Articles with tag: challenger bank

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Revolut applies for UK banking licence

News | Online & Mobile Banking | 12 Jan 2021

Challenger bank Revolut has submitted its application for a bank licence in the UK to the nation’s financial regulators.

Revolut, neobank, challenger bank, PRA, FCA, Brexit, banking, bank licence, EU

N26 secures banking licence in Brazil

News | Online & Mobile Banking | 08 Jan 2021

Germany-based digital bank N26 has received a banking licence from the Brazilian Central Bank, according to AltFi.

N26, Brazil, banking licence, Nubank, Germany, Brazilian Central Bank, digital bank, digital banking, fintech, credit operations, challenger bank

GPS joins Mastercard's Fintech Express Programme

News | Payments General | 17 Dec 2020

Issuer processor Global Processing Services (GPS) has been selected by Mastercard as its chosen processing partner in its Fintech Express Programme, according to the official press release. 

GPS, Global Processing Services, Mastercard, Fintech Express Programme, fintech, issuer processor, e-wallet, challenger banks

Fingerprints Cards enables Rocker's biometric payment card pilot in Sweden

News | Cards | 10 Dec 2020

Fingerprints Cards (Fingerprints) has announced it is enabling Rocker to launch the first contactless biometric payment card pilot with its customers in Sweden during Q1 2021. 

Fingerprints Cards, Rocker, biometrics, contactless, payment card, challenger bank, product launch, Sweden

Monzo receives another GBP 60 mln in funding

News | Online & Mobile Banking | 04 Dec 2020

UK-based challenger bank Monzo has closed another GBP 60 million in funding, priced the same as and effectively an extension of its previous top-up round in June 2020.

Monzo, challenger bank, funding, UK, investment, financing round, banking

Current raises USD 131 mln in series C funding

News | Online & Mobile Banking | 27 Nov 2020

US-based challenger bank Current has announced it has raised USD 131 million in Series C funding, led by Tiger Global Management.

Current, funding, challenger bank, neobank, digital banking, mobile banking, Tiger Global Management, investors, debit card,

Challenger banks, oases for SMEs - interview with Starling Bank

Interviews | Online & Mobile Banking | 24 Nov 2020

Anna Mitchell, Starling’s Head of Marketplace, shares the recipe behind the success of Starling and how the challenger bank is positioned to enable SMEs to thrive in challenging times with the use of APIs

Anna Mitchell, Starling, SMEs, APIs, incumbents, payments, lending, financial institutions, digital banking, alternative financial services, fintechs, challenger bank, invoice insurance, digital receipts, Coronavirus Business Interruption Loan, Bounce Back Loan Schemes, TPPs,

JP Morgan to launch digital bank in UK

News | Online & Mobile Banking | 23 Nov 2020

US investment bank JP Morgan has announced plans to launch of its digital consumer platform and challenger bank in the UK.

JP Morgan, Chase, UK, digital banking, challenger bank, AWS, consumer banking, online banking

bunq introduces Google Pay in the Netherlands and Portugal

News | Mobile Payments | 17 Nov 2020

Netherlands-based challenger bank bunq has announced plans to offer Google Pay to its customers in the Netherlands and Portugal, according to AltFi

bunq, Google Pay, Netherlands, Portugal, challenger bank, Apple Pay, contactless payments, virtual cards, encryption, NFC, mobile payments

Challenger bank Starling to raise additional capital

News | Payments General | 09 Nov 2020

UK-based challenger bank, Starling, has announced it is on track to be profitable by Christmas, but this does not mean it is not out raising additional capital already, according to TechCrunch.

Starling Bank, challenger banks, UK, funding, SMEs, investors, business accounts

British consumers to prefer platform banking, study

News | Online & Mobile Banking | 09 Oct 2020

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

News | Online & Mobile Banking | 02 Oct 2020

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

News | Online & Mobile Banking | 23 Sep 2020

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

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

News | Payments General | 16 Sep 2020

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

Tandem retires paid Cashback Credit Card membership

News | Cards | 04 Sep 2020

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

News | Ecommerce | 02 Sep 2020

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

News | Payments General | 31 Aug 2020

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

News | Online & Mobile Banking | 24 Aug 2020

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

News | Online & Mobile Banking | 20 Aug 2020

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

News | Online & Mobile Banking | 13 Aug 2020

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