Monzo is taking action to be sure they will get through the current challenges related to COVID-19; the company currently...
Challenger banks Revolut, Starling Bank and Monzo are all reported to be out fundraising; Business Insider reports that Revolut will...
The fintech industry is coming up on the tipping point of funding, revenue generation, and user acquisition to rival traditional finance with $20 billion in YTD fintech financing, the several SPACs, and Visa’s $2B Tink purchased. Defensive barriers have eroded.
Let’s take a moment to compare capital. While it is not the money that wins markets, it is the transformation function of that money into novel business assets that does. And while the large banks have a massive incumbent advantage with (1) installed customers and assets, and (2) financial regulatory integration (or capture, depending on your vantage point), there is a real question on whether a $1 generates more value inside of an existing bank, or outside of an existing bank — even when it is aimed at the same financial problem.
Here are the most read news stories from our daily newsletter today: OCC chief expects SWIFT-like bank-to-blockchain connections in 3...
Many staff members at the challenger banks are working from home with Starling and Revolut opting to split staff between...
The strategic partnership is intended to increase funds available to smaller firms during the current pandemic; Starling is lending via...
Tide is reportedly in discussions for a new funding round totaling hundreds of millions of pounds according to reporting from...
Reuters reports the several digital banks in the UK are still awaiting word whether they can offer government-backed loans to...
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