CHIME

Neobanks pose latest threat to prepaid card issuer Green Dot

11/08/19

Earlier this decade, a boom in low-cost prepaid cards undercut the firm's business model. Now the fiercest competition is coming from venture capital-backed startups that offer accounts with no overdraft fees.

[more]

Challenger banks already had trust issues. Then came the service interruptions.

10/23/19

Outages last week at Chime and Varo Money have executives on the defensive.

[more]

Third-party glitch disrupts services of two popular challenger banks

10/17/19

The payment processor Galileo suffered what it described as an "operational incident" that caused more than 24 hours of outages at the fintechs Chime and Varo Money.

[more]

Small bank’s big digital goal: Launch 3 niche banks

10/01/19

Surety's first online bank, booyah, is aimed at college students and young grads.

[more]

Why fintech rollouts are magnets for fraud

09/16/19

Hackers go in for the kill when challenger banks and others launch retail products. So the companies are forced to step up their defenses — fast.

[more]

Challenger banks apply pressure with fee cuts

09/08/19

Charging customers $40 for a $10 overdraft “makes no mathematical sense,” Chime CEO Chris Britt says in a critique of traditional banks.

[more]

Varo to offer limited overdraft protection to some customers

08/27/19

Its latest feature makes it one of several mobile-only challenger banks in the U.S. that do not charge overdraft fees of any kind.

[more]

A fintech innovation that may be hard for traditional banks to swallow

06/26/19

Challenger banks promote the concept of empathy in banking, which sometimes means forgoing revenue to build up customer goodwill.

[more]

Chime reports big user growth, but rival Varo questions numbers

06/13/19

The CEO of the digital-only bank Chime says it has quadrupled its membership in a year. So why doesn't his counterpart at Varo believe him?

[more]

German-based Challenger bank N26 still 'on track' for 2019 U.S. launch

04/01/19

As N26 schedules its launch for midyear, it will face off against other startups and mobile-only spinoffs from incumbent financial institutions.

[more]