When the world went into lockdown the digital banks were one of the beneficiaries of everyone staying at home; Current...
There have been many recent launches of digital banks which was a result of regulatory changes in the UK; Metro Bank was the first having launched in 2010, but there are many new names since then; article highlights founders and investors in the space including Eileen Burbidge (Monzo), Sanjeev Gupta (Wyelands Bank), Jonathan Rowland (Redwood Bank), Nick Ogden (ClearBank) and the Pears family (Masthaven Bank). Source
Popular digital banking app Dave has confirmed it suffered a security breach after a hacker published details of 7.5 million...
Tom Blomfield started Monzo over five years ago and has now decided to step down as CEO; he will now...
Though Monzo has seen a share of issues and outages recently the company says the third party marketplace is core to their vision; they also explained it was a key part of their revenue drive and will help to drive down costs per customers in the near future; Monzo have plans to expand product offerings, potentially launch in the US and build out partnerships in the near and mid term future. Source.
Barclaycard is rebranding as Barclays in the US and launching a digital only bank in 2018; they have been testing the market since last year and plan to fully launch their offering next year; Barclays is more of a household name in the UK but has been offering credit card services under the Barclaycard name in the US. Source.
The digital banking space in Europe continues to suffer in the crisis with AltFi reporting that Revolut is looking to...
The company announced the news in an earnings call; they will begin testing products this year and have invested $53.3 million developing the new bank; Virgin Money is said to have signed an agreement with 10x Future Technologies to develop the platform. Source
Leading UK digital bank Monzo released its annual report yesterday and the numbers were not pretty; the company reported that...
From the LendIt Fintech Jobs Board: The Financial Crime department at leading digital bank Revolut is looking for a Senior...