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Banking customers are increasingly opening multiple accounts, particularly the younger generations, with up to a third of Millennials and Gen-Zs having opened at least two new accounts in the past... more

The post One new bank account opens every 6 seconds in UK appeared first on Payments Cards & Mobile.

In the last couple of weeks two Challenger banks have hit the UK. N26 is a German direct bank, headquartered in Berlin, that offers its services throughout most of the... more

The post Why the High Street banks should start to be concerned by the Challenger banks appeared first on Payments Cards & Mobile.

BFC Bank, owned by BFC Group, is the latest bank to launch in the UK promising to act as a new, specialist bank that offers reliable, safe banking services to Small and Medium Enterprises (SME’s), Payments Service Providers (PSP’s) and Money Service Providers (MSP’s) that trade internationally. BFC Bank makes it clear that it has [...]

The post BFC Bank launches in UK as specialist provider to PSP’s and MSP’s appeared first on Payments Cards & Mobile.

House of Fraser is reported to be investing £35 million into the app-only challenger bank Tandem to offer financial services. The investment is reported be part of a tie-up between the startup and House of Fraser, according to a release from Tandem. The department store wants to offer financial services to customers through its partnership with [...]

The post House of Fraser invest £35 million in challenger bank Tandem appeared first on Payments Cards & Mobile.

Challenger bank Mondo raised £1m in a record-breaking one minute and 36 seconds on crowdfunding platform Crowdcube. Mondo was forced to suspend its initial launch date for the crowdfunding rise earlier this week after a rush of applicants from eager investors overwhelmed Crowdcube servers. Up to 6000 people had registered to take part in the [...]

The post Mondo raises £1m in under a minute appeared first on Payments Cards & Mobile.