The world’s largest crypto exchange is ditching its decentralized structure to appease regulatory concerns as it could no longer ignore consecutive bans across the globe.
Recognise’s jump into deposits lands it in a busy SMB banking space: The UK neobank cleared its last hurdle and became fully authorized after a regulator lifted a cap on its deposits. Its next challenge will be standing out from other banking players.
Monese’s venture into BaaS will run up against earlier movers:The UK neobank’s platform will help financial institutions customize their digital banking offerings—but it will compete head-on with similar ClearBank and Starling products.
In an exclusive Q&A with Insider Intelligence, Michael Naggar talks about his role in evangelizing the adoption of Agile processes and how this transformation impacts Citi’s business culture.
The pandemic has changed customer expectations, providing a welcome boost to insurtechs’ and Big Techs’ user growth and forcing insurers to adapt.
Influencer marketing is no longer just for beauty and fashion: The pandemic-induced interest in personal finance opened the door for a boom in “finfluencers,” or financial influencers.
Following rollouts in Ireland and France, Square launched an early access program in Spain, where it can capitalize on rising digital payments use.
The US banking giant will launch its first international retail presence this week. Its resources, market experience, and patience about attaining profitability suggest that it could be a formidable player.
BofA gets validation for digital results: The bank said it won Global Finance’s Best Consumer Digital Bank in the US—and its recent news updates on marketing and patents show it continues to give top priority to digital plans.
Twin Flexes may muddle Monzo’s message: A UK fintech’s buy now, pay later (BNPL) product has the same name as the neobank’s—and it has some advantages over the first Flex. This complicates things for Monzo, but a bad outcome isn’t a given.
Here’s a look at some of the latest news from our Payments & Commerce analysts.
Established fintechs are increasingly commanding funding—and the space’s maturation will herald more exits and pressure from investors to demonstrate a path to profitability
Monzo’s BNPL offering could boost its bottom line: Its new Flex product includes longer repayment periods that come with interest—but transparency and a retroactive BNPL choice could make customers more comfortable with taking on debt.
Fifth Third’s healthcare neobank deal bears early fruit: Provide beat its expected loan performance in August—indicating that the recently acquired player’s focus on a large professional niche could benefit the incumbent’s bottom line.