Tagged: savings

Survey from Fintech Lender and Digital Bank Zopa Reveals UK Millennials Aim to Save More than Senior Citizens for Emergencies After COVID-19

Nearly a third or 33% of UK residents say they were financially unprepared for the COVID-19 outbreak and resulting challenges. Around 38% of UK residents responding to a survey conducted by Fintech Zopa said they’re now preparing their savings for another potential emergency situation that… Read More

As Marcus UK Pauses New Accounts, Flagstone Says We are Open For Business, Offering High Interest Rate Savings Accounts

“Smart cash platform” Flagstone has distributed a note stating it is “business as usual” in offering new accounts for cash savings with higher interest rates. Flagstone is promoting its service while another digital savings provider, Marcus UK, has announced that it has pushed pause on… Read More

Raisin: Savings Rates Rise During COVID Even While Interest Rates Drop

Fintech Raisin has distributed a report on European interest rates. Raisin provides a service that enables consumers to compare and select higher rate return savings accounts. Raisin notes that the savings rate has risen during the COVID-19 crisis, meanwhile inflation and interest rates are down,… Read More

€43 Billion Deposited into EU Savings in March 2020, a Sign of Resilience States Report

Eurozone savers deposited €43 billion in March 2020, marking the eighth month where net inflows exceeded 40 billion euros since February 2019, according to a report by Hamburg, Germany based Fintech and open banking platform Deposit Solutions. The company’s research indicates that French savers deposited… Read More

BBVA Subsidiary Simple’s “Round-Up Rules” Automatic Savings Program Now Has More Than $1.2 Million in Customer Savings Accounts

Simple, a subsidiary of BBVA USA, announced on Friday its automatic savings program, Round-up Rules, has more than $1.2 million in customer savings accounts. According to Simple, Round-Up allows customers to have their debit card transactions rounded up to the nearest whole dollar amount, with… Read More

Not Good Enough: UK FCA Says Competition for Savers Must be Better, Interest Rates More Transparent

The UK Financial Conduct Authority (FCA) has launched a consultation on the competition for savings and ISA accounts. The FCA has previously raised concerns regarding interest rates paid to consumers who tend to remain with a financial institution even though their money may generate a… Read More

The Fed Cuts Rates by 25 Basis Points, So Does Robinhood

This afternoon, the US Federal Reserve cut its benchmark interest rate by 25 basis points. The Federal Open Market Committee decided to lower the target range for the federal funds rate to 1-1/2 to 1-3/4 percent due to muted inflation and the “implications of global… Read More

Fintech Raisin Acquires German Retirement Savings Specialist fairr in Move to Expand Services

Raisin, a Fintech that provides an online marketplace for savers seeking better returns, has acquired fairr a retirement savings Fintech. Both companies are headquartered in Germany. The acquisition by Raisin comes following a recent funding round of €25 million from Goldman Sachs. The terms of… Read More

Monzo Forms Partnership With Financial Capability Lab to Help Users Save Money

UK challenger bank Monzo announced on Thursday it has formed a partnership with the Financial Capability Lab. According to the Monzo, the Financial Capability Lab was started in 2016 by the Money Advice Service, in partnership with the government’s Behavioural Insights Team. The startup also reported that… Read More

Savings Mobile App Folio Seeks £320,000 on Crowdcube to Expand

Folio, a new savings app for the smartphone generation, has launched an equity crowdfunding campaign on Crowdcube and is seeking to raise £320,000 as it prepares to expand and bolster its marketing strategy. Founded in 2015, Folio has 4,000 users with approximately £180,000 saved. It previously… Read More

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