Articles with tag: challenger

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Zilch, Credit Kudos partner for Buy Now Pay Later credit assessment

15 Oct 2020 | Online & Mobile Banking

Buy Now Pay Later (BNPL) provider Zilch has partnered with challenger credit reference agency and Open Banking provider Credit Kudos to better assess affordability of its customers. 

Zilch, Credit Kudos, Buy Now Pay Later, BNPL, credit assessment, challenger, credit reference agency, open banking, affordability, alternative credit, instalments, credit, UK, pandemic, BNPL Mastercard, online retailer, payments

British consumers to prefer platform banking, study

09 Oct 2020 | Online & Mobile Banking

Deposit Solutions have realised a report showcasing that most British consumers want as few financial services providers as possible. 

UK, United Kingdom, platform banking, Deposit Solutions, financial services, financial simplicity, incumbent banks, challenger banks, financial services, Europe, marketplace

UK digital banking surge fuelled by Brexit and pandemic

02 Oct 2020 | Online & Mobile Banking

Digital banking has experienced an unprecedented surge since Brexit and the pandemic, according to deVere Group staff cited by FinTech Magazine.

UK, digital banking, Brexit, pandemic, online banking, surge, deVere Group, cashless banking, post-Brexit, climate change, pandemic, challenger bank apps, digital banking apps, currency changes, money transfer, deposits, disruption

Yandex agrees on USD 5.5 billion deal for Russian challenger Tinkoff Bank

23 Sep 2020 | Online & Mobile Banking

Russia-based fintech Yandex has agreed on a USD 5.5 bln deal to acquire online bank Tinkoff.

Yandex, Tinkoff, challenger bank, banking, online bank, digital bank, fintech, financial technology, mergers and acquisitions, acquisition, Russian Federation, Russia

Ziglu opens crowdfunding round

21 Sep 2020 | Cryptocurrencies

Challenger and FCA-authorised Electronic Money Institution Ziglu have opened a crowdfunding round to the public. 

Ziglu, crowdfunding, challenger, FCA, authorisation, Electronic Money Institution, product development, global challenger, investors, crypto exchange, cryptocurrency, p2p payments, digital payments, UK account, digital assets, cyber-attacks, fiat currencies, 5th money laundering directive, crypto assets

European FIs prioritising investment in compliance-related use cases, Tink research finds

16 Sep 2020 | Payments General

Financial institutions are prioritising investment in use cases that deliver immediate value to their business, according to data published by Tink.

digital identity, challenger banks, PSPs, banking services, KYC process automation, SCA, compliance, investment, open banking, Tink

Credit Suisse to roll out digital banking app

10 Sep 2020 | Online & Mobile Banking

Credit Suisse has announced plans to launch a digital banking app in October 2020 to challenge fintechs like Revolut in the Swiss bank’s home market.

Credit Suisse, digital banking, digital banking app, Revolut, N26, Switzerland, Swiss, banks, fintechs, challenger, digital wealth management, foreign transactions, CSX, banking app, online banking, traditional banking, incumbents

Tandem retires paid Cashback Credit Card membership

04 Sep 2020 | Cards

UK-based Tandem Bank has made an announcement to its members about the GBP 5.99/month Cashback Credit Card, telling them the card is shutting down.

Tandem Bank, credit card, cashback credit card, UK, United Kingdom, challenger bank,

InComm, US challenger bank Current to support cash deposits at over 60,000 retail locations

02 Sep 2020 | Ecommerce

InComm has teamed up with Current, a US-based challenger bank, to support bank members to make cash deposits to their bank accounts at large brick-and-mortar retail chains across the country.

InComm, VanillaDirectTM platform, barcode, mobile app, retailers, commerce, payments, partnership, challenger bank,

Cynergy Bank bids for GBP 10 mln from the Banking Competition Remedies

31 Aug 2020 | Payments General

Cynergy Bank has applied for a GBP 10 mln grant from Pool B of the Banking Competition Remedies (BCR).

