Spanish sustainability fintech Mitto to launch in UK next year
“Every payment counts and determines the world we live in.”
Challenger Bank
Video: Top fintech stories this week – 28 August 2020
FinTech Futures’ weekly news round-up.
Lunar picks Nordic API Gateway to enable account aggregation
Danish challenger bank claims to be pioneer with new service.
Zopa launches its first fixed-rate savings accounts
The range of accounts pay 1.05%, all the way up to 1.3%.
JP Morgan to launch digital lender in UK early next year
The new cloud-based venture will sit under the Chase brand.
Atom Bank plans £150m shareholder funding round
UK challenger bank aims for largest shareholder round to date.
Manzil launches Halal Visa card in partnership with Koho
Canadian firms partner up to debut new card.
N26 loses chief product officer Georgina Smallwood
Smallwood departs N26 to join a Berlin scooter firm.
John Legend-backed challenger Cred.ai runs beta in US
The fintech has built its own underwriting which it intends to outsource.
UK challenger bank Chetwood quietly lands another £10m
“If it wasn’t for COVID-19, we’d be well on our way to turning a profit.”
Banking offering for landlords Zibo lands $10.5m
Zibo is a fintech for the “underserved landlord”.
Business banking challenger Wise launches premium account in US
The Californian challenger piggy backs off BBVA.
US challenger Purple to tap America’s disabled community
The fintech allows users to receive disability benefits up to two days early.
N26 outed for 2019 data breach, employees ask for works council
Around 300 of N26’s 1,500 employees should have access to unencrypted data.
Starling Bank losses doubled to £52m
The company hired hundreds of employees and focused on attracting new customers.
UK challenger sync. reveals £5.5m seed round
The fintech was forced to delay launch due to COVID-19.
Greek fintech Viva Wallet officially becomes a bank
The Attica-based start-up acquired Praxia Bank’s banking licence on 3 August.
Spanish challenger Bnext lands another €11m
The new capital adds to its already closed €22.5 million last October.
Timing is everything: launching a bank amid COVID-19
“We never planned to launch a bank during a global pandemic,” says the CEO of Monument.
Finndon commits £2m investment towards FCA authorisation
The challenger aims to launch in the first quarter of 2021.
Varo receives US national bank charter
Varo Bank will serve as the firm’s new banking arm, with Varo Money becoming its holding company.
New US challenger bank Simba plans to support migrant communities
Simba is built for those “who came to the US seeking financial freedom”.
Monzo’s losses widen due to COVID-19
Bank admits that the pandemic casts “significant doubt” on its ability to continue operations.
AMTD Group teams with SME partners ahead of Singa Bank’s launch
AMTD is yet to land a licence to launch the bank.
WeLab Bank launches in Hong Kong
The challenger is offering users a numberless debit card.
India’s large FIs “don’t believe in their youngsters” says Slice CEO
“All the banks see is risk,” Slice’s CEO Rajan Bajaj tells FinTech Futures.
Law firm owner co-founds challenger Frost rivalling Snoop
It is currently applying for a banking licence with the Financial Conduct Authority (FCA).
Emirates NBD’s challenger Liv moves to ‘super app’ status
The challenger said it had acquired more than 300,000 users.
Orange Bank Africa goes live with Temenos and NSIA in Côte d’Ivoire
The bank is set to expand to Burkina Faso, Mali and Senegal.
Bueno bank aims to target Spanish holiday homeowners
Bueno promises a range of services to manage second homes.
UK challenger The Reserve postpones launch due to COVID-19
The Reserve is built green “from inception”.
Italy’s Banca Mediolanum launches sustainable challenger Flowe
The bank currently employees a team of 56.
State-backed green bank to land in UK to hit country’s climate goals
The government sold its original green bank in 2017.
Monese and Paysafe sign digital banking partnership
Monese customers are able to use Paysafecash with their accounts.
B-North boosts risk assessment with Wiserfunding deal
SME challenger picks Wiserfunding to support its risk grading.
Viva Wallet selects ClearBank as UK banking provider
Viva Wallet bought a Greek neobank back in January.
Metro Bank snaps up former Co-operative chief risk officer
Richard Lees will join Metro after four years at his current employer.
Savings app for first-time house buyers Nude is raising £3.5m
The start-up is applying for a UK banking licence.
Web browser Opera to buy digital challenger Fjord Bank
In December 2019, the digital challenger landed a specialised bank licence.
SoFi files banking charter application with OCC
The $4.3 billion fintech wants to take another crack at banking.
