Airwallex UK Grows 109% YoY, Driven by Deal Surge; Plans New Products
The Future Of Banking
𝕒 𝕞𝕦𝕝𝕥𝕚-𝕞𝕖𝕕𝕚𝕒 𝕡𝕝𝕒𝕥𝕗𝕠𝕣𝕞 𝕕𝕖𝕕𝕚𝕔𝕒𝕥𝕖𝕕 𝕥𝕠 𝕥𝕙𝕖 𝕗𝕦𝕥𝕦𝕣𝕖 𝕠𝕗 𝕓𝕒𝕟𝕜𝕚𝕟𝕘
👀 NEWS HIGHLIGHT
Backbase, the global leader in AI-powered banking technology, today announced the recent successful platform launch of Libyan Islamic Bank, one of the country’s fastest-growing financial institutions.
This achievement represents Backbase's first platform launch in Libya, underscoring its commitment to expanding state-of-the-art, customer-centric banking across North Africa.
💡INSIGHTS
NOW, ON TO THE SUMMARY OF LAST WEEK'S NEWS
🔦 DIGITAL BANKING HIGHLIGHTS
⭐️ Agrobank launches online account opening in Sabah.
⭐️ Santander UK cuts over 2,000 Jobs amid restructuring.
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🌎 REGIONAL HIGHLIGHTS
UK 🇬🇧
Airwallex UK grows 109% YoY, driven by an uplift in the volume and value of deals, outgrows office space, and plans to launch multiple new products. As the company continues to scale its operations and grow its customer base, it is also aggressively expanding its local team, which has increased 35% YoY and is now well over 100 strong.
Thought Machine partners with Zopa Bank to support the launch of its flagship bank account, Biscuit. Because of this cloud-native partnership, Zopa can provide innovative financial services faster, revolutionising core banking through digital scalability.
Monument CEO Ian Rand says bank is ‘certainly capable’ of turning a profit next year, just not at the cost of long-term shareholder value. Monument Bank is eyeing its first full year of profitability in 2026 after the UK challenger passed £6bn in deposits, up from just shy of £1bn at the end of 2023.
Bulgarian Fibank launched in Greece, and it’s all digital. With a track record of financial stability, rising investor confidence, and an innovative digital platform, Fibank is now setting its sights on regional growth, beginning with a direct market entry in Greece.
Leaked documents reveal Revolut's plans for 2026 product blitz. Europe’s most valuable FinTech plans to offer more lending services in Britain next year, according to sources, with a blitz of previously unreported products set to launch in different countries around the world.
NatWest to deliver buy-to-let mortgages on Landbay. The agreement will see NatWest Group enter the growing Limited Company buy-to-let mortgage market, leveraging Landbay’s award-winning lending platform and extensive broker distribution network.
Starling revaluation jump-starts shares in Chrysalis. They said: The material increase in the valuation of Starling was a function of both the progress made in the core UK bank, but also the inclusion for the first time of a valuation for Engine, its banking-as-a-service technology platform.
EUROPE 🇪🇺
Audi F1 Team inks title sponsorship deal with Revolut. Revolut will make its motorsports sponsorship debut with this partnership. The firm stated that its goal with the partnership is to accelerate its consumer base to 100 million customers. Meanwhile, Revolut is weighing buying a US bank to get a licence. Acquisition would be a faster route for FinTech to start lending in the US than applying for a permit of its own.
Revolut revolutionizes connectivity: eSIM and global data plans for Italian travelers. This innovation allows users to stay connected anywhere in the world, eliminating the dreaded roaming costs and ensuring a stable and affordable connection in over 100 countries.
Orange Money and JUMO offer small loans. According to Orange Money Group, the collaboration will allow it to offer new microcredit services, leveraging JUMO's expertise in asset allocation and credit risk management. Read more
Bling acquires financial education app Finstep. By integrating Finstep's proven learning content, Bling strengthens its position as the leading platform for financial literacy in families. The integration creates a unique ecosystem of financial education, pocket money management, and family organization, bundled in one app that supports families in their everyday lives.
Bitstamp, by Robinhood, partners with BBVA to provide Bitcoin and Ethereum trading for retail customers. Bitstamp is serving as one of the first liquidity providers for BBVA’s new offering, now available to all eligible retail customers in Spain. This enables clients to buy, sell, and hold cryptocurrencies directly through the BBVA app.
USA 🇺🇸
JPMorganChase and Coinbase launch a strategic partnership to make buying crypto easier than ever. This collaboration introduces features designed to enhance access and optionality for our mutual customers. Read more
Lili launches BusinessBuild Program to empower small businesses to build their credit profile. The BusinessBuild Program is designed to change awareness and improve understanding by embedding smart credit-building tools into everyday financial operations.
Klarna prepares for autumn bid to revive $15bn New York float, months after being forced to abort a previous attempt amid tariff-induced market turmoil. The buy-now, pay-later company's Finance Chief has told investors that it is "closely monitoring market conditions and will move swiftly" when the timing is right to launch an IPO.
LATAM
Nubank's partnership with Netflix reveals the new season of Wednesday. The initiative features a film inspired by the series and showcases solutions for customers to take the next step in their finances. Seeking ways to connect with its customers, the company has been solidifying partnerships in the entertainment industry over the past two years.
ASIA
Mox launches digital bank's insurance arm. Mox Insure, with its first product being a personal accident insurance plan called Personal Accident Cushion. The policy covers both local and overseas protection, offering up to HK$2 million in compensation for accidental death or permanent disability.
Superbank hits $1.3M in profit and gains 4 million users. Indonesia's Superbank reported a net profit of 20.1 billion rupiah (US$1.3 million) and nearly 4 million customers in the year since it launched its digital banking application in June 2024.
MOVERS AND SHAKERS
ClearBank appoints David Samper as group CFO. Samper will lead the organisation through its European expansion, as well as its next phase of international growth. Continue reading
Openbank Appoints Gonzalo Pradas as Head of Retail. He will be responsible for the retail business strategy in Spain, Portugal, and the Netherlands, as well as the products and digital platform across Europe. Read more