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.
Nubank’s first H1 profit in Brazil vindicates its growth strategy: The neobanking giant reached first-half profitability at home—and its payment volume and loan book surged. Overseas expansion and a new paid account could continue this momentum.
The UK neobank’s banking as a service offering could open up a promising business line—helping nonbanks to offer banking products that interest consumers.
New insurance features and an added subscription tier could help Monese expand into more profitable lines of business.
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.
Its fresh £14M funding round brings the UK-based newcomer to the capital threshold where operating restrictions end. Now comes the hard part: Distinguishing itself from other banking players.
The incumbent banking giant is teaming up with Simply Business to offer small and medium-sized businesses (SMBs) access to insurance coverage. Banks are using partners to provide services that boost customer engagement.
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.
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.
Starling’s maiden tie-up takes it deeper into lending: The challenger’s £50 million ($64.1 million) deal for specialty lender Fleet Mortgages lets Starling put its deposits to work and takes it into a space that’s not crowded with UK neobanks.
One hundred UK tech firms are valued above $1 billion, mostly thanks to its fintech sector—Watch for more unicorns to appear in the following sub sectors worldwide in the coming year.
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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