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      <p>
        Oxygen, a neobank serving individual customers and businesses, announced that it has temporarily suspended its banking operations as it looks to pivot toward health insurance services.
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        The company began the account closure process on March 8. Customers were informed that their accounts would be closed on March 29. The Bancorp Bank will return any remaining balance in their accounts after this date by cheque. Customers will have access to their accounts until March 29.
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        As part of its new strategy, the company plans to integrate health with financial solutions and launch Oxygen Health, a health insurance offering, by the end of this month. 
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  <p>
    <a href="https://www.fintechfutures.com/2024/03/us-neobank-oxygen-switches-focus-from-banking-to-health-insurance-in-new-strategy/">
      Fintech Futures
    </a>
  </p>
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Neobanks

PROMINENT_CATEGORY

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 <p>Oxygen, a neobank that previously served both individuals and businesses, has announced the temporary suspension of its banking services. The company is intending to shift its focus towards the health insurance sector.</p>
 <p>The procedure of closing accounts began on March 8 and customers were informed that all accounts would be officially closed on March 29. Any remaining funds in these accounts after this date will be returned to the customers by cheque, issued from The Bancorp Bank. Access to these accounts will be available until the closure date.</p>
 <p>Oxygen's new business strategy involves combining health and financial solutions, with plans to launch Oxygen Health, their health insurance service, by the end of the month.</p>
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All Updates

Oxygen suspends banking operations during potential pivot toward health insurance services

Oxygen raises USD 20 million in a Series B funding round; appoints David Rafalovsky as CEO

Oxygen in talks to raise funds at a valuation of over USD 500 million