Plus; Monzo to try again to enter the US; Revolut hoping to get a banking licence with new stock structure
Thanks for the mention, Simon!
Great article. Re regulation and a commitment to open banking, I wonder if, given how hopelessly mega banks behaved in the financial crisis, maybe EU regulators are pushing for ‘open banking’ in order to beat them down? (Thinking especially of EU Commissioner McGuinness speech in March ‘Open Banking to Open Finance’) Simultaneously, they’re both encouraging fintech to grow, and trying to make sure the fintech market is never allowed to become ‘unregulatable’.
All of this plays extraordinarily well for Apple. Possibly more than any other brand, consumers TRUST Apple, and really no one trusts their bank anymore.