PYMNTS

FEBRUARY 25, 2020

Dubbed “challenger banks” for shaking up the status quo of banking as we’ve always known it, digital banks with awesome apps are the FinTech alternative to more staid financial institutions whose roots go deep, but may also seem a bit dazed by the pace of tech change to the their sector. The Top 5 Digital Banking Apps.

Digital Banking 218

Digital Banking America Fintech Security 218

PYMNTS

OCTOBER 31, 2018

Monzo , the U.K. mobile-only bank, now has a valuation of $1.3 Reuters , citing Monzo, reported the mobile bank said Wednesday (October 31) that it raised 85 million pounds — and as a result, has a valuation of more than $1 billion. billion, Monzo is the most recent in a string of U.K. With a valuation of $1.3

Capital 153

Capital Taxes Maine Mobile 153

Chris Skinner

JUNE 15, 2019

The main blog headlines are … Challenger banks don’t matter as they’re not a primary account During Money 2020 Europe, I bumped into a chap from Monzo. No names mentioned, but he was buzzing and no wonder.

Maine 164

Maine 164

TheGuardian

JULY 30, 2021

Digital bank says it is cooperating with watchdog which is ramping up efforts to combat financial crime The UK’s financial watchdog has said it is investigating digital bank Monzo over potential breaches of anti-money laundering and financial crime rules.

Digital Banking 92

Digital Banking Cards Regulation 92

PYMNTS

FEBRUARY 11, 2019

Monzo, a digital bank out of London, wants to expand past just mobile-based personal banking customers to small and medium-sized businesses (SMBs). . Tom Blomfield, the CEO of Monzo, asked customers in a tweet : “What one thing would you add to @monzo in 2019 to make it (more) awesome?”.

Digital Banking 115

Digital Banking Software Tools Innovation 115

PYMNTS

OCTOBER 3, 2016

Monzo announced on Friday (Sept. 30) that users can now send money to friends and family via their voice. In a press release , Monzo said the new update, which was just released, integrates Siri on iOS 10 to make it even easier to send and receive money. And if the success Santander U.K. When Santander U.K.

Massachusetts 180

Massachusetts Innovation Technology Mobile 180

PYMNTS

JULY 2, 2018

Monzo , the digital bank in the U.K., The report said that the app only bank currently has 750,000 users and is valued at $336 million, but Monzo needs customers to do more than sign up and get friends to join so that they can split restaurant bills. Net operating income of 1.8

Digital Banking 102

Digital Banking Maine Report Cards 102

PYMNTS

AUGUST 6, 2018

Monzo , the digital bank, announced Monday (Aug. 6) that it is making its bank accounts open to anyone in the U.K. In a blog post , the bank said that it won’t be offering a minimalist version of its accounts, but will be offering the same accounts that people over the age of 18 can open with Monzo.

Video 101

Video Digital Banking Apple Google 101

TheGuardian

JULY 23, 2020

Reader ‘devastated’ by bank fraud, plus NatWest refuses to give back money taken by scammer I lost all the money I have after fraudsters called me pretending to be from my bank. It began with a call last month from a woman who said she was from the Monzo fraud team and was flagging up two suspect transactions.

Fraud 69

Fraud Cards 69

PYMNTS

MAY 11, 2018

The new app, which was dubbed “Connected Money,” garnered 13,000 downloads within one day of its rollout, Reuters reported. Through the app, users can take a look at their accounts at up to 21 different banks. and Europe, at HSBC Retail Banking and Wealth Management, told Reuters that the app puts the bank in consumers’ minds.

Mobile 116

Mobile Retail Management Fintech 116

PYMNTS

SEPTEMBER 13, 2019

The FinTech Northmill, which offers cloud-based financial services, was awarded a banking license from the Swedish Financial Supervisory Authority (SFSA) on Friday (Sept. The company submitted an application two years ago and is now all set to become an official bank. and Monzo in London. 13), according to reports.

cryptocurrency 156

cryptocurrency Fintech Innovation Operations 156

PYMNTS

JUNE 13, 2019

Digital bank Monzo, based in the United Kingdom, is crossing the pond. We are taking it slow to start with,” Monzo Chief Executive Tom Blomfield said in the report. “We consumers think and feel about their money.” he said, about 30 percent of users opt to use Monzo as their primary account. In the U.K.,

Digital Banking 119

Digital Banking Los Angeles San Francisco US 119

PYMNTS

NOVEMBER 15, 2016

Banking firm Monzo announced Monday (Nov. 14) it rolled out an update to the Monzo iOS app to enhance the speed and ease of making payments. Friends don’t show up as being on Monzo until they enable payments, noted the company. Monzo said the feature is kept private. In the U.K.,

ATM 100

ATM Cards Fraud Payments 100

PYMNTS

DECEMBER 3, 2019

And London’s digital unicorn Monzo has appointed TS Anil to head up U.S. UK Digital Bank Monzo Taps Visa Exec As US CEO. Monzo, London’s digital unicorn, has appointed TS Anil to lead U.S. Anil was the global head of payment products and platforms at Visa and will join Monzo early next year to head up the U.S.

