Monzo’s 100,000 business accounts are much-needed good news: The neobank reached this milestone just 18 months after its product launch—a development that stands out against the backdrop of the company’s concerns about its viability.
Mastercard gets shot at European open-banking growth with Aiia: The credit-card giant plans to integrate features from the European API provider with Finicity— a combination that has a shot at becoming a de facto open-banking technical standard.
The new offering lets customers designate accounts that can be automatically scoured for funds if an overdraft occurs. It’s another example of an incumbent co-opting what’s been a competitive advantage for challengers.
The country adopted Bitcoin as legal tender on Tuesday, but we have reservations as to how a decentralized currency designed to operate outside government control will support its economic goals.
As the consumer-facing BNPL market heats up, these banks could find success thanks to their strong user bases and acceptance foundations.
StanChart aims to join Singapore’s growing digital banking space: The banking giant plans to operate a digital bank in the country through a joint venture—making it the latest to dive into this emerging market.
The UK-based neobank is looking to do buy now, pay later (BNPL) trials in Europe next year—and it could quickly find a following within its large customer base.
Jeeves raised $57M to expand to more countries and help companies keep foreign exchange rates low, giving it an edge over other startups in the space.
PayPal wants to expand its in-store digital payment solution and card business as cash use falls across Europe.