On The Web

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Providers

Challenger Bank Current Plans to Pursue Decentralized Finance

April 4 2022

• in
• Neobanks

“Seven years ago, the founders of Current envisioned a challenger bank that would balance blockchain-based services with traditional banking. This was well before the term “decentralized finance” existed and when cryptocurrency was in its infancy.”

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Providers

EXCLUSIVE Nubank Sees Brazil Downturn As a Chance to Grow Faster -CEO

February 3 2022

• in
• Neobanks

“Brazil’s economic downturn may represent an opportunity for Latin America’s newest listed lender to gain market share aggressively despite the riskier environment, the founder and CEO of digital bank Nubank (NU.N) , David Velez, said. The fintech debuted on the New York Stock Exchange less than two months ago as Latin America’s most valuable financial […]

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Providers

Chime Users Can Now Make Deposits at Walgreens For Free

December 14 2021

• in
• Neobanks

“Financial-technology firm Chime said customers can now deposit cash at more than 8,500 Walgreens Boots Alliance Inc. locations, another example of non-banks pushing deeper into consumer finance. Users of Chime accounts won’t have to pay any fees for the service, the San Francisco-based company said in a statement Monday. The firm, which partners with banks […]

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Providers

With Loyalty App, Walgreens Has the Look of a Neobank

September 13 2021

• in
• Neobanks

“Walgreens’ latest banking services take pages from the playbooks of digitally savvy retailers like Starbucks and Amazon — as well as neobanks. At the heart of Walgreens’ new bank offerings is its myWalgreens reward app. This approach has echoes of Starbucks and Amazon. The coffee chain became one of the few early success stories in […]

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Providers

Revolut Plans 2021 Credit Card Launch in Bid to Crack US Market

September 2 2021

• in
• Neobanks

“Revolut intends to launch a credit card for its US users as soon as the end of this year, as part of its strategy to make a big impression in the overseas market. It will mark the first time the digital bank has launched a credit card outside select European countries, where it is able […]

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Deals

Digital banking platform One raises $40 million in round led by Progressive

August 19 2021

• in
• Neobanks

“Sacramento-based online banking technology company One has raised a $40 million round of funding to expand its banking service across the country.”

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Global

RappiPay Colombia obtained a license to become a neobank

August 17 2021

• in
• Latin America
• Neobanks

“RappiPay received authorization from the SuperFinanciera to become a neobank. RappiPay, a 50/50 “Joint Venture” of the Davivienda bank and the Colombian unicorn Rappi, received authorization from the Financial Superintendency of Colombia to establish itself as a banking entity, thus it has the way paved to be the next neobank in that country.”

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Deals

Fintech Firm Chime Valued at $25 Bln After $750 Mln Funding

August 16 2021

• in
• Neobanks

“Chime Financial said on Friday it had raised $750 million in its latest funding round led by Sequoia Capital Global Equities, valuing the financial services startup at $25 billion. Chime’s latest fundraise is likely to be a precursor to its stock market listing in the United States early next year. The company had held preliminary […]

On The Wires

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Providers

Monzo Moves From Beta to Public Launch in the US!

February 3 2022

• in
• Neobanks

“Today, Monzo is moving out of closed beta and opening Monzo to customers across America! The wait(list) is over – if you want a Monzo account, just download the app and apply. If you’re eligible, you could have your account up and running in 10 minutes.”

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Providers

National Advertising Division Finds Chime’s “No Overdraft Fees” Claims Supported; Recommends Qualification of “No Hidden Fees” Claims

January 3 2022

• in
• Neobanks

“The National Advertising Division (NAD) of BBB National Programs determined that Chime Financial, Inc.’s advertising for its “SpotMe” program disclosed the material information necessary to ensure that claims about its program are substantiated and that Chime’s “no overdraft fees” claims are supported. Further, NAD found that the Chime homepage adequately qualifies its “no fees” claim […]