bunq Is Expanding on Two Fronts
Hey Digital Banking Fanatic!
This week, bunq wasn't just adding customers. It was adding businesses, too.
The company launched its Banking-as-a-Service platform across Europe and introduced local Italian IBANs after reporting 200% user growth in the country over the past year.
That's an interesting combination.
While most neobanks are still focused on growing their customer base, bunq is expanding in two different directions at once: growing its consumer business while opening its banking infrastructure to other companies.
Italy is quickly becoming one of bunq's most important markets, while its new BaaS offering gives businesses access to everything from accounts and payments to cards and compliance through bunq's banking infrastructure.
It's a reminder that many digital banks are evolving beyond the original neobank model. Some are becoming global banks. Some are becoming technology platforms. Some are trying to do both.
And speaking of where banking may be heading next, keep scrolling to see the technologies attracting the most attention across the industry today. AI and digital assets continue to dominate the conversation, but the next major banking trend may still be waiting around the corner.
See what else is shaping Digital Banking. 👇 See you tomorrow!
Cheers,
INSIGHTS
➡️ AI and digital assets are attracting more attention than any other banking innovation today.
NEWS
🇦🇪 HSBC and Mastercard accelerate growth of digital B2B payments with launch of mobile virtual card solution. The new solution connects businesses to a comprehensive range of benefits through Mastercard’s mobile virtual card app, which enables virtual commercial cards to be effortlessly added to digital wallets.
🇳🇱 bunq opens banking-as-a-service to industry. The platform enables businesses to build financial products on top of bunq’s API, leveraging the neobank’s banking, security, and payments capabilities while expanding its reach across the European technology ecosystem.
🇮🇹 bunq focuses on Italy with the launch of the Italian IBAN. Users can now have an Italian IBAN alongside five other European IBANs (Netherlands, Germany, France, Spain, and Ireland), giving them complete freedom to manage every part of their financial life through fully functional accounts in one app.
🇳🇿 FinTech Revolut launches a business platform for New Zealand SMEs aiming for 'north of 50,000' business customers over the next five years. The company aims to address pain points faced by SMEs by offering a unified platform for payments, payroll, cards, and expense management.
🇺🇸 Anchorage aims to bring banks on-chain with a new tokenized deposit platform. The platform is designed to help financial institutions offer 24/7 payments and settlement services, reflecting growing interest in bringing regulated bank money onto blockchain-based rails without replacing existing core banking systems.
🇬🇧 Starling appoints former HSBC Europe CEO Colin Bell as Chair. This strategic leadership transition aims to bolster Starling's international expansion and SaaS growth via its Engine platform, leveraging Bell's extensive experience in global commercial banking and regulatory compliance.
🇩🇪 Former N26 board member Jan Stechele moves to the top risk management position at PAYONE. Subject to formal regulatory approval, he will assume responsibility for the entire risk management and IT operations of the joint venture.
🇺🇸 Backbase acquires Kasisto, leading the industry shift to Agentic Banking. The deal adds Kasisto’s agentic AI technology and banking-specific intelligence, enabling Backbase to help banks automate customer interactions and workflows through AI agents designed for regulated financial services.
🇺🇸 SoFi deepens AI-powered trading ambitions with Composer deal. The deal aims to make sophisticated, institutional-style investing tools more accessible by allowing users to build, test, and execute trading strategies using plain-language prompts.
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