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A former founding Revolut executive has struck a deal with Mastercard as he prepares to launch a new banking service. Ricky Lee is in the final stages of launching sync, which has moved a step closer after agreeing a partnership with the US credit card giant. Sync describes itself as an “all-in-one hub” that allows…
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OakNorth has suffered its first two defaults, ending a remarkable four-year run in which the digital business bank saw no loans go bad. The start-up admitted that two property loans have fallen into default, but added that the event has not yet led to credit losses. The bank, said the loans represent less that one…
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Monzo has hired the boss of its new US unit, as it joins other European digital banks in a scramble for the American market. It has appointed TS Anil to the role at the London-based app-only bank, which has three million customers in the UK. Anil will join the firm in early 2020 from Visa,…
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Bunq sold out of its limited-edition green credit cards, which pledges the mobile bank to plant trees to match customer spending, within hours of launch. The Dutch fintech’s metal Founders Edition Green Cards (pictured) sold out within 16 hours going on sale yesterday. The pre-paid Mastercard costs €99 a year and pledges the app-only bank…
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Stock-trading start-up Robinhood has scrapped its move to become a US bank. The Menlo Park, California-based firm said it will withdraw its bank charter application with the Office of the Comptroller of the Currency. The firm, which provides commission-free stock trading through its app, said yesterday’s decision to pull its application is voluntary. It…
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“Bitcoin Loophole review” is one of the most searched for terms in the cryptocurrency industry. Why is that? Well, it’s because Bitcoin Loophole is considered by many to be one of the most well-known automated trading robots, and it allegedly helps users make up to $1k in daily profits from a deposit as low as…
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The Co-operative Bank has launched a new loans marketplace with a fintech platform in what it said is a “UK high-street bank first”. The Manchester-based ethical banking chain to search for a personal loan quote, with a variety of repayment terms, from a panel of British loan providers. The platform will be run by Freedom…
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Zopa backer Augmentum Fintech pushed back the release of its own results, while the world’s oldest peer-to-peer lender races against time to raise up to £150m to secure its banking licence. London-listed Augmentum, led by partner and chief executive Tim Levene (pictured), said its half-year results, which had been expected tomorrow, will now be “delayed beyond the…
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ABN Amro said it will shut down its wallet payment app, due to a lack of interest from customers. The Dutch banking giant said it will end its android service on 20 January next year, because it is only “being used by less than five per cent of our clients with an android smartphone”. The…
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Crowdfunding platform Seedrs and Oval Money have formed a joint venture that will allow European customers to invest in the personal finance fintech’s early-stage funding from one app. The move comes as London-based Oval launches A £1m cash call on the country’s largest crowdfunding platform. This follows a £4m cash injection from Milan-based asset manager…
