There’s a commonality in financial services — for brick-and-mortar players and for several FinTechs, though the approach may differ: Serving the needs of lower-income households. The big banks have lost at least some share to neobanks — FinTechs that have been able to carve out...
British digital bank Monzo is launching a free account for children under 16. The bank on Wednesday announced the waitlist for Monzo for Under 16s, designed to offer money management tools to kids between the ages of 6 and 15. “The account gives children the...
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 a 54.7% increase in pre-tax profits, to 301.1 million pounds ($384.3 million). The firm’s revenues rose by 50.6% to 682.2...
British digital bank Zopa is profitable and getting closer to going public. But CEO Jaidev Janardana told the Financial Times (FT) Monday (April 15) that while the company was ready for an initial public offering (IPO), the London markets might feel differently. “I’d be surprised if there are U.K. FinTech...
October 31, 2023
They have different business models — but often compete for the same customers. And for banks and neobanks, there may be one commonality: The challenge of pushing back against the rising tide of fraud, both here in the U.S. and across the pond in the U.K. Neobanks, of course, are digital-only players in financial services. […]
March 23, 2023
Digital banks are gaining market share, especially among small business owners, freelancers and millennial customers. Increased security and the latest innovative features appeal to many favoring digital banking, but many,...
September 13, 2022
“If the fraudsters find a hole, they’re going to run a bunch of transactions through it,” Ingo Money CEO Drew Edwards remarked to Karen Webster. Right now, financial services are...
September 12, 2022
Most people have tried digital banking, but they may not have realized it. PayPal and Venmo are both already mainstream, and many digital-only banks are ready for consumers to transfer...
July 17, 2024
British digital bank Monzo is launching a free account for children under 16. The bank on Wednesday announced the waitlist for Monzo for Under 16s, designed to offer money management tools to kids between the ages of 6 and 15. “The account gives children the opportunity to experience magic money firsts like saving, budgeting, receiving […]
June 12, 2024
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 a 54.7% increase in pre-tax...
April 15, 2024
British digital bank Zopa is profitable and getting closer to going public. But CEO Jaidev Janardana told the Financial Times (FT) Monday (April 15) that while the company was ready for an initial public...
March 05, 2024
UK digital bank Monzo has been valued at $5 billion following a $430 million funding round. The round was led by Alphabet’s CapitalG group as well as Google Ventures, HongShan Capital and existing investors Passion Capital and Tencent, Monzo said...
