challenger banks

Starling Fined $38 Million for ‘Shockingly Lax’ Crime Controls
Starling Fined $38 Million for ‘Shockingly Lax’ Crime Controls
October 02, 2024  |  Bank Regulation

Starling Bank has been fined 29 million pounds ($38 million) for failing to implement proper financial crime controls. The U.K. Financial Conduct Authority (FCA) announced the penalty against...

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Neobank Bunq Aims to Expand Headcount by 72%
Neobank Bunq Aims to Expand Headcount by 72%
September 12, 2024  |  Digital Banking

Dutch neobank Bunq is reportedly launching a hiring spree as it aims to expand. The company’s chief executive told CNBC in a report posted Thursday (Sept. 13)...

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UK Neobank Starling Profits Soar 55% for Third Year in the Black
UK Neobank Starling Profits Soar 55% for Third Year in the Black
June 12, 2024  |  Digital Banking

Starling has just finished its third profitable year amid plans to expand its software operations. The British neobank on Wednesday (June 12) released its annual report, showing...

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Metro Bank Secures $1.1 Billion From Investors
Metro Bank Secures $1.1 Billion From Investors
October 08, 2023  |  Banking

England’s Metro Bank has reportedly secured $1.1 billion from investors following a rocky week. As Bloomberg News reported Sunday (Oct. 8), the funding package is comprised of a...

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UK Launches FinTech Fund Backed by Mastercard and Barclays
UK Launches FinTech Fund Backed by Mastercard and Barclays
August 16, 2023  |  Startups

The United Kingdom has taken a significant step to bolster its position as a global FinTech investment hub by launching a £1 billion investment fund,...

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Banks Cut Neobanks’ First Mover Advantage on Fees and Tech
Banks Cut Neobanks’ First Mover Advantage on Fees and Tech
October 21, 2022  |  Digital-First Banking

In business, sometimes, the strategy is to be first — jumping into markets with new products and services, striving to capture consumers’ mind share, wallet...

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Digital Lenders Flood UK Mortgage Market as Battle Against Incumbents Grows
Digital Lenders Flood UK Mortgage Market as Battle Against Incumbents Grows
October 06, 2022  |  Digital-First Banking

As U.K. consumers become ever-more open to digital banking, the range of services offered by digital-first banks has been expanding to meet that demand. But...

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Banking License Puts Profitability Within Reach for UAE Neobanks
Banking License Puts Profitability Within Reach for UAE Neobanks
October 03, 2022  |  Digital-First Banking

If the Middle East was late to the neobank party, the United Arab Emirates, at least, is making strides toward the future of digital banking....

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UK Parliamentary Group Calls for ‘New Big Bang’ as Part of Neobank Regulatory Overhaul
UK Parliamentary Group Calls for ‘New Big Bang’ as Part of Neobank Regulatory Overhaul
August 31, 2022  |  Banking

In the U.K. political system, all-party parliamentary groups (APPG) consist of multi-partisan collaborative panels that bring together members of both houses to investigate important issues...

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