challenger banks

·Mar. 26, 2019

UK Fintechs React to Apple’s Credit Card Launch

Apple announced more details about their card partnership with Goldman Sachs yesterday and the news provided a number of interesting...

Read Full Story

Fintech News Roundup USA

·Mar. 3, 2020

Recapping the Entrance of N26, Revolut and Monzo into the US Market

The leaders in the digital banking space in Europe are all looking to capitalize on the US market; however, the...

Read Full Story

Europe Fintech News Roundup

·Aug. 30, 2017

Redwood Bank Launches Challenger Bank in the UK

UK-based Redwood Bank has launched digital banking services after obtaining a banking license for business in the UK; Redwood Bank is the first bank with a 100% cloud-based infrastructure and will offer SME mortgages for business owners and professional landlords as well as a 35-day business savings account; Redwood Bank is wholly-owned by Redwood Financial Partners Ltd. which is controlled primarily by Warrington Borough Council with a 33% ownership stake; the newly launched bank is covered by the UK's Financial Services Compensation Scheme (FSCS) which protects customers' eligible deposits of up to a total of GBP85,000 ($109,846). Source

Read Full Story

Fintech News Roundup USA

·May. 12, 2020

Digital Banks Well Positioned for Success Post Covid

The current pandemic has upended the financial services industry more in the last two months than fintech has in the...

Read Full Story

Europe Fintech News Roundup

·Apr. 3, 2017

Jaidev Janardana on Zopa’s Banking Endeavor

Zopa's Jaidev Janardana spoke at AltFi Europe this week on the firm's plans for building a bank; he provides insight in a blog post; the bank will build on Zopa's successful track record in lending with new savings accounts and credit product but the firm will not offer a current account; the UK has been dominant in challenger bank development and the Zopa bank will provide UK customers with another alternative banking option which is currently in high demand in the region; the above chart highlights the competitive advantages Zopa has in the market. Source

Read Full Story

Europe Fintech News Roundup

·Apr. 7, 2017

Monzo Announces Banking License Approvals

Monzo has received a full banking license from the Bank of England's Prudential Regulation Authority and the Financial Conduct Authority; the licensing follows new fundraising that meets the banking capital requirements; it now plans to launch a current account and a current account overdraft product. Source

Read Full Story

Fintech News Roundup USA

·May. 7, 2020