Welcome to the sixth installment of TechREG’s series on open banking. In this series, you’ll find everything you need to know about how banks and FinTechs share data, what are the main risks, use cases and more. See also: Open Banking Series: Market-Driven vs. Regulatory-Driven Open...
Despite the legal and pandemic-related business challenges that have plagued neobanks in the United Kingdom in recent months, the challenger bank space in Europe is showing huge potential for 2022 as investor and customer interest continues to grow. Read more: China’s Tencent Takes Stake in...
About 1.4 million identity theft incidents were logged by the Federal Trade Commission in 2020, a figure that’s more than double the thefts from the year before. As banking becomes an increasingly digital practice, consumers are becoming increasingly aware of vulnerabilities in the system. A...
Tencent, the Chinese-based tech group, has a new stake in Monzo, which shows a big recovery in Monzo’s fortunes as it’s now valued at $4.5 billion, Financial Times writes. Monzo saw trouble earlier in the pandemic, when valuations plummeted and some speculated that the digital-first...
Airtel Payments Bank now has over one billion transactions on its platform during September quarter 2021-2022, sources say. This represents around 61% of its year-over-year growth in transaction volume. This, the report says, has shown the strength of Airtel’s digital-first model and its distribution of...
Customers of Revolut were inconvenienced by a partial outage of services, leaving them unable to complete online payments for a while on Sunday, Dec. 26, the Irish Times writes. There wasn’t complete information on how many of the FinTech’s customers were affected by the issue....
Revolut Bank, part of the U.K. FinTech unicorn Revolut, has been granted a full banking license by the European Central Bank (ECB), the Bank of Lithuania (LB) recently announced. The ECB-licensed and LB-regulated specialized bank can now issue consumer credit among other services, while protecting...
Chime customers can now deposit cash at Walgreens locations around the country, the FinTech announced Monday (Dec. 13). This service is available at more than 8,500 Walgreens at no fee. The company noted that 78% of Americans live near a Walgreens location. Read more: Chime...
U.K. challenger bank Monzo is raising more than $500 million (£377m) at a valuation of $4.5 billion (£3.4bn) as it gets ready to take a deeper dive into cryptocurrency trading and further evolve its buy now, pay later (BNPL) product. The first part of the...