Cynergy Bank, UK, fintech, challenger bank, digital bank, Banking Competition Remedies, banking, payments,

JP Morgan to launch digital banking services for the UK in 2021

24 Aug 2020 | Online & Mobile Banking

US-based bank JP Morgan has reportedly planned to launch a digital bank under the Chase brand in the first quarter of 2021, according to AltFi.

JP Morgan, banking services, UK, United Kingdom, US, Chase, digital bank, digital banking, Finn, mobile bank, coronavirus, challenger bank, Goldman Sachs, Marcus, digital offering, Starling, Monzo, Revolut

Nordic challenger bank Lunar selects open banking from Nordic API Gateway

20 Aug 2020 | Online & Mobile Banking

Challenger bank Lunar has selected open banking platform Nordic API Gateway to create value-added, multi-banking features to its customers.

Nordics, fintech, open APIs, PSD2, challenger bank, Lunar, open banking, Nordic API Gateway, innovation

Holvi leaves UK following Brexit and Covid-19 uncertainty

13 Aug 2020 | Online & Mobile Banking

Finland-based challenger bank Holvi has announced plans to officially exit the UK market on 31 October 2020, a date that echoes the UK’s initial departure date from the EU. 

Holvi, UK, United Kingdom, Brexit, covid19, EU, coronavirus, regulatory landscape, fintech, Mastercard, Holvi accounts, SME, digital bank, challenger bank, Finland, Berlin, Helsinki

Challenger bank Current launches points reward program for debit card users

06 Aug 2020 | Cards

US-based challenger bank Current has launched a program that will offer points-based rewards to its checking account customers. 

mobile bank, banks, Current, debit cards, cards, challenger bank, US, merchants

DayTek Capital receives Australian banking licence

04 Aug 2020 | Online & Mobile Banking

Australia-based neobank DayTek Capital has been awarded an Australian Financial Services Licence (AFSL) by the Australian Securities and Investments Commission

Australia, challenger bank, banks, DayTek Capital, banking, banking licence, neobank, Australian Financial Services Licence, AFSL, Australian Securities, Investments Commission, Infinity, cards, fintech, Restricted Authorised Deposit Taking Institution Licence, RADI, Australian Financial Compensation Scheme, Australian Federal, Qeensland State

Monzo's annual losses double due to the pandemic

31 Jul 2020 | Online & Mobile Banking

UK-based digital bank Monzo has announced its annual losses more than doubled and warned its ability to continue operating had become more uncertain due to the pandemic.

Monzo, UK, digital bank, digital, banks, pandemic, coronavirus, COVID-19, startup, US, challenger bank, cards, Monzo Plus

Tide teams up with DueDil

29 Jul 2020 | Online & Mobile Banking

UK-based challenger bank Tide has teamed up with UK fintech DueDil to assists with its account opening experience.

Tide, partnership, DueDil, UK, challenger bank, banks, KYC, onboarding, API

Paymentology partners with Finartix

29 Jul 2020 | Cards

UK-based fintech Paymentology has partnered with Finartex to bring data powered payments solutions to financial institutions in Greece, South Eastern Europe, Eastern Africa, Belgium, and Luxembourg.

UK, fintech, Paymentology, partnership, Finartix, data, payments, Greece, South Eastern Europe, Eastern Africa, Belgium, Luxembourg, cloud, cards, credit cards, debit cards, prepaid cards, banks, digital banks, digital, retail banks, EMIs, transactions, AI, challenger banks, technology

Challenger bank Dave affected by data breach

28 Jul 2020 | Digital Identity, Security & Online Fraud

US-based challenger bank Dave has confirmed that it was the victim of a data breach that impacted up to 7.5 million customers.

Dave, challenger bank, US, United States, data breach, Waydev, TPP, bcrypt, GitHub Oath token, FBI, Crowdstrike

Canada's prepaid industry reaches USD 5 bln in loads in 2019; drives fintech sector

14 Jul 2020 | Payments General

In Canada, prepaid has been harnessed by incumbents and new fintech entrants as a platform to introduce new and innovative digital banking and payment products and services.

prepaid cards, SMEs, fintechs, cards, banks, gig workers, challenger banks, Canada, Canadian Prepaid Providers Organization, CPPO