Tag: Challenger Banks

UK challenger bank Monzo is facing new setbacks as it is reportedly going to cut 120 jobs.

Mobile banking platform Varo Money has nabbed $241m in its Series D round, as it moves closer to national charter approval.

The European neobank app updates are coming fast right now with Revolut unveiling the latest version of its app just days after Dutch rival bunq did the same.

Neobank bunq has updated its platform with new features aimed at changing the way people think about banking, including new charity functions that allow them to help businesses struggling because of the coronavirus.

Challenger banks had already started a revolution in digital banking, but with the coronavirus pushing these changes to become permanent it could mean that one in four European bank branches will be forced to close by 2023.

A former Sberbank Technologies employee has set out to launch a challenger bank for self-employed Europeans.

COVID-19 has plunged financial markets into chaos, but the pandemic also represents both challenges and opportunities for FinTech companies as they adjust to a whole new reality.

Investment in the sector is expected to slow down for the remainder of the year as the momentum from record H2 2019 wears off

Australian challenger bank Judo Bank has pushed past the $1bn valuation mark and officially become a FinTech unicorn on the back of its latest raise.

Months of setbacks seemed to have been too much for the banking app that was once hailed as NatWest’s Monzo killer, with Bó now announcing that it is closing down.