Monzo is ditching free overseas ATM withdrawals after concluding that the feature is costing it too much. However, rather than simply imposing a fee, the UK digital bank is now asking customers to vote on how it should charge them. (more…)
Mobile-first banks
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Moven builds AI into latest app upgrade
By Moven,
Today, the team at Moven is releasing the latest update to their financial wellness platform. The release will be available in the Google Play and App store in the United States, as the team gears up to roll out the innovations for their global bank partners. (more…)
Monzo Teams Up With Deliveroo For New “Split the Bill” Feature
Crowdcube success and fintech company Monzo announced it has teamed up with Deliveroo for a new feature, Split the Bill. Deliveroo designer, James Storer, revealed details about the new app feature:
“At Deliveroo, ‘split the bill’ is probably one of our most requested features, and it’s been on our roadmap since I joined the company over two years ago. In that time, we’ve done email surveys, phone interviews and multivariant tests to try and definitively prove its worth. We also ran a really cool user research session by inviting a group of friends to our research lab (set up to look like a living room) and asking them to relax, watch Netflix and play video games while placing an order. This let us observe their group ordering habits and see how they split the cost between themselves.”
SolarisBank enlists SIA for contactless payment cards in Germany
By SIA
solarisBank, a German banking platform with a full banking license, has chosen SIA, a company specializing in the processing of electronic payments, to support the launch of new contactless debit cards and to contribute to the development of electronic payment solutions. (more…)
Atom Bank targets German retail savings market
British app-only bank Atom is making a move into the German market through partnership with local startup Deposit Solutions. (more…)
UK challenger bank launches as proptech market hots up
Redwood Bank, a new challenger bank providing mortgages to small businesses and professional landlords, has opened its doors four months after it was granted a banking license. (more…)
Mobile banking is shifting gears with PDS2
Mobile devices are the backbone of digital transformation, enabling new innovations such as smart cities and connected cars. (more…)
N26 Update: Challenger Digital Bank Now Has 500,000 Customers (Infographic)
Challenger digital bank, N26, announced this week it now has 500,000 customers. Founded in 2013 by Valentin Stalf and Maximilian Tayenthal, N26 claims to be Europe’s first mobile bank with a full European banking license and it has redesigned banking for the smartphone by making it simple, fast, and contemporary. (more…)
Simple lays off ten percent of staff in bid to return to tech roots
Joshua Reich, the CEO of US digital neo-bank Simple is pledging to return the business to its roots, having spent the past few years “acting like a bank instead of a technology company”. (more…)
N26 now has 500,000 customers for its bank of the future
By Romain Dillet for TechCrunch
Fintech startup N26 is getting more and more customers. The company reported 300,000 customers back in March. It now has 500,000 customers across Europe. (more…)
Millennials and mobile banking – the perfect match?
By Louis Peake – Compass Plus
For quite some time now, millennials have been the primary target market for a vast majority of industries. (more…)
Fidor Bank’s Digital Marketplace Features Nutmeg as Inaugural Partner
Fidor Group has been at the forefront of fintech innovation since it received its banking license in 2009. (more…)
N26 to bring Apple Pay to Spanish customers
By n26
When we recently broke the news that we’ll be bringing Apple Pay to Italy, we received dozens of messages asking when we might introduce it to more countries. (more…)
Monzo disables card features as services go awry
UK challenger bank Monzo has disabled card payments for customers after suffering an unspecified issue with a supplier. (more…)
Leumi launches standalone mobile bank
Israel’s Bank Leumi has launched a standalone mobile bank modeled on consumer use of social media feeds. (more…)
Starling Bank passports to Europe, first stop Ireland
By Steve O’Hear for TechCrunch,
London-based Starling Bank is continuing to gather momentum. After a staggered launch of its current account kicked off in March, the digital-only bank is announcing imminent expansion to Europe, starting with the Republic of Ireland where it has attained a so-called “banking passport”. (more…)
Santander’s Openbank relaunched as 100% digital bank
Banco Santander is overhauling the operations of its direct banking subsidiary in Spain, transferring all IT assets and client transactions to the cloud and revamping its online and mobile presence as part of a group-wide mission to recruit 30 million digital customers by 2018. (more…)
Digital Only Bank Revolut Launches Business Banking in UK & Across Europe
Challenger bank Revolut is launching a business banking vertical and is accepting pre-registrations now. Revolut for business will allow businesses to hold, exchange and transfer funds in 25 different currencies across the UK and all of Europe at the interbank exchange rate. The digital only bank says that users will be able to sign up for a multi-currency account in minutes. (more…)
Atom bank cites regulatory uncertainty – postpones current account launch
By Alex Rolfe
Atom bank, the UK’s first app-based bank, is reported to be delaying the launch of consumer current accounts until at least 2018. Atoms CEO blames forthcoming regulations that make the UK’s personal banking market too “ambiguous and uncertain”. (more…)
Ex-Tandem CTO onboard for Dubai-based digital bank
The former CTO of UK challenger Tandem has joined forces with experienced execs from the more traditional banking sector to build a digital-only bank in Dubai. (more…)
Monzo hits 200,000 users; £250 million spent
As of this weekend, more than a quarter of a billion pounds has been spent through Monzo cards by more than two hundred thousand customers! (more…)
N26 moves into savings market with Raisin API
Mobile-only banking platform N26 has partnered with Raisin to open access to savings accounts from banks across Europe. (more…)
Monzo opens doors to community collaboration
Digital challenger bank Monzo has earmarked a dedicated space in its East London headquarters building as a collaborative community room, to host events and test out new ideas with its growing membership base. (more…)
TSB to hook up with fintechs for new mobile app
by TSB
TSB has begun to rollout its new mobile banking app, which is the challenger bank’s first service built by its new ‘Proteo’ IT platform. (more…)
Starling Bank To Incorporate Pay By Bank For Online Purchases
By PYMNTS
Starling, the digital bank, has inked a partnership with Pay by Bank, the mobile payment app of Vocalink, to enable users to buy things online. (more…)
Orange Bank preps July launch
French telco Orange is to open its new mobile-only bank in July, following a soft-launch with employees this month. (more…)
Simple said to drop 0.7% of its customers in transition snafu
By Brian Patrich Aha for American Banker
A recent fumble in transitioning accounts from its old partner bank to its current one has left Simple scrambling to mollify distressed customers. (more…)
Simple is closing some customer bank accounts, and users are mad as hell
by Ryan Lawler for techcrunch.com
Simple, the online banking service that promised to be a better alternative to big banks like Chase or Citibank, is falling short of some users’ expectations. This time, it comes as a result of the sudden and surprising notice customers received alerting them that their accounts would be closed next month. (more…)
Android Pay Expands To Mobile Banking Apps
Android Pay announced new partnerships with a handful of banks from around the globe, including Bank of America, USAA, Bank of New Zealand, Discover and mBank. (more…)
