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The Challengers 16: SoFi gets a charter, N26 rethinks product-led growth, Starling goes platform

  • Our Challengers Podcast is back and hosts Josh and Zack catch up on the big news in digital banking.
  • They drill down into what's happening at N26, Marcus, Starling, with BNPL and much more.
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The Challengers 16: SoFi gets a charter, N26 rethinks product-led growth, Starling goes platform

In this episode of The Challengers, Josh Liggett and Zack Miller explore SoFi’s move to get a bank charter and what it may mean for the company, as well as for its platform business, Galileo. Josh and Zack talk about N26’s recent admission that in a push to globalize, it missed the move to crypto.

Lastly, your hosts discuss the UK’s Starling Bank and its move to become a platform. Josh and Zack discuss how good unit economics enable challenger banks — particularly ones focused on B2C — to turn into software plays, supporting banking products and services for other fintechs.

If you’d like to access more of our coverage on digital banking, subscribe to our Banking Newsletter.

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Audio version

Resources mentioned in the show:

  • N26 got it wrong on global expansion and crypto, co-founder admits (FT)
  • Anne Boden confirms Starling’s global launch of banking-as-a-service (AltFi)
  • What’s next for Goldman’s Marcus banking strategy? (The Financial Brand)
  • Revolut launches stock trading in the US (TechCrunch)
  • How will BNPL evolve? (Tom Noyes)
  • Zopa deposits hit £1 billion (Finextra)
  • Investing app Acorns scraps $2.2 billion SPAC (Reuters)
  • SoFi clears final regulatory hurdle to become a bank (CNBC)

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