Starling Bank has been fined 29 million pounds ($38 million) for failing to implement proper financial crime controls. The U.K. Financial Conduct Authority (FCA) announced the penalty against the neobank Wednesday (Oct. 2), noting that it stemmed from problems first identified in 2021. The fine comes amid a...
Dutch neobank Bunq is reportedly launching a hiring spree as it aims to expand. The company’s chief executive told CNBC in a report posted Thursday (Sept. 13) that Bunq plans to expand its staffing levels by 72% this year, from 427 employees to 735, as it prepares to move...
Starling has just finished its third profitable year amid plans to expand its software operations. The British neobank on Wednesday (June 12) released its annual report, showing a 54.7% increase in pre-tax profits, to 301.1 million pounds ($384.3 million). The firm’s revenues rose by 50.6% to 682.2...
England’s Metro Bank has reportedly secured $1.1 billion from investors following a rocky week. As Bloomberg News reported Sunday (Oct. 8), the funding package is comprised of a £325 million capital raise, comprising £150 million ($183 million) of new equity and £175 million ($213 million) in new MREL...
October 03, 2022
If the Middle East was late to the neobank party, the United Arab Emirates, at least, is making strides toward the future of digital banking. In an interview with Jayesh Patel, CEO at UAE-based neobank Wio Bank, he said that the new platform emerged out of “trying to understand what the needs of the next […]
June 29, 2022
By the end of the year, more than half of the 10 largest neobanks will be offering clients cryptocurrency products. So said Mark Daly, vice president of growth at Zero Hash, a...
March 29, 2022
The U.K. is widely considered a leader in the implementation of open banking, the regulation mandated by the European Union’s Revised Payment Services Directive (PSD2) that compels retail banks in...
February 03, 2022
For a very large population of customers in the United Kingdom who are ‘credit invisible’ — meaning they have little or no credit history with credit agencies — accessing credit...
December 17, 2024
South Africa-based digital bank Tyme has achieved unicorn status with the help of fellow FinTech Nubank. The company announced Tuesday (Dec. 17) that it had raised $250 million in a Series D funding round, bringing its value to $1.5 billion. Among Tyme’s investors is Nubank, a 110-million-member digital lender based in Brazil. Tyme, whose TymeBank has more than 15 million […]
October 02, 2024
Starling Bank has been fined 29 million pounds ($38 million) for failing to implement proper financial crime controls. The U.K. Financial Conduct Authority (FCA) announced the penalty against the neobank Wednesday (Oct. 2),...
September 12, 2024
Dutch neobank Bunq is reportedly launching a hiring spree as it aims to expand. The company’s chief executive told CNBC in a report posted Thursday (Sept. 13) that Bunq plans to expand its...
June 12, 2024
Starling has just finished its third profitable year amid plans to expand its software operations. The British neobank on Wednesday (June 12) released its annual report, showing a 54.7% increase in pre-tax...
