On The Web

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Deals

Mexican challenger bank albo raises $45 million to expand

December 9 2020

• in
• Challenger Banks
• Mexico

“With nearly half a million customers across Mexico and a network of 30,000 retail locations where representatives can take deposits, the challenger bank albo is already on its way to becoming a dominant player in Mexico’s emerging fintech industry. And the company has recently raised another $45 million to consolidate its position.”

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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 […]

On The Wires

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Providers

Varo Bank Introduces Varo Believe, a New and Better Way for Millions of Americans to Build Credit

February 26 2021

• in
• Challenger Banks

“Varo Bank , the first all-digital nationally chartered bank in the US, today introduced the Varo Believe Program*, an innovative credit building product that includes a Visa credit card and credit monitoring. The Believe Program is aimed at the 45 million Americans who are “credit invisibles” – meaning they have insufficient credit history to qualify for […]

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Providers

Green Dot Launches Ultimate Mobile Bank for Americans Living Paycheck to Paycheck

January 6 2021

• in
• Challenger Banks

“Green Dot Corporation (NYSE: GDOT) today announced the launch of GO2bank , a new mobile bank designed to help the two in three Americans living paycheck to paycheck stretch their money further and build a stronger financial foundation.1 GO2bank makes money access and management a safe, easy, useful part of everyday life with tools that help […]

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Domains

Current becomes first fintech to receive government stimulus payments

January 4 2021

• in
• Challenger Banks
• Income

“Current , a leading U.S. challenger bank serving Americans overlooked by traditional banks, announced it was the first fintech in the country to receive the second round of government stimulus payments. Current received the payments before 9 p.m. ET on Tuesday, less than three hours after the U.S. Treasury announced the funds were being issued, and […]

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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 […]