On The Web

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Providers

Green Dot readies GO2bank to take on new generation of challengers

November 6 2020

• in
• Challenger Banks

“As challenger banks threaten Green Dot Corp.’s status among the underbanked, the prepaid card issuer is diving into their market by unveiling a challenger bank of its own. Green Dot took its first step last week by opening the waitlist for the aptly named GO2bank service, which it plans to launch next year.”

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Providers

Goldman Sachs is Taking What It Learned from a $100 Million Acquisition to Upgrade the Marcus App

September 14 2020

• in
• Challenger Banks
• Fintech

“Goldman Sachs is one step closer to creating what it calls the digital bank of the future. The bank has just released the first version of a personal finance management tool that gives customers of its Marcus retail brand a top-down view of all their financial accounts, as well as insights into spending and a […]

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Providers

Wise locks down $5.7 million to scale its challenger bank designed for small businesses

April 29 2020

• in
• Challenger Banks

“Wise is a new challenger bank built specifically for small businesses. The startup is aiming to insert itself as an essential service in the small business repertoire by bundling banking with payment services powered by Stripe. Customers can receive payments, manage their cash and pay employees all via Wise’s app. CEO Arjun Thyagarajan tells TechCrunch […]

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Domains

Fintechs, Small Banks Do Their Part in Coronavirus Fight Despite Risks

April 7 2020

• in
• Challenger Banks

“Chime began giving 1,000 of its customers access to $1,200 each in the first week of April, offering them an advance well before the federal government will start sending out stimulus payments in the same amount by check or direct deposit. This is an extension of the challenger bank’s SpotMe feature, which lets customers who […]

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Deals

HMBradley Officially Launches Digital Bank

March 30 2020

• in
• Challenger Banks

“HMBradley, a startup backed by PayPal Co-Founder Max Levchin, has officially launched its high yield digital banking platform after raising $3.5 million in November and signing thousands of applicants to a wait list.  The digital banking service, which offers up to 3% APY, is now allowing waitlisted customers to officially open their bank accounts and […]

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Providers

Popular European Banking App Revolut Is Launching in the US Today

March 24 2020

• in
• Challenger Banks

“Mobile banking app Revolut, which has more than 10 million customers in Europe, is launching today in the US, the company announced. Like Monzo, a UK-based banking app that made the jump to the US last June, Revolut is entirely app-based and doesn’t operate any brick-and-mortar locations. That means you can sign up for an […]

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Providers

Monzo launches free and paid-for business bank accounts

March 17 2020

• in
• Challenger Banks

“Monzo , the U.K. challenger bank, is officially launching business bank accounts today, after an extensive trial period over the last 12 months that saw early access given to 2,500 business customers. Perhaps surprisingly, right out of the gate Monzo is offering two versions of its business bank account — which is aimed at sold […]

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Deals

Business banking fintech Penta raises another €18.5M

March 17 2020

• in
• Challenger Banks

“Penta , the Berlin-based business banking challenger that also now operates in Italy, has raised €18.5 million, described as the first closing of a new funding round. Leading the round is new investor RTP Global and existing investor HV Holtzbrinck Ventures. Also participating is ABN AMRO Ventures and Berliner Volksbank Ventures, and Finleap (the fintech company […]

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Providers

Challenger Bank Neo Financial Launches in Canada – Banking Exchange

March 10 2020

• in
• Challenger Banks

“The founders of Canadian food delivery firm SkipTheDishes have launched a technology company offering a credit card with no annual fee and links to rewards from third-party brands in an effort to challenge the dominance of the country’s ‘big five’ banks.”

On The Wires

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Providers

Introducing Varo Advance: Instant Cash Access up to $100

October 19 2020

• in
• Challenger Banks

“Varo Bank , the only digital national bank, is introducing Varo Advance, an innovative product that instantly advances up to $100 to qualifying customers and gives customers more flexibility and control over their finances. Designed to help customers proactively manage their finances, Varo Advance offers instant access to up to $100 cash right in the Varo Bank app.* With a […]