Revolut rolls out business invoicing: The neobank is giving small and medium-sized businesses in the UK and across Europe the ability to run their collections processes through its app—its latest step in building a “financial super app” with a wide breadth of offerings.

Revolut hits a peak of 15.5 million retail customers: The neobank’s accounts and revenue swelled even as its losses mounted—and its financials suggest it can still grow paid revenue and attract more non-UK customers.

Hundreds of US retail banks to take plunge into Bitcoin trading: Banking tech provider FIS and crypto custodian NYDIG are teaming up with smaller incumbents to offer Bitcoin trading—enabling established banks to compete with challengers like Revolut and Venmo.

(For context, the UK’s biggest neobank by customers, Revolut, had well under half that total at the end of 2020: 14.5 million.). By launching a premium account tier that charges a monthly fee, Nubank is positioning itself to convert its gigantic client base into a steady revenue stream independent of debit card usage.

Revolut, which recently noted its business accounts more than doubled to 500,000 in 2020, has also set its sights on the US. Its $800 million in freshly raised capital could give the UK-based neobank enough firepower to make a strong foray into the US. The big takeaway: Square’s merchant base represents a vast resource it can tap into to get ahead of its well-funded opponents.

And to further spook UK neobanks like Monzo, Starling, and Revolut, they’ll all have the JPMorgan Chase brand underpinning them to offer legitimacy, potentially attracting consumers who are curious about trying a digital bank, but want the added reassurance of an established brand.

Neobank Revolut, for example, which still has temporary registration, adopted Elliptic’s crypto compliance software last month. The extension highlights the FCA’s classic pragmatism in helping market players adapt to requirements based on new fintech services but also heralds more scrutiny. This isn’t the first time the FCA has been flexible.

Within six weeks, fintechs that operate under an e-money license—such as Revolut—must notify customers about how protections they offer are different from licensed banks’, such as a lack of Financial Services Compensation Scheme deposit protection. The FCA’s warning is the latest case of regulators tightening oversight of neobanks.

Cardano, for example, uses the less energy-intensive “proof of stake” verification protocol and was recently added by Revolut. In addition, firms like Tesla may one day pick Cardano or other green cryptos as more sustainable alternatives to Bitcoin, enhancing their recognition among investors.

These players have been struggling: UK-based Revolut, for example, pulled the plug on its beta in the country, although it plans a return next year. But Canada’s entrenched incumbent banks make it hard for challengers to win market share. Just five big banks dominate Canada’s banking sector: BMO, TD Bank, RBC, CIBC, and Scotiabank.

Meanwhile, Revolut counts more than 500,000 business clients, and SMB-focused neobank Tide has doubled its users in just the past year, crossing the 330,000 mark for member businesses and climbing above 5% UK SMB market share—it has an 8% goal for 2023, according to AltFi.

It’s also a customer acquisition and retention incentive in the UK offered by Revolut and Monzo. The ability to generate a paper check from the mobile banking app and mail it for free is a valuable payments tool when electronic transfers won’t suffice.

Several neobanks in the UK are hungry to gain more share in business banking, including Tide, Starling, Monzo, and Revolut.

These measures could help Monzo and Revolut cement their presence in the neobanking market, by moving them toward sustainable profits and increasing client satisfaction to prevent bank switching.