Revolut announces record $545m profit for 2023
Revolut’s revenue surged by 95% over the year, from $1.1 billion in 2022 to $2.2 billion in 2023.
Challenger Bank
News, intelligence and resources on the global fintech industry including topics such as challenger banks.
UK challenger Atom Bank hires Gareth Jones as new chief risk officer
Jones is to replace Chris Sparks, who is set to retire after nine years at the company.
FinTech Futures: Top five news stories of the week – 28 June 2024
Our pick of the top fintech news stories this week includes Klarna, iBusiness Funding, Norm Ai, Nubank and more.
June 2024: Top five M&A deals of the month
FinTech Futures takes a look back at five of the top M&A deals in June.
Brazil’s Nubank buys AI-powered data intelligence start-up Hyperplane
Nubank plans to harness Hyperplane’s AI expertise to enhance its core machine learning capabilities.
Bank Midwest launches new digital bank for US healthcare industry powered by Finastra
Bank Midwest says OnePlace.bank will be “a natural progression” of its OnePlace Capital division.
June 2024: Top five new fintech launches of the month
FinTech Futures takes a look back at five of the top new launches in June.
FinTech Futures: Top five news stories of the week – 21 June 2024
Our pick of the top fintech news stories this week includes Sainsbury’s, Viva Wallet, Laybuy and more.
Revolut launches bond investing in partnership with UAE’s GTN
Bonds join Revolut’s investment offering of ETFs, and US and EEA shares.
Société Générale sells neobank Shine to Danish fintech Ageras
Société Générale has been looking for a buyer for Shine since January.
Atom Bank’s operating profit climbs 600% after “best year yet”
The UK challenger recorded an operating profit of £27 million last year.
FINMA pulls the plug on FlowBank as bankruptcy proceedings commence
The Swiss regulator has found the challenger bank to be in a “serious breach of supervisory law”.
South Africa’s TymeBank plots $150m Series D round ahead of 2028 IPO
TymeBank expects to complete the round in Q4, with hopes of achieving unicorn status.
Starling Bank reports 50% revenue rise in third year of profitability
The performance comes ahead of Raman Bhatia’s instalment as group CEO this summer.
Interview: Agata Strzelecka, VeloBank – a modern bank with fintech DNA
Agata Strzelecka shares first-hand experience and lessons learnt from transforming a bank and attracting investors.
FinTech Futures: Top five news stories of the week – 7 June 2024
Our pick of the top fintech news stories this week includes Visa, Monzo, JP Morgan Payments, Funding Circle and more.
Boost Bank officially launches its digital banking app in Malaysia
Boost Bank secured regulatory approval from Bank Negara Malaysia and the Ministry of Finance earlier this year.
Dutch neobank Bunq enters partnerships with Mastercard and Nvidia
The bank is utilising Mastercard’s open banking platform and Nvidia’s accelerated computing and AI capabilities.
Asia’s first full reserve digital bank, ORO Bank, launches in Bhutan powered by Finastra
The bank has partnered with Finastra to leverage its Essence solution in the cloud.
Monzo records first full year of profitability as it eyes international expansion
Monzo has reported a profit before tax of £15.4 million, compared to its £116.3 million loss in FY2023.
Business banking start-up GoDutch launches in the Netherlands
The start-up is aiming to “revolutionise business banking by redefining what ‘fair banking’ truly means”.
May 2024: Top five funding rounds of the month
FinTech Futures takes a look back at five of the top funding rounds to emerge during May.
UK challenger SilverRock lands banking licence with restrictions from PRA following £50m raise
The new bank says it plans to start lending “later this year”.
N26 fined €9.2m by BaFin over late submission of suspected money laundering reports in 2022
N26 says it has implemented “numerous measures to further improve reporting processes” since 2022.
Turkey’s Colendi reportedly raises $65m Series B funding led by Citi
According to Bloomberg, the round takes the fintech’s valuation to around $700 million.
Mercado Pago enters talks with regulators for banking licence in Mexico
Mercado Pago GM Pedro Rivas says the firm’s ambition is to become “the largest 100% digital bank in Mexico”.
Demystify Podcast: The growth of fintech in the UAE – Dubai Fintech Summit special
Dave and Dharm speak with four financial services leaders at this year’s Dubai Fintech Summit.
Alpian’s $83m Series C round sees Intesa Sanpaolo’s Fideuram become majority shareholder
Fideuram first made a $20 million investment in Alpian back in 2022.
UK challenger Chetwood Financial acquires lender CHL Mortgages for Intermediaries
Chetwood states that the purchase will complement its forthcoming ModaMortgages proposition.
UK challenger GB Bank lands £85m investment
The bank projects that the new investment will allow it to increase its lending to £500m over the next year.
ICYMI fintech funding round-up: Ekko, Layer, MNZL, Panax and more
A handy round-up of the recent funding endeavours of fintech companies across the globe.
French fintech Lydia launches digital banking app Sumeria
Lydia says it plans to pump over €100 million into Sumeria over the next three years.
UK challenger Tandem appoints Suavek Zajac as new CTO
Zajac’s most recent positions include serving as CTO at Blackberry and the UK-based fintech Railsr.
TerraPay appoints network head amid new partnership with MultiPass
Hassan Chatila has been named as VP and global network head, joining from Western Union.
A1 Bank goes live with Avaloq’s core banking platform
The implementation of the platform was carried out by Avaloq’s partner Synpulse.
FinTech Futures: Top five news stories of the week – 10 May 2024
Our pick of the top fintech news stories this week includes Monzo, NAB, GoTyme Bank, and more.
Ecology Building Society set for 2025 core banking overhaul with Monument Technology
Ecology Building Society says technology modernisation will help “attract future customers at pace and scale”.
Monzo secures additional $190m funding from new and existing investors
The digital challenger had previously raised $430 million in March.
Dubai Fintech Summit 2024: How the UAE is fostering fintech innovation
There is a huge sense of urgency, commitment and purpose behind fintech in the UAE.
Digital challenger GoTyme Bank acquires salary lender fintech SAVii
GoTyme Bank’s acquisition claims to serve over 500,000 employees across 150 Philippine enterprises.
