

In summary, the boundary between banking and mobile connectivity is dissolving. As financial institutions strengthen their digital offerings, integrated mobile services are emerging as the next strategic frontier.

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Monzo: UK Challenger Bank Joins the Movement‍

Monzo, one of the UK’s strongest digital banks, is now stepping into the UK mobile market with digital SIMs and contract offerings—joining the wider trend of fintechs expanding into telecom. With their customer base topping 13 million by August 2025, Monzo’s positioned well to cross-sell mobile plans directly to tech-savvy users who already trust the brand.

This move came after Monzo heard significant customer feedback around mobile contracts being a consistent pain point. So now, Monzo is looking at how to offer mobile services—done "the Monzo way." The timing’s smart: MVNOs gained 1.6 million UK customers in 2024, while the top four traditional mobile operators saw a combined loss of 180,000 subscribers. It’s a market shift that clearly benefits digital-first entrants like banks and fintechs.

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‍The Pattern of Success‍

If you look at success stories in this space, a few strategic themes pop up. First off, financial institutions already have huge user bases, which slashes the cost of customer acquisition. Banks and fintechs can simply offer mobile plans to customers who already trust their apps, instead of spending a fortune trying to win people over from scratch like traditional telecoms.

Second, their digital-first mindset means they can deliver a better user experience. These firms built their reputations on clean, intuitive apps—so translating that to mobile services gives them a clear edge over legacy carriers still bogged down by old systems and clunky customer journeys.

Third, integrating payments and mobile opens up bundling opportunities that traditional telcos can’t match. Customers could pay their mobile bills with loyalty points, split payments with BNPL, or bundle financial and telecom services in creative ways.

And, banks have international customer bases who travel frequently. That fits perfectly with compelling roaming offers. Customers already using Monzo abroad for currency exchange are a natural target for thoughtful roaming packages.

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The Business Case: New Revenue and Stronger Relationships‍

Financially, this is attractive on a few fronts. By bundling mobile and financial services, banks can create new packages that draw in new customers and boost loyalty among current ones—generating revenue well beyond traditional banking.

Cross-selling becomes far easier and more effective. A bank-turned-MVNO can sell device insurance, offer flexible device financing, or enable instant micropayments for telecom services. Each product deepens the relationship and adds to overall profitability.

And let’s not forget the value of data. Banks can see not just what customers buy, but where they travel, which apps they use, and how their digital habits evolve. That’s invaluable for product development, risk management, and personalizing services.

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‍Overcoming Implementation Challenges with Modern Technology‍

Of course, entering telecom isn’t without challenges. Financial institutions have legitimate concerns about operational complexity. Fortunately, modern cloud-native BSS/OSS platforms have changed the landscape entirely.

Gone are the days of huge upfront investments, specialized telecom expertise, and endless deployment timelines. Today’s SaaS-powered solutions let banks launch mobile services with the same agility they bring to banking—no need to build telecom skills from scratch.

Regulatory compliance is also much less daunting when working with experienced platform partners who understand both telecom and financial regulations. The right partner brings proven frameworks for handling compliance efficiently.

Integration used to be a major barrier, but now, API-first architectures and prebuilt connectors mean banks can add mobile connectivity to their existing systems with minimal friction.

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The Circles Aspire Advantage: Purpose-Built for Financial Services MVNOs

At Circles Aspire, we've developed our BSS/OSS platform specifically for non-traditional telecom entrants like banks and fintech companies. Our technology addresses the unique requirements of financial institutions seeking to offer mobile connectivity without abandoning their core competencies.

Our cloud-based platform enables rapid deployment that aligns with the pace of digital banking innovation. Financial institutions can launch new services with agility and scale as their business grows, benefiting from comprehensive real-time controls for both prepaid and postpaid accounts. We've compressed traditional 18-month MVNO deployment cycles into launch timelines measured in weeks rather than quarters.

The platform handles all essential telecommunications functions including call control, voice, SMS, and data connectivity across 3G to 5G networks, with robust connections to core network elements and advanced redundancy for reliable operations. This comprehensive technical foundation means banks don't need to develop telecom expertise internally—they can focus on what they do best while we handle the complexity of network operations.

Our modular architecture supports sophisticated business models that align with banking and fintech requirements. Operators can build region and zone-based tariffs, implement off-peak and peak pricing strategies, and create diverse bundle types including recurrent packages, add-ons, roaming options, and unlimited plans. This flexibility enables financial institutions to craft mobile offers that complement their existing product portfolios and support their specific customer segmentation strategies.

The platform supports advanced hierarchical structuring and flexible grouping for families, businesses, and connected devices, which proves particularly valuable for banks serving both retail and commercial customers. Family banking relationships can extend seamlessly into family mobile plans. Business banking clients can manage their corporate connectivity alongside their financial services.

Perhaps most importantly, our solution allows operators to manage multiple MVNOs, brands, and partners from one central platform, with secure data separation and access controls. This multi-tenant capability means banks can launch different mobile offerings for different customer segments or geographic markets without multiplying operational complexity.

Add a blurb on DASS - we help with not just the technology but advisory services too which brings operator expertise, digital-first customer value proposition, proprietary digital products etc etc

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The Strategic Imperative: Moving from Banking to Connected Financial Services

The convergence of banking and telecommunications isn't a distant possibility—it's an active transformation reshaping competitive dynamics today. Financial institutions face a clear choice: lead this evolution or respond to competitors who move first.

Early movers capture significant advantages including preferential wholesale rates from network operators, strategic choice of technology and spectrum partners, and the opportunity to define customer expectations for integrated financial and connectivity services. Banks that delay will find themselves competing against MVNO-enabled financial services companies that already understand their customers' connectivity needs as well as their financial requirements.

The technology barriers that once protected traditional industry boundaries have disappeared. Cloud-native BSS/OSS platforms, favorable regulatory frameworks, and advanced network capabilities create an environment where banks can enter telecommunications with reasonable investment and manageable risk. The question isn't whether financial institutions possess the technical capability to become MVNOs—modern platforms like Circles Aspire ensure they do. The question is strategic vision: which financial services leaders recognize that mobile connectivity represents the next dimension of customer relationship management?

The financial services companies winning the next decade won't just offer better banking products. They'll provide comprehensive digital ecosystems where connectivity, financial services, and data-driven personalization combine to create unmatched customer value. Mobile services aren't an adjacent opportunity—they're the connective tissue binding together the future of digital financial services.