Tagged: digital bank

Following Critical BBC Report Regarding Frozen Accounts, Digital Bank Monzo Responds

Yesterday, the BBC program “Watchdog Live” reported on alleged problems at digital bank Monzo where customers have been blocked from accessing their accounts. “we’ve been contacted by quite a few customers saying they have had their accounts frozen with no explanation, so all of a… Read More

UK-based Fintech Starling Bank Launches New Online Banking App for Business Clients

London-based digital bank Starling Bank has introduced a new online banking app that allows its business clients to manage their funds more efficiently, according to a release. In addition to providing a mobile banking application, Sterling Bank offers a debit card that allows users to… Read More

SME Focused Digital Bank Penta Tops 10,000 Business Customers

Berlin based digital bank Penta has announced that after only 18 months of operation it has acquired over 10,000 business customers. User numbers have increased over 200% in the past two months, according to a release. Penta is a partner of Berlin-based solarisBank. In August,… Read More

Revolut Adds Free Stock Trading for Premium and Standard Customers

Today, digital bank Revolut has announced the addition of free stock trading for both Standard and Premium customers. The feature is rolling out in 26 different markets including: Austria, Belgium, Bulgaria, Croatia, Cyprus, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Ireland, Italy, Latvia,… Read More

Sweden: Fintech Northmill Receives Bank License from SFSA

Europe’s Newest Digital Bank Northmill, a Fintech based in Stockholm, Sweden, has just received a banking license from the Swedish Financial Supervisory Authority (SFSA or Finansinspektionen). Northmill was founded in 2006 and is “building the bank of tomorrow.” According to a blog post, Northmill applied… Read More

Cross Atlantic Crowdfunding Offering: Arival Bank Closes at USD $ 2.145 Million on SeedInvest – Crowdcube

Arival Bank, a digital-only challenger bank, has closed its crowdfunded bridge round (preferred equity) on SeedInvest-Crowdcube. Arival is the creation of a VC firm based in Singapore that claims 20 investments & multiple exits. The securities offering was a cross-Atlantic crowdfunding offering via the two… Read More

Report: Fintech Ping An May Pursue Singapore Digital Bank License After Receipt of Hong Kong Virtual Bank Approval

Late last month, the Monetary Authority of Singapore (MAS) announced it has begun accepting applications for digital bank licenses. The new banking licenses are only for aspiring non-bank Fintechs. MAS leadership explained that virtual banks will help assure the banking sector remains resilient and competitive… Read More

Revolut Expands into Portugal with New Customer Operations Center in Porto

Digital bank Revolut is expanding into Portugal with a new customer operations center in Porto. The company reports that it will hire up to 400 new employees at the new location. Ricardo Macieira, an ex-Airbnb executive, and Rebeca Venancio, formerly at Microsoft, have been appointed… Read More

N26 Moves Out of Beta & Fully Launches to U.S. Consumers

Less than a month after it opened its platform in the U.S., digital-only banking group N26 announced it has made its mobile banking app available to U.S. consumers nationwide. Starting today, U.S. residents may now download the app and apply for an N26 account and… Read More

Digital Banking: LendingClub Gets Some Fintech Love as it Pursues National Bank Charter

Shares in LendingClub (NYSE:LC) are rising during another down market day as the trade war with China has no end in sight and political tempers flare. Shares are currently trading over 10% higher following yesterday’s Q2 earnings report where LendingClub said it expected to finally… Read More

N26 Digital Bank Invites Start Rolling Out to US Customers

Digital-only bank N26 has opened up its platform to US customers and is sending out invites to download the App and receive an N26 card now. N26, based in Germany, is one of a group of European digital banks crossing the Atlantic to provide services… Read More

Fintech Betterment Becomes More Like a Bank, Adds FDIC Insured Checking & Savings

Fintech Betterment is pushing further into the traditional banking realm. The digital-only platform is will soon offer “Betterment Everyday” which includes an FDIC-insured checking and savings product that will have no account fees, overdraft fees, minimum balances or monthly maintenance fees. The checking service will… Read More

Digital Bank MoneyLion Raises $160 Million

MoneyLion has raised $160 million in funding. MoneyLion previously revealed $60 million of this amount but has since added $100 million as part of Series C funding round. MoneyLion is an entrant in the hot challenger bank marketplace. It provides its banking services via a… Read More

In Advance of Full Banking License, Fintech Zopa Looks to Raise $235 Million

Zopa, the first peer to peer lender to launch in the UK and the only platform to have actually experienced a recession, received a provisional bank license in late 2018 as it looks to transition from an online lender and investment platform to a digital… Read More

UK based Digital Bank Monzo Launches in US, Partners with Licensed Bank to Provide Services

Digital challenger bank Monzo has crossed the Atlantic and entered the US marketplace. On the same day competitor Revolut announced an expansion into Australia, Monzo announced banking services in the US in a release and a blog post. A signup form is available on the… Read More

Starling Bank Celebrates Second Anniversary

UK-based digital banking platform Starling Bank recently celebrated its second anniversary. Founded in 2014 and officially launched in 2017, Starling Bank describes itself as a UK mobile-only bank that offers personal, joint, and business accounts. The app allows users to “take the stress out” of… Read More

Update: dozens Now Nearing £3.8 Million Through Seedrs Funding Rounds

dozens, a “new banking and wealth management alternative,” is now nearing £3.8 million through its equity crowdfunding campaign on Seedrs. The round, which was launched last month, originally sought to raise £3.5 million and has attracted more than 2,000 investors. As previously reported, dozens describes… Read More

Digital Banking Platform 2gether Makes Prepaid Visa Card Available to Use in Eurozone Countries

Digital banking platform 2gether announced on Wednesday users will be able to use 2gether’s prepaid Visa card in any of the 19 eurozone countries. The company revealed: “2gether’s prepaid Visa card allows users to convert cryptocurrency to euros, and to spend those euros anywhere Visa… Read More

UK Challenger Bank Redwood Surpasses £100 Million Lending Milestone

UK-based challenger bank Redwood has reportedly surpassed £100 million in lending. As previously reported, Redwood is considered one of the newest additions to the future of banking, joining peers such as Monzo, Starling, Revolut and more. Redwood is on a mission to target the SME… Read More

Sberbank Announces Online Service Sberbank Cash Transit

Russian banking group Sberbank announced on Friday the launch of its new online cash transit services, which allows users to make existing cash transit agreements. According to Sberbank, the advantages of the group’s cash transit services include the following: Reliable partner with the widest coverage Funds are… Read More

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