challengerRSS

Starling Bank expands to offer business accounts

starling bank

Starling Bank, one of the first banking challengers to offer a mobile-only current account in the UK, is expanding into the business market.

Douugh rises to occasion for AI-powered banking

Neon brain. Cpu. Circuit board. Abstract technology background. Vector illustration. Eps 10

Banking challenger Douugh has unveiled its artificial intelligence (AI) powered financial platform, guided by “Sophie” – a 24/7 personal assistant for finances. Andy Taylor, founder and CEO of Douugh, says: “We believe the future of banking is about platform, data and identity.” Douugh plans to use Sophie to offer better financial decisions for consumers. Services […]

UK challenger Bank of Lambeth preps for launch

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London-based Bank of Lambeth is getting ready to enter the UK’s highly competitive challenger bank arena. The community bank is the brainchild of Duncan Law at Transition Town Brixton. The latter is an initiative that looks to new ways of dealing with climate change, and energy and financial issues. In a report in the Brixton […]

Tandem Bank cuts staff numbers as funding slumbers

Temporarily bank no more...

UK challenger bank Tandem is axing 30 jobs after its £29 million in funding fell through earlier this year. A source has told Business Insider that Tandem has “reduced its staffing levels from around 110 to close to 80. The headcount reduction includes both redundancies and contractors who have not been renewed”. As Banking Technology […]

Challenger Iam Bank to launch in UK

Iam Bank

The UK will be getting yet another challenger, with Iam Bank – calling itself the “Apple store” of banking – preparing to launch online and with branches. Iam, which is headquartered in Chicago, has unveiled its website and like many new banks is targeting millennials. It plans to roll out free learning and therapy-based financial […]

Starling Bank developer portal goes live

starling bank

UK challenger bank Starling has unveiled its developer portal to enable third parties to access customer data and build on top of its platform using APIs. As Banking Technology previously reported, Starling launched its mobile app and is welcoming the first customers through its digital doors to join a beta testing programme. It also recently […]

UK challenger Redwood gets banking licence

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Redwood Bank, a new UK-based SME challenger, has secured a banking licence following approval from the Financial Conduct Authority (FCA) and Prudential Regulation Authority (PRA). As Banking Technology reported in October last year, Acorn Financial Partners (AFP) submitted a banking licence application. Now that it has authorisation, AFP is called Redwood Bank. Redwood says it […]

Tandem pauses savings products plans, House of Fraser not to invest further

Tandem and House of Fraser

UK challenger bank Tandem is not to receive any further investment from retail chain House of Fraser. House of Fraser invested £6 million in December, as part of a planned £35 million injection.

Seconds out for Monzo tech

Mondo is gearing up for beta testing

Mobile-only challenger bank Monzo has been hit by tech issues for the second time this week. As Banking Technology reported on 6 March, payment outages caused major problems to cardholders and fintech services provides in the UK and internationally – and Monzo was one of the affected firms reporting issues with their payment processor. Today […]

US challenger Clear launches AI-powered bank

Clear Bank US

Clear, a New York City start-up, has launched the “first” artificial intelligence (AI) powered bank for start-ups. The Clear account is designed specifically for start-ups and small business owners to manage their finances through a single banking portal. Its platform lets users ask questions and receive answers without having to look at any spreadsheets or […]

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