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Hi dear reader,

This week we not only bring you the essential news in the FinTech industry but we also would like to invite you to take a look at our website and more importantly, our member's area, which we continue to update and grow, this week with a brand new company profile of non-other than Oakbank, the British digital bank, one of the fastest-growing business in Europe. 

Keep reading for your week's indispensable FinTech intake...😉

Klarna extend all-in one shopping app

Klarna, one of the fastest -growing consumer ecosystems, is extending its app to allow UK consumers to view full online order history. In a bid to become a general-purpose shopping companion, each customer’s history will be accessible regardless of whether they made the purchase with Klarna or not. 

The new feature provides consumers with a single dashboard providing a full inventory of their purchase history and product details, including images, prices, delivery status, package location and pickup information. This will eliminate the time-consuming effort of sifting through multiple emails or tracking parcel information across different delivery apps.

To activate the service customers connect either their Gmail or Outlook email account to their Klarna App. The app then identifies online purchase confirmation emails and imports key data such as product images and price, delivery tracking number, carrier, and parcel tracking into the Klarna App. 

Source : Fintech Finance News
 


Source: Klarna

Starling and Monzo beat the big banks in customer satisfaction survey

Digital challengers Starling and Monzo have been ranked above high street banks as the top personal and business current account providers in the UK. A survey carried out for the government, which quizzed thousands of individuals and small businesses, saw Starling and Monzo share first place for personal current accounts and first and second respectively for business accounts.

Royal Bank of Scotland was ranked worst personal account provider, with Virgin Money and TSB also performing poorly. 

Starling’s win for best business bank comes shortly after it reported its first full year of profit last month, equating to £32.1m pre-tax, and the scrapping of its Ireland expansion. Read more here.

Source: Uk tech
 


Source: C-innovation

Learn more about Starling in our latest deep-dive.


Nebeus and Modulr announce partnership

Nebeus, the European cryptocurrency app has recently announced it will be partnering with Modulr to add fiat accounts, real-time payments and Visa cards to its crypto app.

Barcelona-based Nebeus offers an ecosystem of cryptocurrency services, including an exchange and wallet, crypto-renting and staking, insurance, and crypto-backed lending.

By partnering with Modulr, Nebeus gains access to embedded payment features like Direct Debit, Faster Payments and Sepa Instant. To customers in the UK and Europe, it will also be able to issue branded virtual and physical cards with ‘out of the box’ features like card-freezing, real-time spend notifications and spend controls.

Nebeus can offer each customer a dedicated digital account with unique IBANs (EUR) or Sort Codes and Account Numbers (GBP), as well as a Visa card to spend fiat and crypto currencies. 

Source: Modulr Finance


Remitly to acquire Rewire

Global remittance outfit Remitly is set to pay $80 million in cash and stock for Rewire, an Israeli-based financial services platform for migrant workers. Founded in 2015 with offices in Amsterdam and Tel Aviv, the Rewire app provides migrant workers with money transfer, debit cards, local payment accounts (IBAN), insurance products and the ability to make cross-border bill payments. The transaction is expected to close in the second half of 2022.

Source: Remilty

 


Source: Remitly

Read more about mergers and acquisitions in our blog post.

Revolut launches its credit offering in Romania

Revolut has recently announced that Romanian customers will now be able to apply for consumer loans in their local currency. Romania is Revolut’s second largest market globally with over 2 million customers, comprising about 10% of their user base.

Users will be able to access loans up to RON 125,000 within a few minutes. Consumer loans will be offered with a fixed interest rate throughout the loan period, which can go up to 60 months, while interest rates vary between 6.99% and 15.59%. The app will also allow customers to edit their monthly repayment plans, make direct payments, and check their credit reports.

This service is already available for users in Lithuania, Poland, and Ireland.

Last week, Revolut also attracted over 1.5 million users in 32 countries to its ‘Learn and Earn’ crypto education course. Read more here.

Source: The Paypers

 


Source: Revolut Romania

Learn more about Revolut in our deep-dive.



The C-Innovation Team

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Take a look at our latest report on Starling Bank 
 
Starling Bank: Money-making In Digital Banking

Let us know what your research needs are, we will be pleased to help! Get in touch!

Javier Guevara Torres
CEO

              Contact Javier at javierguevara@c-innovation.eu 
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