Tagged: challenger bank

Revolut Update Adds Savings Vault, Users Save Spare Change Automatically, Including Cryptocurrency

Revolut’s newest feature Vaults a saving enabler that allows users to round up and save their spare change from everyday purchases. The service is available for any of Revolut’s 25 supported fiat currencies as well as the popular digital currencies Bitcoin, Ether and Litecoin. Revolut say… Read More

Adam Dell’s Clarity Money is Acquired by Goldman Sachs to be Integrated with Digital Bank Marcus

Goldman Sachs Bank USA has acquired Clarity Money a Fintech founded by CEO Adam Dell. Clarity Money is an app based service that helps consumers better manage their personal finances with machine learning and intuitive design to provide actionable insights. The robo-advisor claims over one million… Read More

Zopa is Raising £50 Million, Shuffles Board as it Preps for Bank Launch

The grande dame of peer to peer lending in the UK, Zopa, is raising £50 million at a valuation of £400 million, according to several reports.  SkyNews states this most recent funding round will be led by current investors including Wadhawan Global Capital out of… Read More

The World is Going Cashless & Digital Challenger Bank Revolut Wants to Lead the Way

Cash is king no more. Today’s society is all about mobility and the digitization of all forms of finance. How consumers spend and manage their money has changed dramatically in recent years and that pace of change is accelerating. Revolut is a new breed of… Read More

Tandem Debuts Three Fixed Saver Accounts

On Wednesday, challenger bank Tandem announced the launch of three fixed saver accounts. The bank reported that the launch of the accounts gives “savvy savers” the chance to put money aside in their own virtual treasure chest. The debut of the fixed saver accounts comes less than… Read More

Challenger Bank CivilisedBank Plans to Release Current Banking License to Focus on Technology Platform

CivilisedBank, UK-based challenger business bank with a Local Banker network, announced on Friday it will release its current banking license to give more time to develop its technology platform before reapplying for a new license According to the bank, the PRA and the FCA are… Read More

Challenger Bank Monzo Ends Prepaid Beta

UK-based challenger bank Monzo announced on Wednesday it is set to close its Prepaid Beta, which was launched in March 2016 to make sure the bank was “building something” that consumers actually needed. While sharing details about its growth since the Beta’s launch, Monzo stated:… Read More

Challenger Bank TSB Announces Plans to Create Lending Marketplace For UK Small Businesses

UK-based challenger bank TSB announced this week it is preparing to launch a new lending marketplace with a mission help small businesses across the UK get the funding their need to continue growth. The bank is partnering with Funding Options to launch the marketplace this… Read More

Banco BNI Europa Debuts Online Account Opening Process Through Video Conference

Challenger bank Banco BNI Europa announced on Tuesday the launch of its new online account opening process through video conference. The company reported that this new process also introduces an innovative system of documents signature with a qualified digital certificate and is available for Portuguese citizens… Read More

Overfunding: Digital Only Bank Startup Fiinu Secures £500,000 Funding Target on Seedrs

App-only banking start-up Fiinu, has successfully secured its initial £500,000 funding target through its equity crowdfunding campaign on Seedrs. The initiative was launched last month and sought the funds for a 6.67% equity stake at a pre-money valuation of £7 million. As previously reported, the aspiring digital… Read More

Money App Yolt Announces Collaboration With Challenger Bank Monzo

Yolt, an ING created smart thinking money app, announced on Friday it has joined forces with UK-based challenger bank Monzo. Yolt declared that Monzo accounts may now be connected through the fintech mobile app. “While Monzo focused on current accounts and we focused on our topbar… Read More

Challenger Bank Masthaven Teams Up With Intrinsic Financial Services to Expand Distribution

UK-based challenger bank Masthaven announced on Wednesday it has teamed up with financial service provider Intrinsic to expand distribution and enable more brokers to access to its products. Launched as a retail bank in 2016, Masthaven now offers savings and lending products. It has also… Read More

Australian Challenger Bank Tyro Launches Tap & Save Feature to Allow Merchants to Save Money By Processing Debit Tap-And-Go Payments

Tyro, an Australia-based challenger bank, announced last week the launch of its new feature, “Tap & Save.” According to the fintech startup, Tap & Save allows merchants to save money by processing debit tap-and-go payments through the more economical eftpos network. Tyro reported that Tap &… Read More

Monzo Milestone: Challenger Bank Hits Half A Million Current Accounts (Video)

On Monday, UK-based challenger bank Monzo announced it has achieved half a million current accounts. The company launched its current accounts in October last year and since then, thousands of users have upgraded their accounts or signed up to start using Monzo’s banking products. “This… Read More

Digital Bank Revolut Introduces Automatic Payments Across Europe

Digital challenger bank Revolut has announced EUR Direct Debits or European customers thus facilitating direct debits for automated payments. The traditional bank alternative now facilitates easy monthly payments such as  phone bills, utilities and other regular services. Revolut points out they already allow European customers… Read More

Virgin Money Set to Launch New Digital Bank

Virgin Money, a financial firm under Virgin that offers savings, mortgages, credit cards, current accounts, currency services, pension, investments, and protection products to customers across the UK, has reportedly spent a total of £38.3 million over the last year to develop its brand new digital… Read More

Tandem Set to Return to Seedrs For Additional £4 Million

Digital challenger bank Tandem founder Ricky Knox announced last week the bank will be returning to Seedrs, seeking to raise £4 million. This news comes one month after the company completed its acquisition of Harrod’s Bank. As previously reported,  Tandem was granted authorization to be regulated back in… Read More

BinckBank to Disrupt Dutch Savings Market with Raisin Partnership

BinckBank N.V.  is poised to disrupt the Dutch savings market as the online bank will be the first to offer its clients access to European savings products via a partnership with Raisin. BinckBank serves more than 614,000 account holders with assets of € 22.7 billion as of… Read More

Fiinu, Digital Only Bank Startup, Seeks £500,000 Crowdfunding on Seedrs

App-only banking start-up Fiinu, has launched an equity crowdfunding campaign on Seedrs. The offer seeks £500,000 for a 6.67% equity stake at a pre-money valuation of £7 million. The aspiring digital challenger bank wants to throw its hat into the ring of Fintech firms competing… Read More

Challenger Bank Penta Raises €2.2 million Seed Funding One Month After Launch in Germany

Berlin based Penta, a challenger bank for startups and businesses, has raised €2.2 million in seed funding just one month after launching in Germany. The investment round was led by Inception Capital, a Fintech focused VC based in the UK. Penta is a partner of Berlin… Read More