Starling Bank has created not only a digital bank offering but a digital marketplace where both businesses and individuals may access a growing array of 3rd party services. Other examples of approved 3rd party providers include the Department for Work and Pensions, Raisin UK and Fintechs Currency Cloud, Pockit, PelicanPay, and Vitesse. SumUp is the latest offering.
SumUp is said to be currently in use at over 1.5 million businesses. The terminals can be used with an accompanying app or via a standalone 3G card reader. (more…)
via WIRED UK
Digital banks aren’t going anywhere – with Monzo, Starling Bank, Revolut and N26 starting to rival legacy banks. Perhaps best known for their personal finance apps, they are now also starting to sell financial products. And there’s a lot more to come.
Meanwhile, traditional high-street banks are trying to up their game by investing in – and imitating – their digital offerings. Last month, for instance, NatWest began trialling Mimo, a new personal finance app with budgeting tools, spending insights and reminders. It will be rolled out later in 2019. Barclays, HSBC and others are also jumping on the bandwagon and adding features to their existing mobile banking apps. (more…)
Revolut, Monzo, Starling Bank, Currencycloud, Aire, Blockchain, MarketInvoice, Quantexa, Nested and Salary Finance were revealed to be among the 24 most dynamic and fast-growing late-stage technology companies to be chosen to join Future Fifty’s 2019 cohort.
Founded in 2013, Future Fifty works to champion the best British technology companies and provide support as they embark on their scale up journey on a national and international level. Alongside this, the programmes helps the organizations create jobs and inspire the next generation of entrepreneurs. (more…)