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Posts tagged to fintech

Robinhood: Fintech start-up and zero-fee trading app applies for traditional banking service charter

MarketLine

The company has stated “This is a first step towards being granted a national bank charter which would allow Robinhood to offer traditional banking products and services,” a strategy that will please users and potential investors. The move will mean if the charter is approved, the company will be able to offer a full-service bank product alongside its no-fee trading platform. The application will without doubt be supported by the company’s upcoming IPO, said to be worth $5.6bn. The US-based company raised $363m in its latest Series D round of… Read more

Revolut: the Uber of financial services

MarketLine

Traditional banks have long been at an advantage when it comes to customer data due to having access to vast amounts of information that financial technology (fintech) competitors cannot obtain. However, this situation has been changing recently, especially in Europe. New European legislation that was introduced in 2018 called Payment Services Directive (PSD2), and it has put traditional banking products and services under a threat from a new type of digital-first startups. A handful of them have already seen a big growth in users and have broken even operationally. What… Read more