Tagged: challenger bank

Digital Banking: Monzo, Starling, and Revolut Make it Much Easier to Open Accounts, According to a Recent Review

Many large banks in the United Kingdom appear to be falling behind their all-digital competitors when it comes to providing better overall customer service, which includes the ability to allow clients to quickly open new accounts – according to a recent review performed by Peter… Read More

SME Lender B-North Signs Up Regtech Platform TruNarrative

SME lender B-North has enlisted Regtech platform TruNarrative to provide onboarding and compliance technology, according to a company release. Reportedly, the move comes ahead of authorization by the FCA and PRA. Ahead of authorization from the FCA and PRA, B-North is set to procure TruNarrative’s… Read More

Digital Bank Monzo Announces Appointment of Former American Express Executive Sujata Bhatia As COO, Pending Regulatory Approval

Digital bank Monzo has made more personnel changes, as it continues to strengthen its executive team. Sujata Bhatia, a former SVP and general manager, Europe at Global Merchant Services at American Express, will be serving as Monzo’s new chief operating officer. Bhatia will be replacing… Read More

Amsterdam-based Banking Challenger Finom Secures €6.5 Million in Seed Funding via Round led by Target Global

Amsterdam-based banking challenger Finom, which aims to serve entrepreneurs and SMEs, has secured €6.5 million in seed funding through an investment round led by Target Global. General Catalyst, FJlabs, the Raisin founders Frank Freund, Tamaz Georgadze, and Michael Stephan also took part in Finom’s funding… Read More

Challenger Bank Zelf to Launch its own Digital Banking Software that will work only via Popular Messaging Apps like WhatsApp

Challenger Bank Zelf is reportedly planning to introduce its digital banking offering which will operate exclusively through widely-used messaging apps. The Latvian Fintech firm claims that it has already signed up more than 58,000 users, who are waiting for the official launch of Zelf’s virtual… Read More

Dutch Banking Challenger bunq Introduces Joint Accounts for Premium and Business Account Holders

European challenger bank bunq is introducing joint accounts for its Premium and Business account holders. Bunq+1 users will now have the option of opening an account for anyone they want to, which includes their partners and children. Bunq+1 business clients can create new accounts for… Read More

Mobile Banking Platform Varo Money to Accommodate Former Clients of Digital Bank Moven, which Closed its Consumer Product Offering

San Francisco-headquartered Varo Money, an established mobile banking service provider, is reportedly planning to accommodate the former clients of digital bank Moven, which recently closed down its direct-to-consumer product offering. In March 2020, Moven’s management had reported that it experienced funding challenges due to the… Read More

Starling Bank Debuts Online Tool to Help Business Customers Find Coronavirus Aid Schemes

UK-based digital banking group Starling Bank announced on Thursday it has launched a new tool that helps business customers to find the appropriate Government coronavirus support scheme for them. Starling Bank further revealed that the tool asks users a series of questions related to their… Read More

Nordic Challenger Bank Lunar Secures €46 Million in Total Funding Through Extended Series B Investment Round Led By Seed Capital Denmark

Nordic challenger bank Lunar announced on Friday it secured an additional €20 million through its extended Series B, bringing the funding round’s total amount to €46 million raised. Seed Capital Denmark reportedly led the investment round with participation from Greyhound, Socii, and Augustinus. Founded in 2015,… Read More

CO2 Free: Challenger Bank bunq Plants Trees with Green Card Launch

Netherlands based challenger bank bunq has announced a new program where its customers may become “CO2 free” in under two years simply by using the bunq Green Card. bunq SuperGreen is a program that for each €100 spent on any bunq card the company will… Read More

Los Angeles-based Banking Challenger, HMBradley, Launches Digital Banking Platform to Reward Savers

Los Angeles-headquartered banking challenger, HMBradley, has launched its own digital banking platform, which has been developed to reward savers. The bank’s clients who had been on the HMBradley waitlist will now be able to open a bank account and set up direct deposits. Users will… Read More

Monzo Launches “Monzo Business” For Web

Just a few weeks after launching its business accounts, UK challenger bank Monzo announced the launch of “Monzo Business” for web, which gives users the option to manage their business account on their computer or laptop. As previously reported, Monzo stated it spent the past… Read More

Iceland-based Banking Challenger indó Prepared to Move Out of Stealth Mode, After Securing €1 million in Seed Funding

Iceland-based banking challenger indó has secured €1 million in seed funding from several angel investors. As mentioned on its official website: “indó is the first Icelandic bank in decades. We want to make a difference by offering you 100% safe deposits. We will offer you… Read More

Challenger Bank Virgin Money Is Evaluating Plans to Shut Down Physical Branch Locations, Following Coronavirus Outbreak

Challenger bank Virgin Money is reportedly evaluating its plans to shut down its physical branch locations as lenders begin to increasingly focus on reducing the potentially negative impact of an economic downturn, resulting from the coronavirus (COVID-19) outbreak. Hundreds of jobs, which had been created… Read More

Tandem Announces Continued Support For Customers During COVID-19 Pandemic

Challenger bank Tandem recently announced its continuous support its customers during the COVID-19 pandemic. The fintech reassured the customers that while the UK is social distancing and it as a company is working from home to ensure its employees’ safety, its customer support team is… Read More

Fintech: Lanistar, an Alternative Financial Services Company, Officially Launches After Securing £2 Million in Seed Funding

Lanistar, a new challenger bank, has officially launched its platform after acquiring £2 million in seed funding. Based in Hammersmith, Lanistar reportedly has 45 full-time workers on its payroll. The digital bank plans to add 150 more staff members. The neobank has been founded by… Read More

Digital Banking: ClearBank and Temenos to Help UK’s Banks Access Real-Time Payment Services via the Cloud

Switzerland-based Temenos (SIX: TEMN), a banking software company, has teamed up with ClearBank, a challenger clearing bank (the UK’s first new clearing bank in over 250 years), in order to help local banks access UK’s payment platforms and real-time payment services in the cloud. Clearbank’s… Read More

Tandem Announces New AI System “Ada”

Challenger bank Tandem recently announced the launch of its new AI system, Ada. According to Tandem, Ada is a self-learning platform that is designed to deliver insights to add value to the baning group customers’ lives. “We have lots of information about our customers, about… Read More

Banking Challenger Judo Bank Signs $350 million Committed Facility with Multinational Financial Giant Citi

Banking challenger Judo Bank has reportedly agreed to a three-year long, $350 million committed facility with giant multinational bank Citi. This should help Judo Bank provide funding to small businesses that may be struggling to meet expenses due to the coronavirus (COVID-19) outbreak. The commitment… Read More

Monzo Introduces Business Banking Accounts

UK challenger bank Monzo announced on Tuesday the launch of its new business banking accounts. The banking group reported that it has spent the past twelve months building the account to make banking “effortless” for small businesses.  Monzo’s team explained: “We want our business accounts… Read More

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