UK digital banking pioneer Monzo reported its financial results for the 2023-24 fiscal year today.
The numbers are impressive. Total revenue was £880 million for the year, more than 2x the £356 million from the previous year.
Being a direct-to-consumer fintech can be expensive and difficult.
The path to profitability is often a long and winding one, so we have seen several companies pivot to B2B in the last year or so.
We learned a couple of weeks back that the former head of Marcus, Swati Bhatia, had taken a job at Santander to lead U.S. consumer and business banking.
Yesterday, we learned more details about what this new job is going to entail.
The SEC has not had a great track record in court cases against crypto firms in the last few months. And another important case is playing out right now in a New York federal courtroom.
Back in June of last year the SEC sued Coinbase arguing that it was operating illegally and that it should register as an exchange and be overseen by the SEC.
The Synapse debacle continues.
Former FDIC Chair Jelena McWilliams is the court-appointed trustee managing the bankruptcy process. She was appointed on May 24.
There is never a dull moment in the Banking-as-a-Service space. Treasury Prime is the latest company to make news in the space.
One of the problems with making loans like BNPL such a standard part of the checkout is that they are...
Banking as a Service (BaaS) continues to be in the crosshairs of the federal government.
The latest banks to be hit with consent orders from the FDIC are Sutton Bank and Piermont Bank.
Yesterday, the CFPB proposed supervision of “larger nonbank companies that offer services like digital wallets and payment apps.”
We learned back in February that Klarna's AI chatbot was doing the work of 700 people.
Today, Klarna is reporting about its employee's internal use of AI. It's internal AI assistant, named Kiki, is answering 2,000 employee questions a day and over 87% of its employees are now using it.