Tag: Challenger Bank

April 22, 2024

The bank, which has been lending to UK-based SMEs since 2020, reports that its revenues increased 141% in the 12 months up to 31 December, standing now at £191 million. Filing a 75% increase in customer deposits to £2.6 billion, […]

November 9, 2023

The round also saw existing investor Dubai Investments acquire an additional 7.68% equity stake in the challenger, increasing the group`s holding in the bank from an initial 9.25% to 16.93%, subject to regulatory approvals. While the latest funding has taken […]

October 5, 2023

Walsh will be tasked with executing the digital bank’s stateside strategy, product development and growth, marking the bank’s latest attempt to live out its American dream. The bank has spent the last few years laying the groundwork for this move […]

May 6, 2021

Chime, which launched in 2013, is not a bank, but partners with The Bancorp Bank and Stride Bank to offer its customers financial products such as debit cards and Federal Deposit Insurance Corp. (FDIC)-insured deposits. The California agency claims Chime […]

October 30, 2020

The entrant wants to offer coordinated checking and savings accounts. Like many up and coming new banks in the US, it offers no maintenance fees, and no minimum balance requirements. Its unique offering is a “karma account” through which users […]

August 3, 2020

It says coronavirus disruption casts “significant doubt” on its ability to continue as a going concern. However, net losses widened as it ramped up spending on marketing, technology and staff. The amount spent by Monzo customers also rose to £10.9 […]

July 6, 2020

The filing states that the termination occurred on 17 June 2020, nearly a full month after news of Blomfield’s new role broke. He made headlines back in May when it was revealed that he would step down from his role […]