Berlin-based digital bank N26 is giving up the US business so it is able to focus on the European market.
The current account switches up 56% compared to this time last year as Starling Bank continues to bolster its customer base.
Exclusive: An interview with Michael Schweikart, a co-founder of the sustainable banking provider Tomorrow
Tomorrow is a social business FinTech company and a neobank, that was started in 2018 by founders Inas Nureldin, Jakob Berndt, and Michael Schweikart with a vision to use money as a lever for positive change. Since its launch in 2018, the company has 50+ employees and 55,000+ customers.
Unlike its competitors, Starling Bank has achieved break-even this October and expects to be monthly profitable from here onwards on an operating profit basis.
This means the London-based digital bank is now offering deposit protection of up to € 100,000 to local customers in the particular markets.
The CEO Anne Boden says the company won’t advertise on Facebook or Instagram ‘alongside scammers who are going after the savings of our customers.
The Monetary Authority of Singapore (MAS) has given permission to Revolut to allow customers to trade gold and silver on its platform.