Stripe Acquires Again | NatWest Buys Mortgages | Monzo US Savings Jars | Mastercard & Ampere Team Up | Mbanq Launches Banking Apps
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Hey Fintech'ers ??
Welcome to the Sunday, August 4th edition of ?? Fintecher Stories!
The first week of the 2024 Paris Olympic Games has concluded, delivering thrilling moments and outstanding performances. With another week to go, fans are eagerly anticipating the remaining events and medal ceremonies. ????
As the world enjoys summer vacations and good weather, take a moment to catch up on the latest fintech news. ????
In this issue, as with every edition, we spotlight major events and trends shaping the fintech landscape. Stay updated with global headlines, emerging innovations, and new fundraising opportunities transforming the financial sector. ????
Thank you for being a valued reader. Let's get started! ??
Delving into the leading 5 fintech stories of the week:
??? Story 1: "Stripe Continues Acquisition Spree in Fintech Market" ??????
??? Story 2: "NatWest Acquires Metro Bank's Mortgage Portfolio for ￡2.5 Billion" ??????
??? Story 3: "Monzo Introduces Interest-Bearing Savings Jars for US Customers" ????????
??? Story 4: "Mastercard Partners with UK Neobank Ampere for Card-to-Card Payments" ????????
??? Story 5: "Mbanq Unveils New White-Label Mobile Digital Banking Apps" ?????
?? Story #1
TechCrunch by Mary Ann Azevedo / Jul 30, 2024 at 6:07 PM
Stripe has acquired Lemon Squeezy , a 13-person startup specialising in global sales tax for digital products, marking its third acquisition in 14 months. CEO Patrick Collison announced plans to significantly scale merchant of record selling, primarily benefiting SaaS and software businesses.
?? Story #2
Mortgage Solutions by Anna Sagar / Aug 3, 2024 at 3:43 PM
NatWest has agreed to purchase a ￡2.5bn portfolio of UK residential mortgages from Metro Bank (UK) , involving around 10,000 customer accounts. The acquisition, set to reduce NatWest's CET1 ratio by fewer than 10 basis points, aligns with NatWest's growth strategy and recent acquisitions. Metro Bank aims to enhance its risk-adjusted returns and lending capacity, focusing on higher-yielding commercial and specialist mortgages. The sale supports Metro Bank’s strategy to reposition its balance sheet for improved capital ratios.
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?? Story #3
FF News | Fintech Finance by Lauren Towner / Aug 1, 2024 at 1:37 PM
Monzo Bank has introduced interest-bearing Savings Jars for its US customers, offering an impressive 4.25% APY for those with a qualifying direct deposit and 2.25% APY otherwise. With no fees, instant withdrawals, and a $1 minimum, customers can manage up to 20 Jars. CEO Conor Walsh emphasized Monzo’s commitment to making saving easy and accessible, enhancing Monzo's customer-centric product suite.
?? Story #4
PYMNTS / Aug 2, 2024 at 3:13 AM
萬事達卡 and neobank Ampere have teamed up to offer enhanced services for small businesses, enabling card-to-card payments that convert over 60 currencies faster and cheaper than traditional banking. This partnership aims to address SMEs' financial challenges by providing efficient, digital solutions. Ampere's recent expansion across Europe empowers SMEs to manage cross-border transactions seamlessly, mitigating issues like cash flow disruptions, inflation pressures, and outdated payment systems.
?? Story #5
Business Wire / Aug 4, 2024 at 2:04 AM
Mbanq has introduced a new suite of white-label digital banking apps, designed for credit unions, banks, neobanks, FinTech platforms, and brands. These customisable apps support web, Android, and iOS platforms, offering digital onboarding and a wide range of integrations. The ready-to-use solution accelerates time to market and reduces development costs. CEO Vlad Lounegov emphasises that the apps provide modern financial experiences without lengthy development, reflecting Mbanq's commitment to innovation and customer-centric solutions.
And that's a wrap fintech'ers, till next week. ????
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