Advanzia Bank is a European digital bank based in Munsbach, Luxembourg. It offers no-fee credit cards and deposit accounts for private customers. Its service portfolio also contains co-branded credit cards and credit card solutions for business partners and other financial institutions, an area in which it is one of the largest actors in the market. Advanzia Bank is subject to the supervision of Luxembourg’s national financial supervisory authority. Advanzia Bank was founded at the initiative of former managers of the Norwegian Bankia Bank. The new company was issued a banking license by the Luxembourg Ministry of Finance in late 2005 and went on to launch its business operations in 2006. Advanzia Bank also entered the German market in the same year in a development seen as an example of the increasing competition between national and foreign financial institutions at that time. More information...
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