Procurement Policy

We are responsible and hold joint accountability with the business lead for the execution of the sourcing process for N26 stakeholders, such as:

⚠️ potential multiple answers..

• External market testing (RFI, RFQ, RFP)

• Contract re-negotiations

• Fair value assessments 

• Provide a Legal assessment for any service provider

Sourcing Team’s Purpose as an internal service provider at N26, is to deliver business value and third-party risk compliance, through which of the following functions?

• Probity & compliance 

• Providing objectivity

• Achieving fair value

• All of them

What Sourcing DO NOT do ?

⚠️ potential multiple answers

• Provide Legal assessment

• Make decisions

• Approve TPRA

• Find the best goods/service

Original copies of Contracts, Purchase Orders and Invoices

should be kept for _ years?

• 10

• 15

• 5

• 7

Who can overrule the Sourcing decision on the Vendor Selection ?

⚠️ unique answer

• Business Owners

• 2LoD

• Managing Directors

• Hamish

What do we need from our stakeholders during sourcing process?

• Clear requirements for the solution 

• Agreed timing for the initiative

• Understanding of budget requirements / limitations

• All of them

Answer explanation

This Procurement Policy applies to all N26 staff, managers, directors and officers as well as any agent(s) seeking to acquire, acquiring and/or managing any ongoing, or one-off contractual and relationships for the provision of all services and/or goods to or on behalf of N26.

In which of the following countries the N26 Procurement Policy applies?

(multiple answers)

• 🇩🇪

• 🇰🇷

• 🇧🇷

• 🇮🇹

• All of them

Answer explanation

Policy applies to all N26 Group (N26 Bank GmbH & N26 GmbH and related subsidiaries), with the exception of any Brazilian entities to provide commitment to compliance and value delivery for our customers and shareholders.

In which of the following situations are we allowed to split Contracts/Orders?

E.g. (2 x €50k, instead of 1 x €100k contract)

• To avoid a shortage

• After a "Book it !" Slack from AW

• None of them

• After a "Book it !" Slack from HK

Answer explanation

Artificial splitting of Contracts/Orders or projects in order to avoid the implications of another procurement process category is strictly prohibited. When in doubt, business units must consult their relevant Sourcing Lead.

Who needs to approve a €38 750.57 Purchase Order ?

*VAT excluded

⚠️ potential multiple answers

• Requester's manager

• Cost Center Manager

• C-Level

• Founder

Who can overrule the Sourcing decision on the Vendor Selection ?

⚠️ unique answer

• Business Owners

• 2LoD

• Managing Directors

• Head of Sourcing (Hamish)