Tagged: banking challenger

UK’s Starling Bank Survey: Consumers Admit to Overspending, Experience Negative Impact of Making Unnecessary Purcchases

The Black Friday sales are fast upon us and while “nearly two thirds (62%) of consumers say they plan to take advantage of the discounts, nearly a third (29%) of people who have shopped over Black Friday in the past have regretted their purchases.” Buyer’s… Read More

Could UK’s Metro Bank Be This Year’s Next Major Banking Fail?

Metro Bank (MTRO.L)has had a challenging week. Reports that the UK-based challenger bank had been planning to raise as much as £600 million from investors led to financial regulators asking the bank’s management to have a sit-down meeting. Although shares in the banking institution fell… Read More

UK Adults Focused on Savings Despite Many Having Less than £1K in Bank Accounts – Report

Gatehouse Bank, the Shariah-compliant challenger bank, has released new research demonstrating that the UK’s money mindset is shifting towards saving. The research looked at UK adults’ attitudes towards money, “assessing the key factors that influence them, why they look to save or spend their money… Read More

European Digital Challenger Bank Lunar Doubles Revenue in H1 2023

Lunar doubles net interest and fee income in the first half of 2023 “compared to the same period last year.” At the same time, Lunar continues its investments in “developing the business and the product range to become the best everyday bank in the Nordics.”… Read More

Financial Inclusion: Revolut Introduces Accounts for US Residents without SSNs

Revolut, the global financial super-app with more than 30 million customers globally, consistent with its ongoing mission to give customers more control over their finances and connect people seamlessly across the world, announces it is “offering accounts to non-US citizens in the US, who do… Read More

Digital Bank Monzo Is Reportedly Considering Potential Merger with Banking Platform Lunar

UK-headquartered digital bank Monzo is reportedly holding discussions regarding a potential merger with Nordic region firm Lunar. This, acccording to recent reports from Bloomberg. Lunar, a virtual bank with more than 650,000 clients across Denmark, Sweden Norway, has previously secured €35 million in order to… Read More

European Neobanking Fintech bunq Applies for US Banking License

The second largest neobank in the European Union is reportedly launching in all 50 US states. bunq, a neobank in the EU, has filed an application for a US banking license with the FDIC in the state of New York. By applying for a bank… Read More

Digital Banking: UK’s Starling Bank to Launch Fixed Saver Product

Starling Bank is rolling out its first savings product offering “a guaranteed return of 3.25% over one year on balances of £2,000 or more.” The new Starling 1-Year Fixed Saver is “built seamlessly into the Starling app for maximum visibility and control.” Starling personal current… Read More

UK’s Atom Bank Appoints Andrew Marshall as New CFO

UK-based challenger bank Atom has appointed Andrew Marshall as the company’s chief financial officer. He will be replacing Atom co-founder David McCarthy whose departure was first reported  in September of this year. Marshall has reportedly worked at Atom for the past six years, holding several… Read More

Digital Banking: Trust Bank Launched in Singapore via Standard Chartered, FairPrice Partnership

The virtual banking sector in Singapore has grown significantly in the past few years. Recently, the launch of Trust Bank was announced via a partnership between Standard Chartered and retailer FairPrice. The Southeast Asian challenger bank platform provides the typical retail banking service, along with… Read More

UK’s Metro Bank Joins APPG for Challenger Banks, Building Societies as Associate Member

The APPG for Challenger Banks and Building Societies are pleased to confirm that Metro Bank is now the latest challenger bank to join them as an Associate Member. The APPG is a cross-party group of MPs and Peers that focuses on informing parliamentarians about challenger… Read More

Fintech Revolut Introduces Expense Management Product

Fintech firm Revolut is now entering the fast-growing spend management sector with a new in-app product that allows companies to issue payment cards with a quick tap and set up time and category-based spending limits. After the roll-out of Payroll for UK clients this February… Read More

UK Fintech SaaScada Finalizes £2.5M Seed Round to Target Challenger Bank Market

SaaScada, the Cloud native Core banking platform provider, recently announced it has secured £2.5 million in seed funding “from over ten investors – including leading figures from the banking and private investment sectors.” The SaaScada Cloud native platform “allows Fintechs and challenger banks to launch… Read More

Digital Banking Platform N26 Explains Why it May Have to Block Certain Accounts

Every banking platform has an “important” duty to combat financial crime, and N26 claims that it is “no different.” As a fully-regulated bank, this is “not just a responsibility, but a legal requirement for [them] to do so,” the N26 team noted in a blog… Read More

Nordic Fintech Challenger Lunar Introduces Payments Solution for Digital Commerce Platforms

Lunar, a Nordic-based Fintech firm, has introduced a solution to allow its business clients to accept and keep track online payments. Lunar’s solution is reportedly built into its business account and aims to address the growing digital commerce client base. Lunar’s business clients using a… Read More

HMBradley Shares Notice About Recent Cybersecurity Incident

The team at HMBradley reveals that they recently detected a cyberattack on their systems. In this type of attack, often referred to as a “credential stuffing attack”, the perpetrator attempts “to gain access to a customer’s account using login credentials illegally obtained from another source.”… Read More

Digital Banking Platform N26 Says it Will be IPO Ready by End of Year

Germany’s banking challenger N26 should be ready for an initial public offering (IPO) by the end of this year, according to co-CEO Maximilian Tayenthal, Maximilian told CNBC that by the end of 2022, N26 should be “structurally IPO-ready,” During an interview with the media outlet… Read More

Iceland based Challenger Bank indó Acquires $4.5M in Seed Funding

indó, an Icelandic Fintech focused on the consumer virtual banking space, has announced that it is emerging from stealth mode with $4.5 million in seed funding. indó is reportedly the first challenger bank to launch in Iceland. The motivation behind indó was the 2008 financial… Read More

Digital Banking: Revolut Is Making it More Affordable to Send Money Abroad, and Save with New Vault Product

The team at digital bank Revolut has noted that they hear about exchange rates all the time. The company has commented on what they actually are and why they can be very important. As explained by Revolut, foreign currency exchange rates are a way to… Read More

UK’s Starling Bank Launches Campaign to Get Business Owners to “Break Free” from Traditional Banks

UK’s digital bank Starling has reportedly launched a new advertising campaign that “encourages small business owners to break free from their incumbent bank.” As mentioned in a release, the campaign, created specifically for Starling Bank by Wonderhood Studios, is the second “under Starling’s new platform… Read More

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