LONDON — British challenger bank Monzo‘s new customer acquisition rate appears to be hockey-sticking. Tom Blomfield, co-founder of the new bank, told Bank Innovation today here that Monzo’s weekly — yes, weekly — debit-card customer growth rate hit 8.7% last month. Blomfield said Monzo, known as Mondo until August, nowRead More
Post Tagged with: "United Kingdom"
In a stunning vote, British citizens decided to leave the European Union, and the so-called Brexit has not just profound implications for fintech, but creates massive uncertainty for global financial services. “How can we be so stupid?” tweeted Eileen Burbidge, a partner at Passion Capital and FinTech Envoy of HMRead More
Soon, there will be 1.5 million chances for you to bump into Apple Pay. That’s because Apple Pay is expected to be in 1.5 million locations in the United States by the end of 2015. Last week, Apple Pay launched in the United Kingdom, and scored 250,000 locations “on Day One,”Read More
What happens to branch performance when bankers’ profit motive is severely altered? That’s the question that struck me as I read about HSBC’s decision to nix sales “targets” for the bank’s UK branch employees. Instead, HSBC will compensate its staffers based on “customer satisfaction,” although it is unclear exactly howRead More