Dutch challenger bunq has seen growth in deposits and is hiring new staff as other neobanks are cutting jobs.

Santander bank which has its HQ in Spain, said on Thursday it would hire 3,000 IT professionals worldwide this year to support its digital transformation. This comes when most banks are cutting jobs and costs.

Swedish 'buy now - pay later' unicorn Klarna has partnered with the German online deposit marketplace platform Raisin to expand it’s offering in the German market.

Challenger bank Revolut introduced a new limit on foreign exchange offering for its free plan.

TransferWise is a UK-founded digital money transfer fintech. Now it has hit £2 billion in deposits for its multi-currency accounts.

Traditional financial institutions have always been resistant to change; after all, managing and reducing risk is essential to running a successful bank. After decades of building processes to minimise risk, innovative digital technologies, like open banking, often face resistance from traditional operations.

Last week, we reported on Revolut forcing some staff to leave their jobs without severance - citing underperformance or making them quit on their own accord for just a slice of severance. Since Revolut has not really addressed the issue publically so far, let's take a look at how has the CEO addressed it in messages he sent to his employees.

Russia-based Tinkoff is launching a micro-investing service called Investment Box in its app. This way Tinkoff's customers will be able to save small amounts of money regularly while using their debit cards for purchases.

Blockchain tech-giant Ripple is continuing its penetration across Asian markets partnering with payment service providers in Thailand, Malaysia, and South Korea.

Curve is a UK based banking platform that consolidates multiple cards into a single card and app. According to a TechCrunch report, Curve is quietly testing its “Klarna rival” option.

Nordic digital bank Lunar has launched an account and card designed to help teenagers better manage their money.

Some Revolut staff members claim that they have been pressured into leaving their jobs and taking salary cuts as the company applied cost-saving measures.

Monzo, the U.K. challenger bank, will cut up to 120 jobs as a result of the coronavirus pandemic.

SMEs, especially the smaller ones, have struggled to access sufficient credit in recent times. The COVID-19 pandemic has certainly exacerbated the situation, but let’s not forget that this battle has been going on for years now.