8.6 C
New York
Sunday, February 5, 2023
Home weekly top 5 news The Everly Summary (weekly TOP5 news)

The Everly Summary (weekly TOP5 news)

Welcome to Everly.eu’s weekly summary. Let’s see the most important news we have covered during the last week in a TOP 5 list!

Revolut Business launched 3 years ago and has been very successful so far. Last week the company announced that it’s business banking option has hit a new milestone of 500,000 customers.

Curve extended its all-cards-in-one service to loyalty cards. The loyalty system now includes retailers like Tesco, Costa Coffee, IKEA, and more.

PayPal launched its ‘Pay in 4’ to compete with Klarna and other ‘buy now, pay later’ based businesses. About 40,000 young people already have a Revolut Junior account in Ireland. Financial API provider TrueLayer has recorded a serious increase of UK consumers using Payment Initiation (PI) during the lockdown.

1st place: Revolut’s business banking thrives as it hits 500k SME customers

Revolut Business has also launched several new products, updated its interface and navigation and added more mobile functionality.

2nd place: Curve all-in-one system now includes loyalty cards

Curve claims that this innovation has been on the agenda for some time, and takes them one step closer to our mission of connecting the customer’s finances in one place to “swap their wallet for Curve”.

3rd place: PayPal enters the installment market with a new BNPL product

This new service is an expansion of PayPal’s existing products, like PayPal Credit’s revolving credit line and its Easy Payments.

4th place: Revolut Junior account successful in Ireland

Aurelien Guichard, product owner, Revolut Junior, says: “Conversations about money typically start at home and we believe these skills are gained little by little, through experience and with help of parents and guardians.”

5th: Open Banking payments up 832% during lockdown accoring to TrueLayer

The majority of growth (88%) was from people with bank accounts held at incumbent banks such as Lloyds or Barclays, with account holders at challenger banks such as Monzo and Revolut accounting for 12% of growth.

Thanks for joining us and be sure to subscribe to our Twitter account to get more exciting fintech news every day!

Jan Cerny
Jan is an innovation enthusiast and Fintech news reporter. He specializes in news distribution, social media, and content analysis.

Recent posts

Partnership between Credits and Unlimint

Credits is a digital neobank that combines many financial services into one application, focusing on providing financial services for the cryptocurrency space.

UK Neobank Zopa Raises £75 Million in All-Equity Investment

The company has 850,000 customers across its different businesses and is on track to be profitable for the full year in 2023, the first time since its founding 17 years ago.

UK SMEs Lean on Business Finance and Credit for Growth and Sustainability

As interest rates remain high, borrowing will continue to play a significant role in helping these businesses achieve their goals.

UK FinTech Funding: A Resilient Performance Amid Global Decrease

Despite the decline in funding for UK fintechs, there are still investment opportunities available.