Digital banks have been presenting themselves as a more transparent fairer option than the traditional players; what these newcomers are finding is to scale and reach profitability they will need to figure out a way to lend that doesn’t strike the same tone as customers get from their typical bank; Tandem, Monzo, Starling Bank, Revolut and N26 have all started to roll out lending options in a variety of ways by using a tailored data driven approach; figuring out where the balance lies is the key piece if these banks are truly going to disrupt the banking system. Source.
The UK’s Financial Conduct Authority plans to move forward with overdraft changes in April which would allow for banks to...
One of the challenges for the challenger banks like Monzo, Starling and Revolut is to go beyond the young demographic...
AltFi takes a look at overdrafts in the digital banking market, both arranged and unarranged; their research found that Starling...
UK based digital business bank Tide is seeking to raise close to $80mn after they received the same amount through...
'We have the emergence of great innovation, but it's often in highly regulated industries, where regulators only have very blunt instruments to support that.'
Business Insider shares data on total funds raised by UK-based digital only banks; Atom Bank leads in total funding and is reportedly in process of closing another 100 million British pounds ($124 million) in equity which would bring their total raised to 235 million British pounds ($294.6 million); other players include Tandem Bank, Starling Bank, Monzo, N26 and Monese; Monzo is also in the process of raising money with a Series C funding round. Source
DiliTrust offers a governance suite to meet the challenges of digital transformation for legal departments.
Private credit fund managers are already starting to see an increase in deal flow as traditional lenders shrink their loan...
Funding Circle and Zopa both discussed the rationale for becoming a bank at the AltFi Europe Summit; Funding Circle's Samir Desai talked about three ways online lenders are collaborating with banks and said, "We at Funding Circle have no plans to launch a bank."; comparatively, Zopa is taking the opposite approach and Jaidev Janardana discussed the firm's bank expansion, noting that the firm will be focusing on savings deposit accounts and will be using deposits to fund loans. Source