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...
The United Kingdom has taken a significant step to bolster its position as a global FinTech investment hub by launching a £1 billion investment fund, announced Wednesday (Aug. 16) by UK FinTech Growth Partners. The fund, called the Fintech Growth Fund, aims to support growth-stage...
In business, sometimes, the strategy is to be first — jumping into markets with new products and services, striving to capture consumers’ mind share, wallet share, and loyalty. And sometimes, the strategy can be to follow, but to be better and bigger, too. In financial...
As U.K. consumers become ever-more open to digital banking, the range of services offered by digital-first banks has been expanding to meet that demand. But depending on the products and services offered, traditional banks have not completely lost consumers to disruptive FinTech players, as consumers’...
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...
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 profits, to 301.1 million pounds ($384.3 million). The firm’s revenues rose by 50.6% to 682.2 million pounds ($870 million), while total deposits crept up 4% […]
October 08, 2023
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...
August 16, 2023
The United Kingdom has taken a significant step to bolster its position as a global FinTech investment hub by launching a £1 billion investment fund, announced Wednesday (Aug. 16) by...
August 25, 2022
U.K. challenger bank Zopa reported Thursday (Aug. 25) that its deposits now total more than £2 billion, driven by its offer to help customers do more with money that would...
