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Monument, digital bank for the rich, gets UK banking license

A new digital-only bank Monument has received an "authorization with restriction" now aims for the UK’s richest and is set to launch within months.

TransferWise expands its global partnership with Mastercard

Mastercard and TransferWise have expanded their collaboration agreement so that the issuance of cards will be allowed in any market in the...

Nordic challenger Lunar launches business account, a new premium option

The Danish banking app Lunar is now focusing on business banking and has provided 2,000 users with an early access to its business accounts.

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.
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Monzo Bank founder Tom Blomfield is leaving the company

Tom Blomfield who co-founded Monzo Bank 2015, is leaving the digital bank, citing "challenges" from the pandemic, TechCrunch reported.

UK Government voted down BNPL regulation bill

70 MPs have decided to vote down a bill which was supposed to regulate buy now, pay later companies like Klarna, Laybuy and Clearpay.

Curve raises $95 million as it eyes US expansion

London-based Fintech Curve secured $ 95 million in its latest investment Series C funding.

Challenger bank Revolut applied for UK banking license

Revolut has submitted an application for a banking license to the U.K. Prudential Regulation Authority (PRA) and the Financial Conduct Authority (FCA).