Haboo Money Partners With Griffin to Improve the Loan Repayment Experience
Weekly news up to Monday, 21st of April 2025
👀 NEWS HIGHLIGHT
The days of tellers greeting customers by name and offering small-town service at local bank branches are fading as U.S. Bank, a longtime fixture in many communities, prepares to close several nearby locations, starting with the Blackfoot branch on April 30.
The Blackfoot closure is one of several branch shutdowns scheduled in southern and eastern Idaho over the next month. The Montpelier branch closed earlier this week on April 17.
NOW, ON TO THE SUMMARY OF LAST WEEK'S NEWS
🔦 DIGITAL BANKING HIGHLIGHTS
⭐️ Capital One’s $𝟯𝟱 𝗕𝗶𝗹𝗹𝗶𝗼𝗻 Deal for Discover Gets the Green Light.
⭐️ Country with 11,000 citizens installs first-ever ATMs in 2025.
⭐️ Virtual Cards Surge In SA: Safety, Convenience Drive Adoption.
⭐️ Inflation Down Further To 2.6% Raising Hopes For Bank Rate Cut In May.
🌎 REGIONAL HIGHLIGHTS
UK 🇬🇧
TS Anil, CEO of Monzo, is joining TechCrunch’s StrictlyVC London lineup. Known for his global leadership background and steady hand at the helm of one of Europe’s most prominent FinTechs, Anil brings a unique perspective on the future of money, trust, and digital innovation.
Allica Bank nearly doubles profits. The growth was driven by significant investment in digital infrastructure, leading to a surge in revenue as the digitally-native bank grew its loan book to over £3 billion and customer deposits surpassed £4 billion.
Africa’s fastest-growing FinTech Moniepoint enters UK market with launch of remittance product. The MonieWorld application, available via the App Store and Google Play, allows UK customers to send money to Nigeria seamlessly, making financial transactions easier.
Monzo surpasses 12 million customers. This milestone comes on the back of strong product momentum, with Monzo giving its customers even more visibility and control over their money with multiple new products and features over the past year. Read more
Haboo Money partners with Griffin to improve the loan repayment experience for lenders and borrowers. With this partnership, Haboo is going to offer a save-as-you-repay wallet that helps borrowers pay off their debt in a more flexible way.
New report suggests 79% of Londoners are open to ditching traditional banks for digital options. With the rise of mobile banking technology, a growing number of digital, branchless banks are emerging across the UK, offering a seamless and convenient banking experience.
EUROPE 🇪🇺
Revolut is preparing to sell mortgages in the Czech Republic. It has already introduced its Revolut Bank and plans to launch additional products like credit cards and loans in the future. The firm has also already accumulated 1.16 billion in deposits in Spain and has reached 4.5 million customers. In the past year, it added 1.5 million new users in Spain, bringing its total to 4 million.
Revolut launches new payment terminal for Portuguese companies. The Revolut Terminal offers fast, reliable service with Wi-Fi and SIM connectivity, long battery life, and support for major cards and mobile wallets. It also includes Revolut Pay, to pay directly through the Revolut app and earn loyalty points for discounts or rewards.
USA 🇺🇸
Starling Bank coming to U.S. to sell core software. Starling Bank has registered its software unit, Engine, as a limited liability company in Delaware. It is exploring potential East Coast office locations for Engine in Florida, North Carolina and the District of Columbia.
Bank of America to pay $540.3 million after ruling in FDIC lawsuit. The FDIC sued Bank of America for $1.12 billion in 2017, alleging that the bank failed to honor a 2011 rule that changed how banks report risk exposure to counterparties and thereby reduced its deposit insurance contributions.
bunq completes first phase of US banking license filing as it reports its second consecutive year of profits. The company has filed for a broker-dealer license as part of a two-phase strategy to enter the US market. This step will enable bunq to gather operational insights and user feedback before reapplying for a full banking license later this year.
LATAM
Ualá enables unlimited, instant dollar purchases via app following regulatory shift in Argentina. Users can also invest their dollars immediately through Ualá’s Dollar Mutual Fund, which starts from just $1 and offers an estimated 6% annual return.
Nubank has launched a debt renegotiation campaign in Brazil, named “Recomeço,” offering discounts of up to 99.9% to eligible clients. The initiative aims to assist customers in regaining financial stability by providing personalized options for settling overdue credit card and loan balances.
Nu México has reportedly been granted authorization to obtain a banking license in the country. The green light was given during the most recent Board of Governors meeting of the National Banking and Securities Commission (CNBV). With this license, Nu México will join a group of just over 50 banks currently operating in the country.
Revolut launches interest-bearing account and begins Credit Card tests in Brazil. The goal is to expand its banking services and become the primary bank for its users. At the same time, the company has introduced instant access savings for under 18s. 'Revolut 18' is designed for children aged 6-17, and is linked to a parent or guardian's account. It said this new feature aims to empower children to make their pocket money earn money.
ASIA
Singapore Gulf Bank: Embracing cryptocurrencies and new banking services under a compliant framework. It combines crypto-friendly services with strict compliance supervision to provide a new banking solution for crypto users and digital nomads who are ignored by the traditional financial system.
Uzum Bank issues 1.5 million cards and launches nationwide access to plastic cards. Anyone in Uzbekistan can easily order both plastic and virtual cards, making secure and convenient banking more accessible and contributing to financial inclusion by bringing modern financial tools to every corner of the country.
AFRICA
Zain unveils ‘Bede’ FinTech platform in Sudan. The safe and secure platform will empower Zain customers nationwide to carry out a wide range of financial transactions directly via their mobile phones, without the need for a traditional bank account or card.