Fintech 132

Fintech Colorado Payments Operations 132

PYMNTS

NOVEMBER 27, 2019

The Royal Bank of Scotland (RBS) has created an app called Bó with the intention of helping people save money, as well as to compete with other online banking startups, like Starling or Monzo. Other banks in the region have also been developing newer digital services as well. Bó has been available since Nov.

Big Data 130

Big Data Regional Data Online 130

PYMNTS

JUNE 13, 2019

Customers can perform basic functions, like opening accounts, sending and receiving money and getting a regular card. In Australia , users can exchange money with anyone in the U.K. Customers can decide if they want to keep the money in the foreign currency or convert it to their own.

Fintech 100

Fintech Cards Financial Technology Trends 100

PYMNTS

JUNE 18, 2019

Monzo Across The Pond. efforts making tracks on a more global scale, Monzo , the U.K. digital bank, has set up shop in the U.S. Among the account features are no minimum balances and no monthly fees, nor will Monzo pay interest on deposits. banking license in partnership with Sutton Bank. banking charter. …

Fintech 108

Fintech Los Angeles San Francisco Examples 108

Accenture

SEPTEMBER 22, 2019

In my frequent conversations with clients across the UK and Irish banking industry, one of today’s hottest topics is the rise of the challenger banks such as CYBG, Metro and AIB UK, and particularly the neo-challenger banks providing digital-only services, like Monzo, Atom and Starling. Why are they doing so well?

Innovation 150

Innovation Metro Apple Marketing 150

PYMNTS

MARCH 2, 2020

are asking for government intervention in what they call a “farcical” program meant to help business banking after the program experienced a number of setbacks, including one bank returning half of its awarded money, according to a report by the Financial Times. to give customers more choices in banking. million.

Metro 131

Metro Operations National Examples 131

PYMNTS

OCTOBER 5, 2018

An Amazon of banking? The Amazon comparison came from Bialick, who also said that the three-year-old firm is looking to become more of a platform for services from various providers, explaining why it has not applied for a banking license. Revolut, for example, has 2 million users , while Monzo has 1 million.

Comparison 192

Comparison Fintech Cards Capital 192

PYMNTS

OCTOBER 20, 2020

They are the brands tracked in PYMNTS’ Provider Ranking of Digital Banking Apps for October 2020, and the surprise can’t be spoiled because, with two very notable exceptions, there aren’t any. 1 spot on the latest ranking of digital banking apps, with its valuation hitting $14.5 based Monzo stands steady as a beefeater at No.

Digital Banking 140

Digital Banking Millennials Tools Mobile 140

PYMNTS

JULY 7, 2020

That can be seen as a sign of caution, of private investors looking to part with funds only if, as the saying goes, they get more for their money. Also last month, Monzo, the challenger bank based in the U.K., Monzo also has been trying to expand across borders (notably in the U.S.), billion valuation.

Trends 130

Trends Course Marketing Industry 130

PYMNTS

FEBRUARY 11, 2020

FinTech bank N26 , based in Germany, will no longer operate in the U.K. N26 customers will need to transfer deposits, spend all their money or withdraw funds before their accounts close on April 15, 2020. with its European banking license,” N26 said. “The with its European banking license,” N26 said.

Operations 141

Operations Regional Course Fintech 141

South State Correspondent

JANUARY 10, 2024

Ask a banker about the value of their bank, and they will either talk about some derivation of book value or earnings multiple. You might find out that your low cost of funds or higher-than-average net interest margin likely drives the bulk of your bank’s value, but then what do you do? Do you reduce your cost of funds?

Management 195

Management Examples Marketing Millennials 195

PYMNTS

SEPTEMBER 17, 2019

Banks lost about $4 billion to account takeover (ATO) fraud attempts last year and fraudsters have been reluctant to abandon the scheme as this year progresses. Arou nd the Digital Banking World. Banks in other regions are also dealing with data breaches of their own, such as U.K. digital bank Monzo. market debut.

