One of the more unique offerings by some fintechs in the US is earned wage access; the feature aims to...
Challenger banks, including Virgin Money, TSB and Metro Bank, are seeing a market that is becoming more crowded by the day and profit margins in lending areas are being trimmed; mortgage rates coming down and customer acquisition costs going up are two of the main reasons for these worries; pricing in consumer credit has also forced some of these banks to pull out of that segment all together as competition has become too much; the newest space entrants, like Atom, Monzo and Starling, are only adding to the heated environment; Richard Iferenta from KPMG explains to the Financial Times, "The challenge is, if you want to build a bank, how do you get sufficient scale, attract a big customer base, and make a lot of money."; one group who is particularly benefiting is the consumer, they are seeing prices come down and new innovative products hit the market that are helping them to better understand their finances. Source
European challenger bank Revolut announced today that it will enter the US market with crypto trading services through a partnership...
A new report by ratings agency Fitch says digital banks could be more vulnerable than traditional banks in the event...
It is not very often that there is an intersection between alpacas and fintech but we learned today that Monzo...
One of the challenges for the challenger banks like Monzo, Starling and Revolut is to go beyond the young demographic...
The UK fintech sector has shaken off the worries of Brexit to take in the second highest amount of capital from VC’s in 2017; they have overtaken China and only trail the US in terms of VC funding; according to data from Innovate Finance UK fintech investment was up 153 percent in 2017 from the year earlier; 24 per cent went into challenger banks, 21 percent into money transfer and foreign exchange, 17 percent into alternative lending and financing and 11 percent into personal finance/wealth management; VC investment globally reached $14.4bn across 1,824 deals, representing an 18 per cent decrease from 2016. Source.
Millennials are one of the largest target markets for digital only banks as they attempt to cut into the dominant...
N26 said they are furloughing 10 percent of their staff, cutting back on advertising spending and reconsidering their planned launch...
The onset of the current crisis has many in the fintech community nervous for what the future holds; some companies...