Auto lender Ally Financial Inc on Tuesday has announced it’s buying subprime lender CardWorks for $2.65 billion. Ally Fin. looks to diversify its consumer product offerings, supported by a growing and low-cost deposit base.
Tom Blomfield who co-founded Monzo Bank 2015, is leaving the digital bank, citing "challenges" from the pandemic, TechCrunch reported.
Revolut has submitted an application for a banking license to the U.K. Prudential Regulation Authority (PRA) and the Financial Conduct Authority (FCA).