Digital banks have been presenting themselves as a more transparent fairer option than the traditional players; what these newcomers are finding is to scale and reach profitability they will need to figure out a way to lend that doesn’t strike the same tone as customers get from their typical bank; Tandem, Monzo, Starling Bank, Revolut and N26 have all started to roll out lending options in a variety of ways by using a tailored data driven approach; figuring out where the balance lies is the key piece if these banks are truly going to disrupt the banking system. Source.
[Editor’s note: This is a guest post from Ryan Weeks, formerly with Dow Jones and AltFi, covering fintech. This is...
Open Banking is set to launch in Europe next month. As banks and fintech firms rush to ensure compliance we...
UK based challenger banks Starling Bank, Metro Bank and ClearBank were awarded more than $365mn of the RBS Competition Fund;...
UK digital challenger bank, Starling, has raised £60 million led by Merian Global Investors; the funds will be used to...
UK digital challenger, Starling Bank, has announced plans to move forward with a small business lending offering; last year they...
Only 98,192 account switches took place in Q2 2020, down 65 percent from Q1 when more than 280,000 switches took...
Innovate Finance published their annual list of women in fintech and while progress has been made, more work is needed; Innovate Finance CEO Charlotte Crosswell said "We’ve still got work to be done. When you look at statistics of women in fintech — it’s not there yet.”; other leaders like Anne Boden of Starling Bank said we all need to try harder; studies also show that the more diverse a team the better they perform. Source.
Banking as a service is one of the hottest trends in fintech today with fintechs, service providers and banks all...
UK fintech investment dropped 39 percent for the first half of 2020 to $1.84bn, down from $3bn in the first...