Fraud 196

Fraud Digital Banking Delaware Tools 196

PYMNTS

NOVEMBER 27, 2019

The Royal Bank of Scotland (RBS) has created an app called Bó with the intention of helping people save money, as well as to compete with other online banking startups, like Starling or Monzo. Other banks in the region have also been developing newer digital services as well. Bó has been available since Nov.

Digital Banking 100

Digital Banking Big Data Regional Data 100

PYMNTS

JULY 29, 2020

TransferWise , the online money transfer service startup, is now valued at $5 billion thanks to a secondary share sale as investors embrace online payments amid the COVID-19 pandemic, the London-based company announced Tuesday (July 29). TransferWise boasts a total of 8 million customers across the globe and processes 4 billion pounds ($5.2

Capital 163

Capital Tools Online Company 163

PYMNTS

DECEMBER 21, 2018

Eleven banks have been granted access to a £350 million ($443 million USD) program that will allow for them to take business clients away from the Royal Bank of Scotland (RBS). In exchange, regulators want those funds to be used by competitors to promote bank switching and industry competition.

Metro 158

Metro Regulation Meeting Management 158

PYMNTS

SEPTEMBER 11, 2019

The push toward digital banking seems an inexorable one, with the technology and demographics acting as tailwinds, and where governments have increasingly gotten into the act of promoting digital banks (the pure-play kind) and making forays into bits and bytes, where once paper and face-to-face transactions reigned.

Digital Banking 160

Digital Banking Millennials Mobile Regulation 160

PYMNTS

DECEMBER 4, 2020

4) chose four firms to receive digital banking licenses, including “digital full bank” licenses for Singapore-based Sea Ltd. to receive “digital wholesale bank” licenses. to receive “digital wholesale bank” licenses. MAS expects the new digital banks to commence operations in early 2022.

Digital Banking 164

Digital Banking Groups Meeting Fintech 164

PYMNTS

APRIL 5, 2019

Startup bank Tandem is trying to secure a new investment to help its plans for overseas expansion. Citing sources close to the bank, Financial Times reported that Tandem is in early talks with investors in hopes of securing funds within the next three months. million in 2017, compared to £1.8 million in 2017, compared to £1.8

Security 116

Security Cards Lending Report 116

PYMNTS

OCTOBER 1, 2019

Today in the payments news roundup, challenger banks in the U.K. UK Challenger Banks Struggle To Compete . Challenger banks in the U.K. Challengers like Monzo , Santander and Metro Bank were forecast to put a stop to the dominance of the big four. Amazon To Expand Amazon Go Tech To Other Retailers.

Metro 101

Metro New York City Payments New York 101

PYMNTS

JULY 7, 2019

Sherwood is one of several high-profile people from the banking and financial services industry being added to the board. Customers can perform basic functions, like opening accounts, sending and receiving money and getting regular cards. In Australia , users can exchange money with anyone in the U.K.,

Fintech 122

Fintech Cards Trends Groups 122

PYMNTS

MARCH 5, 2019

Barclays Bank is going to merge its two payment apps into one, in an attempt to be more competitive in the payments field, according to a report by Bloomberg. Other banks are paying attention to the trends as well. Competition is everywhere, especially from digital outfits like Monzo in the U.K., Pingit has 3.6

Apple 134

Apple Operations Payments Trends 134

PYMNTS

SEPTEMBER 12, 2019

All of Mastercard’s issuing partners will participate in this new cashback initiative, including Clydesdale Bank, Metro Bank, Monzo, N26, Starling Bank, Virgin Money and Yorkshire Bank. Santander will join later this year. “As

Retail 129

Retail Metro ATM Resources 129

PYMNTS

JANUARY 27, 2020

Other investors included World Bank’s International Finance Corp., Siam Commercial Bank and BNP Paribas, as well as SoftBank’s spun-off SBI Group. Recent product launches and updates include Currencycloud Spark, which provided multi-currency accounts to banks and FinTechs across more than 35 currencies.

Payments 130

Payments Fintech Software National 130

PYMNTS

OCTOBER 21, 2019

The bank is planning to roll out a “national deposit gathering platform” in 2020 to reel in more attractive rates for its consumer business, Scott Powell, chief executive officer (CEO) of Santander in the U.S., financial statement spans credit cards, car loans and banking, and is considered an important asset among European players.

Metro 101

Metro US Online National 101