On The Web

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Providers

Robo Adviser Betterment Pitches for Client Cash by Offering Traditional Banking

July 23 2019

• in
• Challenger Banks

“Betterment LLC, an early provider of digital-investing services, is trying its hand at traditional banking. To vie for customer cash and expand beyond its robo-advising roots, the firm is introducing new banking products at a time when anxiety over slowing economic growth has led some investors to reduce market exposure and stockpile cash.  Betterment is […]

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Providers

N26 Launches Its Challenger Bank in the US

July 11 2019

• in
• Challenger Banks

“European fintech startup N26 is now accepting customers in the U.S. The company is launching a bank account with a debit card that should provide a better experience compared to traditional retail banks. If you’re familiar with N26, the product that is going live today won’t surprise you much. Customers in the U.S. can download […]

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Deals

India’s NiYO ‘neo-bank’ Raises $35M to Help Blue-collar Workers Access Financial Services

July 9 2019

• in
• Challenger Banks

“NiYo Solutions, a Bangalore-based ‘neo-bank’ that helps salaried employees and blue-collar workers access company benefits and other financial services, has raised $35 million in a new funding round to expand its business in the nation and explore international markets for some of its products.”

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Providers

Revolut Launches Stock Trading in Limited Release

August 1 2019

• in
• Challenger Banks

“Fintech startup Revolut is launching its stock trading feature today. It’s a Robinhood-like feature that lets you buy and sell shares without any commission. For now, the feature is limited to some Revolut customers with a Metal card. While Robinhood has completely changed the stock trading retail market in the U.S., buying shares hasn’t changed […]

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Providers

N26 Sets Sights on Future IPO

August 15 2019

• in
• Challenger Banks

“Co-founder and chief executive, Valentin Stalf, has told the Financial Times that the fintech – which has amassed 3.5 million clients since its 2015 launch – plans to eventually apply for an IPO, as part of its aim of building a global brand. “We want to provide the app that you turn to every day to deal with […]

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Providers

Chime Now Has 5 Million Customers and Introduces Overdraft Alternative

September 4 2019

• in
• Challenger Banks

“Challenger bank Chime has reached 5 million customers in the U.S. The San Francisco-based startup is creating an FDIC-insured mobile bank without any physical branch. The company also promises less fees. Back in March, Chime said it had 3 million customers when it announced its $200 million Series D round . So that’s 2 million […]

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Providers

Barclays’ Former CEO Says Banks Should Beware the Story of Uber

September 4 2019

• in
• Banks
• Challenger Banks

“In late 2015, Antony Jenkins said the banking industry was approaching its “ Uber moment .” The former Barclays CEO predicted that major, established lenders could be forced to cut as much as half their workforces and bank branches in the coming decade. He said that a group of new banks would become well known […]

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Providers

Bunq Simplifies Group Payment Tracking and Adds Analytics

September 3 2019

• in
• Challenger Banks

“European challenger bank Bunq is announcing a handful of updates today. You now get a better overview of your account with more insights on how you spend money. If you’re going on vacation with someone else, you can now choose to automatically add transactions to a Slice Group. There are also improvements to VAT management […]

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Providers

N26 Launches Shared Spaces and Is Now Fully Available in the U.S.

August 22 2019

• in
• Challenger Banks

“Challenger bank N26 is announcing two things this week. First, the company lets you share sub-accounts with other N26 users in just a few taps. Second, after a limited beta test, the company is officially launching in the U.S. with open registration.”

On The Wires

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Providers

Neo Receives Approval From the Bank of Spain to Launch a Corporate Multi-currency Account

July 10 2019

• in
• Challenger Banks

Neo will allow the account holder to receive, store and pay in around 30 currencies. The Neo account will include an IBAN in the client’s name, and will be fully programmable in order to offer extended automation capabilities to clients. It will rely on a proprietary Core Banking System developed by Neo Fintech Lab in […]