Starling adds another accolade, topping CMA survey on business banking: In its inaugural year of being included, the neobank placed first in a survey of small and midsize businesses (SMBs) backed by the UK regulator. The results mark the latest accolade for Starling and show that its focus on businesses is paying off.
The neobank hit this lofty level on the back of bagging $750 million in new funding. Insider Intelligence examines the bullish and the bearish cases for whether it’s worth it.
An incoming tide of ad revenue swelled the social media platform’s $10B valuation and funding raise of $700M. Here’s how our Fintech and eMarketer analysts say meme stocks helped.
With Pay Later, SMBs can apply for short-term loans and pay them in equal installments—helping Veem carve out a piece of the BNPL market through B2B payments.
Pairing up the fintech’s products for small and medium-sized businesses (SMBs) with the banking giant’s existing suite will give U.S. Bank a formidable lineup to compete with digital challengers like Brex and Square.
Orion FCU seeks bigger Southeast presence with Financial Federal Bank deal: The acquisition will bring together Orion’s consumer-banking business with Financial Federal’s commercial focus, diversifying its customer base.
RBC hopes kids go from Play-Doh to Mydoh, its children’s financial app: Mydoh, developed through the Canadian banking giant’s venture arm, could build loyalty among children who might be receptive to cross-selling opportunities from a bank they grew up with.
The rich are getting richer
Insurtechs say Medicare Advantage is a key growth driver: Clover Health cited expansion into Medicare Advantage as instrumental to its annual growth in Q2—we unpack the lucrative opportunity in the Medicare Advantage market for insurtechs like it.
Customers still value the ability to visit a physical branch—and banks should accommodate them with a blended approach that incorporates important aspects of both the physical and the digital.
Insurtechs were given days to set up regulatory compliance groups as the government’s crackdown on the fintech ecosystem broadens.
UK banks face tough choices with branches amid possible curbs on closures: The Financial Conduct Authority (FCA), in an effort to keep cash usage availability stable, may limit incumbent banks’ ability to shutter branches. Incumbents may need to explore other options, such as revamping physical formats or sharing spaces with rivals.