AltFi takes a look at overdrafts in the digital banking market, both arranged and unarranged; their research found that Starling...
UK based digital bank OakNorth reported an annual profit of $149mn, becoming the first digital bank to do so; in their second year of full operations the bank has seen their loan book triple in size and deposits double in size; Rishi Khosla, OakNorth chief executive, told the Financial Times, “we build them for profit and on strong foundations so as you grow you’re scaling a real business rather than what happens to a lot of fintech where you just keep building for top-line or number of customers, but don’t necessarily have the strongest business model.” Source.
BVNK, a London-based crypto-to-fiat banking platform, said on Thursday that it had raised $40 million in a Series A funding round led by Tiger Global.
The Sunset Card- co-designed between Payne and Revolut- follows other similar-type Revolut limited edition card collaborations which include one with Anthony Joshua.
Caroline Pham, the Commissioner of the CFTC, recently talked elaborately about the regulator’s plans for cryptocurrency regulations.
P2P-banking.com has released its monthly report on marketplace lending originations; top lenders for the month included Funding Circle with EUR 142.3 million ($151.56 million), Zopa with EUR 101.6 million ($108.21 million) and RateSetter with EUR 65.4 million ($69.66 million); during the month both Mintos and Moneything reached new origination milestones since inception; the report does not include data from US lenders. Source
The challenger bank will be a standalone digital bank aimed to compete against Monzo and Revolut; according to Sky News, the project is so confidential that very few people are familiar with the project internally; sources state that Mark Bailie, the bank’s former COO is leading the new venture with tens of millions of pounds of backing for the new platform. Source
Multiple financial market regulators within the European Union released a joint warning statement on Thursday against crypto-assets, saying many of them are “highly risky and speculative.”...
Revolut announced the acquisition of ePOS software provider Nobly POS to expand its offering to serve the restaurant and hospitality sectors.
CODIX examines reasons why organizations withhold plans for replacing their IT solutions, why they must replace, and when it is the right time to change in their white paper. Source