Category: Finance

Digital banking on the rise

Digital-only banks, also known as neobanks, are redefining the future of banking around the world. Though off to a slow start in the US due to high regulatory barriers, recent developments and the loosening of regulations suggest that US neobanks are set to take off. San Francisco-based neobank Chime has attracted over 2 million consumers

Tesco Bank bought over by Lloyds.

In a face-off with rivals, Lloyds Banking Group has had a hard fight to finally snap up Tesco Bank’s mortgage business for approximately ₤3.8 Billion. Because of this deal, more than 23,000 residential mortgage customers will transfer to Lloyds-owned business Halifax, cementing its title as Britain’s biggest money lender. The sale of the portfolio is