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FinTech Revolut’s Losses Triple As Customer Base Grows

PYMNTS

With its losses mounting, the London-based digital bank may need to tap into its corporate reserves to keep up with its expansion plans. Revolut , one of the biggest players in the crowded financial technology (FinTech) sector, has yet to make a profit. The FinTech has since expanded to offer business banking.

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Banking startup Level enters the high-yield savings race

Bank Innovation

Level, a digital banking startup based in San Francisco Calif., Level is also offering 1% debit card rewards and paycheck deposits two days early to sweeten the deal for customers. is trying to hook customers with a 2.1% savings account annual percentage yield.

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UK Digital Bank Monzo Crosses Pond To US

PYMNTS

Digital bank Monzo, based in the United Kingdom, is crossing the pond. shores, debuting with what is being termed a “limited rollout” of an app linked to a checking account and debit card. The company traces its genesis to 2015 and is among a pantheon of “neobanks” that focus on digital offerings. “We In the U.K.,

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Innovative Ecosystem Draws FinTech Firms To Toronto

PYMNTS

Toronto is a powerhouse for financial innovation in Canada: The city has the most sizable ecosystem for FinTech in the country, with 185 startups per one count. NorthOne , a FinTech firm that focuses on small business owners, is one of the companies that call the city home. that let them deposit cash and checks.

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Digital Bank Monzo Jumps Into Lending In The UK

PYMNTS

banking market through a partnership with Ohio-based Sutton Bank. It has already signed consumers up for its cards in cities including Los Angeles, New York and San Francisco and there is currently a waiting list. s FinTech-friendly regulatory environment.”. In June, Monzo started its move into the U.S.

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This Week In Payments: Alternative Credit Ramps Up Ahead Of The Holidays; Revolut Reportedly Near Applying For US Banking License 

PYMNTS

It’s been another busy week in the world of payments and commerce, with the expansion of installment point of sale (POS) credit and digital banking. banking license. Risk decisions to be made in milliseconds, he said, and they can perform better than many underwriting models in traditional credit card companies. “I

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Revolut Launches Price Comparison Service In UK

PYMNTS

FinTech Revolut is working with Decision Tech , a price-comparison technology company, to launch a new service to help users compare — and switch — providers of gas, electricity, broadband, mobile and TV. For one, the digital bank startup said it had landed $80 million in venture funding from San Francisco-based TSG Consumer Partners.