Credit Suisse will launch a digital banking app in October challenging fintechs like Revolut in the Swiss bank’s home market by offering free foreign transactions and fully digital wealth management, the bank said on Thursday. Credit Suisse’s new CSX banking app will offer free online banking including a free-of-charge online debit card and other capabilities to be rolled out over months enabling customers to take out mortgages, make investments and plan their pensions, Switzerland’s second-biggest bank said.

Digital competitors like Britain’s Revolut and Germany’s N26 have amassed millions of customers and billion-dollar valuations by offering cheap, user-friendly alternatives to traditional banking services. Undercutting incumbents on pricing for foreign exchange, stock trading and money transfers, they are particularly popular with younger customers.

Credit Suisse aims to cut costs in its Swiss retail business by closing roughly a quarter of its branches, while bringing in new customers — particularly in the younger client segment, where it says it has catch-up work to do — by expanding upon other digital solutions in the market and offering brick-and-mortar presence to those seeking it.

Its CSX app will roll out a fully digital wealth management service in mid-November, it said.

Cash withdrawals at ATM machines are not covered by the app, but clients who do so regularly can reduce costs via a Mastercard debit card that costs 3.95 Swiss francs ($4.34) a month.

Branches in the future will offer ”digital bars”, while specialists will provide personal advice via video conference, Credit Suisse said. Some locations will offer co-working spaces as well as ”event zones” designed to attract start-ups and other event organisers.