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Monzo Faces £21M Penalty Over Compliance

Monzo Faces £21M Penalty Over Compliance

Hey Digital Banking Fanatic! The FCA has fined Monzo Bank £21.1 million, which is about 1/3 of its latest pre-tax profit! 🤯 Monzo CEO TS Anil responded: “The FCA’s findings relate to a historical period that ended three years ago… with our learnings at the time leading to

Revolut Faces UK Licence Delay, Halts Hungary Services

Revolut Faces UK Licence Delay, Halts Hungary Services

Hey Digital Banking Fanatic! Revolut’s regulatory hurdles are piling up. It's still waiting on a key UK credit licence and is now suspending services in Hungary. Meanwhile, Monzo doubles down in Ireland with a fresh €2m investment, expanding its European footprint while Revolut navigates setbacks. And it’

Zopa Opens Second UK Hub in Manchester

Zopa Opens Second UK Hub in Manchester

Hey Digital Banking Fanatic! Zopa, which recently reached 1.5 million customers, is growing across all fronts. The digital bank just announced that, in addition to its London office, it will open a new one in Manchester. The launch is set for early August, with initial plans to recruit around

Revolut, OakNorth Consider LSE’s Pisces Platform

Revolut, OakNorth Consider LSE’s Pisces Platform

Hey Digital Banking Fanatic! Some of the UK’s best-known digital banks, like Revolut and OakNorth, have met privately with over 20 firms to explore joining the new Pisces private stock market, after being approached by the London Stock Exchange. Supported by a new rulebook from the FCA, it is

Circle and Qonto Are Going After Banking Licenses

Circle and Qonto Are Going After Banking Licenses

Hey Digital Banking Fanatic! Quick one before we dive into your daily dose of news updates. For the first time, I am sharing a full media kit that has partnership opportunities with Connecting the Dots in FinTech... at your fingertips. Want in? Just drop your email here, and I will

Klarna’s Neobank Pivot Ahead of U.S. Listing

Klarna’s Neobank Pivot Ahead of U.S. Listing

Hey Digital Banking Fanatic! For all the new products Klarna has launched, and despite public efforts by its CEO to shift perception, the company’s name still evokes “buy now, pay later” for many consumers and investors. This comes as Klarna prepares for a second U.S. IPO, after putting

Spendbase Launches Digital Banking & Virtual Cards to Boost Expense Control for Businesses

Spendbase Launches Digital Banking & Virtual Cards to Boost Expense Control for Businesses

Hey Digital Banking Fanatic! Spendbase, the platform known for helping companies reduce costs on software and cloud services, is expanding into digital banking, providing businesses with even greater transparency and control over their spending. With this new offering, companies can now: * Instantly open EU and UK IBAN accounts * Move money