This week Zopa Bank has crossed the £3 billion deposits milestone, while our customers have collectively opened 150,000 accounts to grow their savings faster in today’s challenging environment. 

Zopa’s ambition is to make the hundreds of billions in “zombie money” sitting idle in UK current accounts work harder. 

Fello, India’s first gamified savings platform, designed for the Gen-Zs and young millennials of India, has raised $4 million in their latest funding round led by US-based Courtside Ventures, with participation from, Entrepreneur First, Ycombinator, Kube Venture and Upsparks. Angel investors, Kunal Shah, Founder of Cred, Lalit Keshre, Co-founder of Groww, Charlie Songhurst, Dafeng and Alan Rutledge participated in this round.

LenDenClub, India's largest Peer-to-Peer Lending platform, with its vision to drive financial inclusion, is building a formidable leadership team as it prepares for its next growth phase. To this effect, the RBI registered NBFC-P2P has made a key leadership appointment and hired Nirmal K. Rewaria as its Chief Business Officer - Investments.

21% of Brits don’t expect to carry a physical wallet or purse in the next five years, rising to 34% of Gen Z and 38% of Millennials.
Demand for wallets diminishing as young people embrace digital payments - more than half (55%) of 18-34-year-olds would rather just carry their phone in place of a wallet or purse.
Research, undertaken in partnership with fashion communication graduates of Central Saint Martins, shows wallets in decline, and are increasingly seen as a site of a personal archive rather than vessels for cash and cards.

Temenos today announced that Next Commercial Bank (Next Bank), a new digital bank backed by Chunghwa Telecom, Taiwan’s largest telecom operator, has gone live on Temenos core banking platform, opening to customers during 2022.

Mercurity Fintech Holding Inc., a digital fintech group powered by blockchain technology, today announced that, on December 29, 2022, the Company’s Board of Directors (the “Board”) has approved to proceed with: 1) the share consolidation and simultaneous change of the ADR ratio; 2) the transfer of the register of members of the Company; and 3) the termination of the deposit agreement.

The Share Consolidation and Change of the ADR ratio

Prepay Nation, a leading global B2B prepaid products marketplace, announces the appointment of Paolo Montessori as the new Chief Executive Officer (CEO). The Board of Directors has chosen Montessori to succeed A.J. Hanna as CEO by January 2023 after a thorough succession planning exercise.  

Over half of European business leaders expect Banking-as-a-Service (BaaS) to make traditional banking obsolete, according to new research from Vodeno/Aion.

The BaaS provider commissioned an independent study among more than 1,000 senior decision-makers within businesses based in the UK, Belgium and the Netherlands. Its report – Banking-as-a-Service 2.0 – Why Embedded Finance will make its mark in 2023 – reveals that 51% believe BaaS will spell the end of traditional banking.

Investing and money management should be on every national curriculum in the world. Unfortunately, though, these vital skills aren’t taught in schools, and people are left to fend for themselves in the world of finance. According to Acquisition International, 80 percent of new stock market investors fail. That’s a scary statistic, but there are ways for people to buck this trend using technology.

2022 was the year businesses emerged from the shadow of the pandemic and the many disruptions it caused. While life has returned to normal for many companies, and some even discovered new growth opportunities, unfortunately, the light at the end of the tunnel is not in reach just yet.