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.
Multiple sources confirmed that Meri Williams, who joined Monzo bank in September 2018, announced internally that she was departing.
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.
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.
ATM network Link said their customer's usage of the cash machines and cash has fallen by 50% during last week.
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 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.
Founded in 1886, Banca Sella is one of the better-known banking institutions in Italy.
The German challenger bank made the announcement last week on LinkedIn and it was met with great praise.
Challenger bank Revolut applied for UK banking license and ex-Standard Chartered chief Richard Holmes is supposed to aid the process.