This week, we look at Betterment launching a bank account and payments feature. They are not the first, but they could be the best! Still, it feels like the world has moved on. Barriers to entry around digital finance have collapsed, and shifted industry goal posts. Hundreds of companies are integrating API-based solutions that connect to banking and investment entities. Amazon, Google, and Apple are there already. And let's not forget the incredible pressure from the COVID recession: 20MM+ unemployed, $100 billion decrease in global remittances, 1 in 8 banks being unprofitable. Is it time for incremental improvement, or a sea change?
New research from Apptopia shows that the leading digital banks in Europe are off to a slow start in the...
Qwil’s Johnny Reinsch: ‘Our mission is to provide liquidity to SMBs and freelancers around the world’ Nationwide Announces New Partnership...
Clearbanc just launched a valuation tool that its cofounders are calling a credit score for startups. Here’s what entrepreneurs need...
Monzo users might see their credit scores take a hit due to the digital bank sharing data only with TransUnion...
Tom Blomfield believes that banks focus too much on their existing financial products such as mortgages, loans and credit cards;...
Monzo has officially launched their first product for businesses; the bank has shared that they hope to be profitable in...
The Financial Conduct Authority released firm-specific complaint data for the second half of 2019 which showed that challenger banks hold...
Monzo has grown its customer base over five times in one year and used different methods that help keep that base coming back; they ask for community feedback, open the company for equity crowdfunding rounds so users can invest and they host small, intimate events; 80 percent of their growth is word of mouth, the remaining 20 percent is through ads on Facebook and Twitter; “The biggest challenge is that we’re growing very fast — our customer and employee numbers are growing fast — we want to keep the customer focus, how we operate a transparent customer growth approach, and how we do that at scale,” as Tristan Thomas, Monzo’s head of marketing and community, tells TearSheet. Source.
AltFi takes a look at how the digital banks are hiring as many of the top names have all raised...