Why UK challenger banks haven’t taken on the insurance market
“The insurance community is not necessarily responsive to change,” says insurtech CEO.
Monzo
COVID-19: Highlight of the week
We focus on one particular coronavirus news item affecting the fintech industry.
Monzo cuts 120 jobs in its UK head office
The redundancies account for roughly 8% of the start-up’s workforce.
Monzo’s Tom Blomfield swaps CEO title for president role
US CEO TS Anil will also be the bank’s UK CEO.
Monzo’s valuation plummets 40% to £1.25bn in latest fundraising
The fintech was valued at £2 billion last June.
Monzo bags banking veteran as its new head of global financial crime
Laramy comes from Barclays, Santander and US bank Capital One.
Monzo appoints Sujata Bhatia as its new COO
Prior to Monzo, Bhatia spent almost 16 years at American Express.
Monzo applies for US banking licence
Monzo applied to the US OCC for the licence on Monday.
Will fintech CEOs follow in the footsteps of Dan Price post-coronavirus?
Monzo and Moven’s CEOs have both taken a 100% pay cut.
Monzo’s CEO takes 100% pay cut for 12 months
Senior management and the board will also take a 25% pay cut.
Meri Williams steps down as CTO of Monzo
It is not clear who is taking up Williams CTO responsibilities.
UK challengers Revolut and Monzo combat claims they are going bust
Revolut dubs the claims “fake news”, and Monzo says it is “here to stay”.
Monzo launches first business banking accounts
UK challenger bank steps into the business space with new accounts.
Monzo set to hire another 500 and reintroduce paid accounts
CEO Bloomfield says it is also looking into lending more as a revenue driver.
UK challenger Monzo in talks with SoftBank for £100m fundraising
Monzo’s co-founder met up with the Japanese investor in Mayfair this month.
Monzo bank accused of “freezing accounts for no apparent reason”
A private Facebook group, “Monzo stole our money”, has grown to 1,080 members.
Al-paca it in: Monzo co-founder leaves to farm Alpacas
The co-founder is quitting to focus on family business ‘Barnacre Alpacas’.
Starling and Monzo hike up overdraft charges for bad credit scorers
Starling is currently the cheapest option only going as high as 35%.
Monzo hires Visa exec to lead US push
TS Anil will join the digital bank early next year.
Monzo’s COO quits to launch a grocery start-up
The departure of Foster-Carter is the latest in a few personnel changes at Monzo.
Eileen Burbidge steps down as chair of digital bank Tide
She gave up her role at Tide following a funding round.
Monzo hires new CRO with blue chip banking career
Lisa Nowell leaves ClearBank after just six months.
PayExpo 2019: Monzo COO not so sure it needed to be a bank for its success
His reasons boil down to expensive, slow and heavy hoops since its licence.
Challenger bank bunq launches in UK and 21 other European countries
The bank is active in all EU countries and a handful of EEA ones, too.
Monzo scraps Monzo Plus subscription service, replaces development team
UK challenger presses the reset button on five-month old premium offering.
Monzo to follow gambling block with merchant version
The challenger bank aims to help people reduce negative spending habits.
The uphill battle for European challengers success in the US
Find out if European neobanks can tackle the challenging US market.
Monzo offers new short-term loans
Loans will be loans between £200 and £15,000.
Top fintech stories this week – 9 August 2019
Catch up on FinTech Futures’ top five fintech stories of the week – all in one place!
Almost half a million Monzo customers affected by data breach
The data leak allowed staff engineers access to PINs stored in encrypted log files.
Three lessons traditional banks can learn from their younger siblings
Teamwork, transparency and creating a competitive culture is key.
Top fintech stories this week – 28 June 2019
The very best fintech news this week!
Monzo hits £2bn valuation
The latest funding round raised £113 million.
BofA Simplifies Money Management for Customers Using Third-Party Apps
Bank of America is testing a service enabling its customers who use third-party data aggregators to view their financial information in one place. BofA is testing the capability with two financial data aggregators to enable customers to securely connect data from their bank accounts to third-party money management apps.
