This comes just month after the Revoluts CFO David MacLean stepped down (among others).

Some of Europe’s top challengers are dealing with a drop of digital downloads in recent months. This signs that the COVID crisis could mean a huge threat to them.

The digital challenger submitted the application on Monday. For a US banking licence to be approved, it could take up to two years for Monzo's application.

Capgemini and Efma published World FinTech Report 2020 revealing traditional banks have an opportunity to thrive in today’s market by embracing Open X and becoming Inventive Banks.

The coronavirus crisis has already made senior executives from Monzo, Lloyds and Revolut to slice down their own personal income.

The Chancellor has announced support worth £1.25bn for UK start-ups and businesses driving research and development in some of the most dynamic sectors of the UK economy – ranging from tech to life sciences.

Global fintech platform NIUM has partnered with Geoswift, an innovative payment technology company connecting China and the rest of the world, to enable overseas customers to remit money into China. The tie up allows NIUM’s customers worldwide to send funds directly to a receiver’s UnionPay card account with 14 banks in China in real-time, and another 50+ within 48 hours[2].

Google is likely going to push into banking and this could include a parallel to the Apple Card.

Revolut challenger bank's staff are being offered shares in exchange for lower take-home pay. This comes as the company seeks to tighten its belt in light of the COVID-19 pandemic.

Banco Santander has launched a cross-border payments app PagoFX in the UK, taking on the might of rival fintech unicorn TransferWise.

CaixaBank and Global Payments are building on a series of partnerships to build a joint prepaid venture in Europe.

Lunar decided to offer simplified stock trading service to people who haven’t traded before but might have more time on their hands than usual.

Lifetise, a UK Fintech firm has launched a web app that shows people the best course of action to take based on their individual circumstances if they’re self-employed or freelance, and quickly determine the government support options available to them.

SWIFT has made the decision to cancel the fintech conference Sibos 2020 in Boston due to the coronavirus pandemic.

Some of the top bosses at Barclays are donating a third of their fixed salary over the next six months to help kickstart a £100m aid package.