The UK’s FCA found that the banks may have inadequate financial crime defenses.
Banks face growing pressure from shareholders and customers to take more action on sustainability. While transitioning to a greener business model will be challenging, banks have a plethora of strategies to choose from.
This report explores what’s driving UK neobanks’ growth and how incumbents can defend their share of the digital bank account holder market.
Strong growth in the key metric for the first nine months of 2021 could foreshadow success in the incumbent bank’s other targeted plays and keep it competitive with neobanks.
Proximity and peer-to-peer mobile payments are on the rise in the UK, thanks to high user adoption of mobile and banking. However, growth is slow, which means that wallet providers looking to crack the market will need to get creative.
A child-centric PFM app could help NatWest influence a younger generation’s financial lives—and its unique value-add could reduce defection to proliferating switching incentives.
The US banking giant will launch its first international retail presence this week. Its resources, market experience, and patience about attaining profitability suggest that it could be a formidable player.
This third annual study ranks the 10 largest UK banks and building societies by assets according to their mobile banking capabilities and how highly consumers value their offerings. We present detailed benchmarking data on the availability of 41 mobile features, selected based on their propensity to set financial institutions apart.
The new app gives users better control of their rent and utilities and other housing expenses—and could help the bank tap into a younger cohort.
A group of the country’s large banking players is hammering out a deal to jointly operate branches in underserved areas. If the agreement ends with more shuttered locations, it could prompt a backlash.
Customers still value the ability to visit a physical branch—and banks should accommodate them with a blended approach that incorporates important aspects of both the physical and the digital.
Monzo’s losses widen while its revenue stays strong: The UK neobank’s annual report reveals a mixed bag of news: Its deposits are soaring, but it’s the subject of a Financial Conduct Authority (FCA) probe. Its results show it’s less volatile than Revolut, but it’s missing Starling’s stability.
Virgin Money boosts UK SMB lending experience with partnership: The UK bank’s latest fintech team-up demonstrates a focus on pivoting to post-pandemic customer retention.
A key UK pandemic SMB loan program turns 1: The Bounce Bank Loan Scheme provided £46.53 billion ($59.67 billion) to strapped businesses and offered neobanks a chance to grow their books—but lenders now have to deal with repayments and keeping the borrowers.
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