Mobile-first banks – FinTech Ranking https://fintechranking.com All You Should Know About Fintech Sat, 22 Apr 2023 20:37:15 +0000 en-US hourly 1 https://wordpress.org/?v=5.3.15 https://fintechranking.com/wp-content/uploads/2020/03/ftr_favicon2.ico Mobile-first banks – FinTech Ranking https://fintechranking.com 32 32 96937361 Monzo joins forces with Plaid to open access for US customers https://fintechranking.com/2023/04/13/monzo-joins-forces-with-plaid-to-open-access-for-us-customers/?utm_source=rss&utm_medium=rss&utm_campaign=monzo-joins-forces-with-plaid-to-open-access-for-us-customers Thu, 13 Apr 2023 20:35:00 +0000 http://fintechranking.com/?p=26808 Monzo customers in the US will now be able to connect their accounts to more than

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]]> Monzo customers in the US will now be able to connect their accounts to more than 8000 fintech apps through Plaid’s network.

With the integration, customers can link their Monzo accounts to big US finance apps like Venmo and Robinhood.

The digital bank entered the US last February after abandoning its attempt to secure a bank licence in 2021.

Read more: AltFi

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]]> 26808 Neobanks: 10% now use app-only bank as main account https://fintechranking.com/2023/04/11/neobanks-10-now-use-app-only-bank-as-main-account/?utm_source=rss&utm_medium=rss&utm_campaign=neobanks-10-now-use-app-only-bank-as-main-account Tue, 11 Apr 2023 22:26:00 +0000 http://fintechranking.com/?p=26757 Just 1 in 10 (12 per cent) of UK banking customers use an app-only bank

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]]> Just 1 in 10 (12 per cent) of UK banking customers use an app-only bank as their main bank, according to a recent survey. 

Nearly 2 in 5 (38 per cent) have a digital-only bank account alongside a traditional bank with a branch network.

Accenture found, in a survey of  2400 UK adults in February 2023,  nearly 1 in 3 (32 per cent) still prefer to do all their banking in person. 

Read more: AltFi

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]]> 26757 Bunq applies for US banking license https://fintechranking.com/2023/04/04/bunq-applies-for-us-banking-license/?utm_source=rss&utm_medium=rss&utm_campaign=bunq-applies-for-us-banking-license Tue, 04 Apr 2023 23:16:00 +0000 http://fintechranking.com/?p=26697 European neobank Bunq has applied for a US banking license with the FDIC in the state of

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]]> European neobank Bunq has applied for a US banking license with the FDIC in the state of New York. By applying for a bank charter, bunq brings its proven and user-centered approach to banking to location-independent people and businesses in the US.

The neobank aims to introduce its value-based subscription model to a community of almost 5 million digital nomads – expats, international entrepreneurs, and professionals working remotely – who are EU or US citizens with deep ties on both sides of the Atlantic. 

Read more: Bunq

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]]> 26697 UK’s Atom Bank Secures £30M https://fintechranking.com/2022/11/27/uks-atom-bank-secures-30m/?utm_source=rss&utm_medium=rss&utm_campaign=uks-atom-bank-secures-30m Sun, 27 Nov 2022 09:00:31 +0000 http://fintechranking.com/?p=26088 Atom Bank, which claims to be the United Kingdom’s “first” app-based bank, has reportedly agreed

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]]> Atom Bank, which claims to be the United Kingdom’s “first” app-based bank, has reportedly agreed to terms with BBVA, Toscafund and Infinity Investment Partners in order to add a further £30 million in equity to its balance sheet.

The fundraise should enable Atom to continue to support its lending clients – homeowners, first-time buyers, and SMEs – in this challenging economic environment. It is also another key step in Atom’s plans for growth and a future public markets listing.

Read more: Crowdfund Insider

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]]> 26088 Egypt’s Nexta to launch ‘next-gen banking’ app with fresh $3M https://fintechranking.com/2022/10/20/egypts-nexta-to-launch-next-gen-banking-app-with-fresh-3m/?utm_source=rss&utm_medium=rss&utm_campaign=egypts-nexta-to-launch-next-gen-banking-app-with-fresh-3m Thu, 20 Oct 2022 07:18:41 +0000 http://fintechranking.com/?p=25944 Nexta, an Egyptian startup that plans to launch its banking app in the coming months,

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]]> Nexta, an Egyptian startup that plans to launch its banking app in the coming months, has secured a $3 million investment from eFinance Group, a state-owned provider of digital payments solutions. This news follows the $2 million pre-seed round Nexta announced this March, which Egyptian early-stage VC Disruptech led.

Last year, Nexta obtained a provisional license from the Central Bank of Egypt (CBE) and will look to fulfill further requirements and meet certain obligations before obtaining the CBE’s final approval for the agent banking license it needs to launch its services in the country.

