Revolut Tops Fraud Complaints List (Again) + Open Banking News
Hey Digital Banking Fanatic!
Open banking isn’t just a buzzword anymore; it’s going global.
MoneyGram and Plaid just expanded their partnership to Europe, rolling out pay-by-bank capabilities across key markets after a successful U.S. launch.
That means MoneyGram customers can now directly connect their bank accounts via Plaid’s rails to fund cross-border payments—making international transfers faster, more seamless, and (hopefully) cheaper.
Now, I know I share a lot of great Revolut news updates in here… but it’s not always gold. ⚠️
Fresh data shows Revolut has received more fraud complaints than any other bank for the third year running, topping the Financial Ombudsman’s list with over 3,200 cases so far this year—well ahead of Monzo and Barclays.
Not exactly the kind of leaderboard you want to be on.
It’s another reminder that the digital banking boom comes with both breakthroughs and bumps.
Scroll down for more stories that are shaping the industry today 👇
Cheers,
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NEWS
🇬🇧 Revolut receives more fraud complaints than any other bank for the third year running. Revolut customers have submitted a total of 3,208 fraud complaints to the Financial Ombudsman Service as of 2025 to date, according to a Freedom of Information request.
🌍 MoneyGram and Plaid expand open banking partnership to Europe. Following its successful U.S. launch, the integration now enables MoneyGram customers in Europe to easily connect and authenticate their bank accounts through Plaid's trusted open banking technology, providing a new seamless and secure option to fund international payments across key European markets.
🌍 Trade Republic introduces child savings products in France and Spain. In France, the new Child Savings Plan offers free ETF savings plans and passes on the full ECB interest rate of 2% annually, with certain Vanguard ETF fees reimbursed until the child turns 18. In Spain, the Child Account mirrors the same conditions as adult accounts, offering unlimited savings at 2.02%, positioning Trade Republic ahead of local rivals.
🇧🇷 Neon and Creditas report losses in the first half of the year; PicPay and C6 increase profits. Expanding credit portfolios, rising revenues, and cost management are highlights for non-publicly traded FinTechs in the first six months of 2025. Continue reading
🇿🇦 Capitec hits 25 million clients as profits surge 26%. The Bank announced headline earnings that surged 26% to R8 billion for the six months ending August 2025, capping off another period of impressive growth that has left traditional competitors scrambling to keep pace.
🇪🇸 BBVA lets customers use Apple AI to create their own card designs. BBVA customers in Spain with an iPhone 15 Pro or a newer model can head to the cards section in their banking app, select the Visa card they want to personalise, and either use one of their own images as a base or describe the image they want to create.
🌍 BBVA teams with SGX FX to launch retail crypto trading in Europe. The integration, marking a first for the European market, the companies said, will initially support bitcoin and ether, offering 24/7 trading with the same framework BBVA uses for foreign exchange.
🌍 Backbase makes wealth management push with Senior hires in the US, Asia, and Europe. Joseph Sullivan has joined as Senior Director of Strategic Accounts in the US. In Singapore, Kai Jebens has been named Regional Sales Director, and Piotr Wybieralski has been appointed Senior Sales Director in Switzerland, based in Geneva.
🇦🇪 Nium and Emirates NBD Expand Real-Time Payments in the UAE and Plan Saudi Launch. Yousuf Saeed Mohd, Group Head of Priority and Personal Banking and Retail Banking Sales at Emirates NBD, emphasized the bank’s commitment to innovation, stating that its growing partnership with Nium enhances the delivery of fast, secure, and affordable remittance services across multiple markets.
🇬🇧 Thought Machine lands £45M funding round after losses widen. “The funding supplements the company’s cash position and will be used to finance the company’s growth and continued investments in its product development,” the firm said in a statement.
🇸🇬 Banking Circle appointed Kirit Bhatia as its new Chief Digital Assets Officer. His leadership will support the development of embedded digital asset solutions, enabling clients to manage fiat and digital assets side by side, with secure, 24/7 treasury services and competitive yields across major currencies.
🇺🇸 Baselane announces $34M in new funding, debuts AI-powered tools to automate banking and bookkeeping for real estate investors. Baselane will use the new round of funding to scale its go-to-market efforts and accelerate product innovation, transforming how individual real estate investors operate and make decisions.
🇦🇪 ADCB poaches Emirates NBD's digital Chief, Pedro Sousa Cardoso. Cardoso brings extensive international experience, having previously worked at Portuguese digital bank Banco Best, Denmark's Saxo Bank, and in various digital leadership roles at Standard Chartered across multiple markets.
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