There is no question that challenger banks like Revolut, Monzo and N26 have acquired massive amounts of customers; it leads...
N26 said they are furloughing 10 percent of their staff, cutting back on advertising spending and reconsidering their planned launch...
UK digital challenger, Starling Bank, has announced plans to move forward with a small business lending offering; last year they...
UK-based Redwood Bank has launched digital banking services after obtaining a banking license for business in the UK; Redwood Bank is the first bank with a 100% cloud-based infrastructure and will offer SME mortgages for business owners and professional landlords as well as a 35-day business savings account; Redwood Bank is wholly-owned by Redwood Financial Partners Ltd. which is controlled primarily by Warrington Borough Council with a 33% ownership stake; the newly launched bank is covered by the UK's Financial Services Compensation Scheme (FSCS) which protects customers' eligible deposits of up to a total of GBP85,000 ($109,846). Source
Digital banking startup Stash has been running virtual stock parties during the quarantine as a means of engaging their user...
Challenger banks have been amongst the most popular types of fintech companies with venture capitalists pouring capital into the market;...
Europe is leading the global market in challenger banks and also providing examples for the future of banking; as digital banks increasingly gain market share a number of Europe's large banks have announced branch closings including Lloyds, RBS and NatWest; AltFi discusses the ideal bank of the future reporting on the growth of challenger banks and their potential to open physical branch locations. Source
CB Insights reports on two of Europe's top markets for fintech investment, the UK and Germany; the UK is reporting significant early-stage investment in personal banking platforms and insurtech with insurtech also a top investment in Germany; year-to-date, European fintech companies have raised approximately $2.6 billion with early stage fintech financing in the UK at $202 million and Germany reporting financing of $83 million. Source
A new report by ratings agency Fitch says digital banks could be more vulnerable than traditional banks in the event...
N26 has shared that they have crossed 5 million customers, up from 3.5 million last summer; in 2019 they added...