Read more: TechCrunch

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]]> 25944 Majority, a mobile bank for migrants, closes $30m Series B https://fintechranking.com/2022/09/15/majority-a-mobile-bank-for-migrants-closes-30m-series-b/?utm_source=rss&utm_medium=rss&utm_campaign=majority-a-mobile-bank-for-migrants-closes-30m-series-b Thu, 15 Sep 2022 16:36:00 +0000 http://fintechranking.com/?p=25822 Nine months after raising a Series A round, Majority has raised tens of millions in both equity

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]]> Nine months after raising a Series A round, Majority has raised tens of millions in both equity and debt financing for its mobile bank for migrants. The fintech announced today that it has raised a $37.5 million Series B, $30 million of which is in equity financing led by Valar Ventures and other existing investors, and the remaining $7.5 million in debt financing from an undisclosed U.S.-based commercial bank.

In a little over one year, Majority has raised a $19 million seed, $27 million Series A and now a $37.5 million Series B round. Yet, today’s round — mostly fueled by existing investors — feels a bit different, according to CEO and co-founder Magnus Larsson.

Read more: TechCrunch

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]]> 25822 Tonik enables BillsPay feature for hassle-free dues payment https://fintechranking.com/2022/09/01/tonik-enables-billspay-feature-for-hassle-free-dues-payment/?utm_source=rss&utm_medium=rss&utm_campaign=tonik-enables-billspay-feature-for-hassle-free-dues-payment Thu, 01 Sep 2022 15:46:58 +0000 http://fintechranking.com/?p=25773 Neobank Tonik continues to be every Filipino’s partner to easy, stress-free, and accessible banking through

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]]> Neobank Tonik continues to be every Filipino’s partner to easy, stress-free, and accessible banking through its BillsPay feature.  Available through the Tonik app, BillsPay enables users to seamlessly pay their bills on time, without the hassle of long queues and even at the comfort of their own homes – all through a few taps on their mobile phone.

Made possible in partnership with Bayad, a pioneer and leader in the outsourced payments industry, users can settle their dues with a wide range of billers right in the Tonik app. This includes top utilities such as MERALCO, PLDT, Maynilad Water Services Inc., Manila Water Company Inc., Smart, Converge ICT, Pag-IBIG, Easytrip Services Corporation, Metrobank Credit Card, and Visayan Electric Company (VECO). Soon, more merchants and billers will likewise be made available in the app. Payments are posted within 48 hours of transaction.

Users who share a Group Stash can save together to pay a bill. Once the target amount is reached, the Group Stash owner can move it to their Tonik Savings Account so that they may pay the bill.

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]]> 25773 Revolut launches financial app ‘Revolut https://fintechranking.com/2022/08/18/revolut-launches-financial-app-revolut/?utm_source=rss&utm_medium=rss&utm_campaign=revolut-launches-financial-app-revolut Thu, 18 Aug 2022 19:48:00 +0000 http://fintechranking.com/?p=25707 Revolut’s ambition to be the world’s fintech super app is targeting younger people with the launch of Revolut <18,

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]]> Revolut’s ambition to be the world’s fintech super app is targeting younger people with the launch of Revolut <18, aimed at 6 – 17-year olds

With more than 20 million customers worldwide, Revolut has rebranded its existing service for younger people as part of the new launch.

Previously named ‘Revolut Junior’, Revolut <18  has over 1.6 million customers globally and over 350,000 customers in Britain.

Read more: AltFi

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]]> 25707 Toss Bank to allow foreigners to open online bank accounts https://fintechranking.com/2022/05/03/toss-bank-to-allow-foreigners-to-open-online-bank-accounts/?utm_source=rss&utm_medium=rss&utm_campaign=toss-bank-to-allow-foreigners-to-open-online-bank-accounts Tue, 03 May 2022 09:48:00 +0000 http://fintechranking.com/?p=25276 Toss Bank is now the first South Korean internet-only bank to allow foreign residents here

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]]> Toss Bank is now the first South Korean internet-only bank to allow foreign residents here to open an online bank account, the lender said Monday. 

“Starting Monday, all foreigners here are able to open an account as long as they have their registration card,” Toss Bank said in a statement. Foreigners are offered the same service as locals, according to the bank, which was set up last year, four years after rivals Kbank and KakaoBank were launched in 2017.

Read more: The Korea Herald

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]]> 25276 Teen-focused fintech app Copper raises $29M https://fintechranking.com/2022/04/27/teen-focused-fintech-app-copper-raises-29m/?utm_source=rss&utm_medium=rss&utm_campaign=teen-focused-fintech-app-copper-raises-29m Tue, 26 Apr 2022 21:07:00 +0000 http://fintechranking.com/?p=25262 Copper, a digital banking service aimed at teens, has raised $29 million in Series A

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]]> Copper, a digital banking service aimed at teens, has raised $29 million in Series A funding in a “preemptive” round led by Fiat Ventures.

The investment comes just over seven months after the startup revealed it had raised $9 million in a seed round, and included participation from Panoramic Ventures, Insight Partners, Invesco Private Capital and “all existing investors,” according to the company. It has now raised a total of $42.3 million since its 2019 inception.

Since its launch last May, Copper has grown to have more than 800,000 users. 

Read more: TechCrunch

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