UK based challenger bank Monzo announced what their plans are for 2018; three specific areas they wanted to highlight were launching a feature to help customers manage bills, ending their prepare program and helping customers to switch to their payments platform; as the company continues to build out new features they said they plan to keep updating clients on a month by month basis. Source.
Monzo is taking action to be sure they will get through the current challenges related to COVID-19; the company currently...
The digital bank crossed 2 million customers after crossing 1 million 8 months ago; Monzo received their banking license two...
Though Monzo has seen a share of issues and outages recently the company says the third party marketplace is core to their vision; they also explained it was a key part of their revenue drive and will help to drive down costs per customers in the near future; Monzo have plans to expand product offerings, potentially launch in the US and build out partnerships in the near and mid term future. Source.
Monzo has become the first bank to offers its customers a free credit score service; starting in March the UK...
Monzo users might see their credit scores take a hit due to the digital bank sharing data only with TransUnion...
Many staff members at the challenger banks are working from home with Starling and Revolut opting to split staff between...
Digital only banks Monzo, Starling Bank and Monese have all see some benefits from fellow digital bank N26 deciding to...
Moody's new portal called MARQ will automate exchange of financial information between borrowers and lenders; new portal will also generate the MARQ small business credit score; score is based on Moody's RiskCalc models for analyzing private company credit risk.
Moody's has issued comments on the OCC's announcement to offer a fintech charter; says the fintech charter would help reduce legal risks from partner bank funding; focuses on the effects from the charter on partner bank funding relationships; says banks could stop relying on partner banks to fund loan originations. Source