New banks, Podcasts

The Challengers 3: Revolut’s perfect PR storm — Ant Financial worries incumbents — Stash adds banking

  • This week's episode drills down into Revolut's recent PR struggles.
  • Josh and Zack also discuss Ant Financial, Stash's new bank accounts, and Chime ringing the funding bell.
The Challengers 3: Revolut’s perfect PR storm — Ant Financial worries incumbents — Stash adds banking

This week on the podcast, Josh and Zack dig in to what’s happening at Revolut and why the firm isn’t catching a break right now from all the negative PR.  Next up, Josh talks about a conversation he had with major European and Asian incumbent banks and which competitors they’re really concerned with. Lastly, we talk about Stash and the rebundling of financial services.

Revolut’s PR woes

Revolut has been dealt a slew of negative news lately. Probably the most damning was a Wired article about its culture and hiring process. The Wired piece shows the company as an aggressive hirer that often requires applicants to do unpaid work before they’re offered a job.

Also, Revolut’s CFO recently left the firm and there are worries about ties to the Russian government (which CEO Nik Storonsky has refuted). A politician in Lithuania, where the firm received its e-money license, has accused the firm of meddling in the country’s elections.

Zack cited a sarcastic article about what to say if you want to succeed in a Revolut job interview. Spoiler: saying ‘shit’ goes a long way.

Ant Financial taking over

Josh mentioned that he was at the OurCrowd Summit last week with 18,000 registered investors and entrepreneurs. He sat with leaders at incumbent European and Asian banks. Josh started peppering them with questions. They aren’t concerned at all by the rise in challenger banks. Nor do they seem overly worried about Facebook, Google, and Amazon possibly eating into their profits.

They are, however, palpably interested in what Ant Financial is doing in Europe.

Chime raises a big round

US challenger Chime Bank raised $200 million and officially received unicorn status with a $1.5 billion valuation.

Stash gets into banking
Investment app Stash launched debit accounts and a new form of rewards program. Stash’s Stock-Back rewards customers with factional share purchases of stock in the companies where they spend money. Every time a Stash cardholder pays a Netflix or Spotify bill, she’ll receive 5 percent of her purchase in NFLX or SPOT.

New banks, Podcasts

Behind the scenes of OakNorth’s mortgage product launch with CFO Cristina Alba

  • OakNorth is a UK challenger bank that's really focused on SME lending.
  • The company recently launched a mortgage product aimed at the same entrepreneurs.
Zack Miller | May 23, 2019
New banks, Podcasts

BankMobile’s Luvleen Sidhu on T-Mobile MONEY, banking college students, and leveraging partnerships for growth

  • T-Mobile now offers banking services and a very aggressive interest rate.
  • Through this white label partnership, BankMobile reaches more end customers.
Zoe Murphy | May 21, 2019
Banking as a service, Finance Everywhere, Payments, Podcasts

Why community and regional banks use Currencycloud to power their international payments offerings

  • Currencycloud has made a business out of servicing international payments offerings for other businesses.
  • Richard Arundel, co-founder and the general manager of his firm's North America business, joins us on the podcast.
Zack Miller | May 17, 2019
Future of Investing, Podcasts

Say’s Byron Sorrells on using technology to give individual investors a voice

  • Say uses technology to help investors understand what they own and participate in ownership.
  • The company gave Tesla investors with just a few shares the ability to participate in a recent earnings call.
Zack Miller | May 16, 2019
Payments, Podcasts

Binji launches, wants to be the only card in your wallet

  • Consumers have a lot of credit cards to manage.
  • New banking app Binji provides an innovative hardware and software solution for card consolidation.
Zack Miller | May 15, 2019
More Articles