JP Morgan just shut down its neobank competitor Finn, targeted at Millennials in a smartphone app wrapper. Several other traditional banking incumbents have similar efforts, from Wells Fargo's Greenhouse, Citizens Bank's Citizens Access, MUFG's PurePoint and Midwest BankCentre's Rising Bank, as well as most of the Europeans (e.g., RBS competition to Starling called Mettle). These banks have every advantage -- from product infrastructure, to balance sheet, to regulatory licenses, to physical footprint, to relationships with the older generation. So how is it that players like Chime, MoneyLion, Revolut, and N26 are all able to get millions of happy users and the incumbents are failing?
From the LendIt Fintech Jobs Board: The Financial Crime department at leading digital bank Revolut is looking for a Senior...
In this conversation, we break down recently published annual reports from Revolut, Starling and Monzo, three of the leading European digital banks. There are some fascinating insights to be drawn from the documents, especially in the context of the broader global fintech market. This is rich subject matter, and we surely didn’t cover everything.
Monzo now had 4 million customers in the UK which equates to just over 1 in every 16 people in...
In this week’s PeerIQ Industry Update they cover the growing turmoil in the markets due to the spread of coronavirus...
Fintechs lose 50% of new accounts within the first year, according to Digital Onboarding SVP Adam Westley: Money walks right out the door.
Mastercard is already working with names like Brex, Revolut and TransferWise; they have also announced programs in order to make...
Last night in London the banking community in the UK came together for the annual British Bank Awards; Starling Bank...
Many staff members at the challenger banks are working from home with Starling and Revolut opting to split staff between...
Clearbanc just launched a valuation tool that its cofounders are calling a credit score for startups. Here’s what entrepreneurs need...