Fintechbits

Topic

Digital Banking news

Digital banking covers the institutions themselves: neobanks and challenger banks, the charters and licences that let them hold deposits, and the core banking platforms they run on. Fintechbits follows the slow, expensive business of becoming a bank (OCC applications, federal trust charters, EU licences and the rejections that come with them) and the product decisions that come after: deposit accounts, overdrafts, savings rates and the economics of each. Coverage includes Chime, Revolut, Monzo, Nubank, Bunq and Varo, and the infrastructure vendors behind them such as Mambu and Thought Machine. Where a story is really about how money moves rather than who holds it, it belongs under payments.

New to the subject? Start with the explainers: What is Banking-as-a-Service?, What is open banking? and How do business deposits at fintechs work?

Latest developments

More than 15 million SoFi members can now buy Prudential term life insurance inside the SoFi app. LemFi, a remittance app for migrants, added UK savings, a revolving credit line and eSIMs, and the new credit line has no published limits. Lumin Digital moved seven banks and credit unions onto its digital banking platform, and Emprise Bank, a $2.8 billion Kansas lender, will move its core to Maximum's AI-native platform.

Based on

Summarised with AI from the Fintechbits articles above and checked against them. How we use AI

Latest digital banking coverage

Looking for older coverage? Browse every story by month