Monzo bank is a key market player in the U.K. with more than 4 million customers, now it has confirmed it has closed £60 million in top-up funding. But the paper value of the challenger bank now dropped from £2.0 billion to £1.25 billion.
UK challenger Starling Bank has integrated three new in-app products to its business banking platform.
Challenger bank Revolut introduced a new limit on foreign exchange offering for its free plan.
Russia-based Tinkoff is launching a micro-investing service called Investment Box in its app. This way Tinkoff's customers will be able to save small amounts of money regularly while using their debit cards for purchases.
Some Revolut staff members claim that they have been pressured into leaving their jobs and taking salary cuts as the company applied cost-saving measures.
Monzo, the U.K. challenger bank, will cut up to 120 jobs as a result of the coronavirus pandemic.
UK-based charity Royal Voluntary Service (RVS) selected Mastercard, Starling Bank, and PFS to provide payment cards to NHS volunteer responders during the Covid-19 pandemic.
N26 is a german challenger bank that is live in 25 countries including the US. Last week it has announced survey results from its larger “Big Banking Chat”.
Dutch challenger bunq is adding a new option to its app that lets you donate to charities directly. Bunq is also redesigning the app and launching a public beta test of the V3 version to get feedback from its users.
For a few years now, consumer attitude towards finance and banking has been changing. A rapid rise in digital consumption has resulted in more technology and innovation than ever before, with total fintech investment in Europe skyrocketing to $58.1bn in 2019.*
Monzo has reached a combined total of 135,000 customers for its two premium bank account options since their launch in 2020 and now it extends their benefits.