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Peter Trebelev, Head of Growth at Rizq: “The market is so saturated, that only niche propositions have the potential to survive.”

Rizq is a UK-based Islamic digital challenger bank and it is preparing for its launch this summer. The challenger bank aims to solve mainstream banking issues for Muslims in the West, which is in line with their values and lifestyle.

Monzo’s CEO won’t take his salary for 12 months

Monzo bank's CEO Tom Blomfield is forgoing his salary for a year. Monzo is also offering voluntary furloughs to its employees.

CTO of UK challenger bank Monzo Meri Williams steps down

Multiple sources confirmed that Meri Williams, who joined Monzo bank in September 2018, announced internally that she was departing.

How is COVID-19 reshaping the fintech work environment

The coronavirus pandemic is obviously having a major impact on the world economy, and although tech and digital companies, including fintechs may be in the best shape ever, they are still facing the consequences in various ways.

“Imagine no branches” Nearly 70% of bank branches to disappear in the next 10 years

The Covid-19 outbreak is having irreversible impacts on the banking industry already. Above all, it forces banks to shut their branches. And digital challengers such as N26 are quick to jump on the opportunity to change customer behaviour for good.

As stores in the UK close, cash usage drops to half

ATM network Link said their customer's usage of the cash machines and cash has fallen by 50% during last week.

Revolut and Monzo combat rumors of their collapse

The upcoming economical crisis caused by the Covid-19 pandemic makes people focus on the financial health of the so far non-profiting fintech companies as Revolut and Monzo are.

Revolut finally launches in the United States

The London-based company Revolut is one of Europe's most valuable fintech startups and has just launched in the U.S.

In 2020, European digital payments will hit $802 billion transaction value

According to data gathered by Finanso.se the European digital payments market is expected to hit a record $802 billion transaction value in 2020, which means a 9.9% yearly growth rate.

SoftBank is selling $41bn in assets to cover debt and buyback stock

SoftBank Group announced this Monday it is going to sell up to $41 billion in assets to finance a stock buyback, reduce debts and increase its cash reserves.

Italian Banca Sella now also provides Bitcoin trading

Founded in 1886, Banca Sella is one of the better-known banking institutions in Italy.

JPMorgan Chase closed 1000 branches

JPMorgan Chase closes approximately one-fifth of its bank branches to help to stop the spread of COVID-19.
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N26 welcomes Subhashini Simha as Global Director of Product Marketing

The German challenger bank made the announcement last week on LinkedIn and it was met with great praise.

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 nominates Richard Holmes to oversee its UK bank license application

Challenger bank Revolut applied for UK banking license and ex-Standard Chartered chief Richard Holmes is supposed to aid the process.

Wirex raises £3.7m through crowdfunding

Wirex is operating in 130 countries with 3.1m registered users and is a crypto-currency payments platform that launched the world’s first Visa crypto-enabled payments card.