Revolut

Digital bank which launched first savings accounts in Ireland in May reduces deposit rates to 1.7% from November 28th

Banking and Payments Federation of Ireland launches campaign to highlight risks from text message fraud

Monzo’s valuation pop comes days after damning FCA report into Starling Bank

Current account charges can catch consumers unawares so is there any way of cutting those costs?

And how can we avoid falling victim to them?

Online platforms makes it easier to invest directly but if you are bypassing brokers, be advised that it’s always a gamble

Neobank said to have narrowed date for launching home loan business here

Seen & Heard: Commercial property enforcement actions, IBRC’s Q City sale, further delay to auto-enrolment pensions scheme and accounts for payroll software company Immedis

Monzo is one of the UK’s highest-profile online banks, competing with Starling and Revolut

Company has more than 2.8 million customers in Ireland

Italian insurance giant Generali acquires business as part of a €2.3 billion deal

Bank data and online services can tell you when bills are due and if your account is at risk of being unable to meet direct debits

Irish firm increases carrying value of holding in neobank to £160m

Securing a UK licence was seen as key in the fintech’s pursuit of a €41bn market valuation and to compete against more established traditional banks

Finding the balance between security, investment and customer experience is something most lenders still need to work on

UK fintech defies broader downturn across the sector

Inside Business podcast with Ciarán Hancock

The best news, analysis and comment from The Irish Times business desk

Online banks are the cats who get the cream in Ireland and should be hit with a super levy in Budget 2025

Authorisation for UK banking licence for Revolut comes less than a month after the company published annual results showing a better-than-expected €398m profit last year

The company offers cold comfort, asserting the transactions ‘cannot be considered unauthorised’

Nonbank lender drastically reduced home loan business as interest rates soared

There are dark sides to the convenience of inter-family financial transactions in terms of data harvesting and ‘caring surveillance’

Early next year Revolut says it will start offering mortgages in Ireland, although significant questions remain as to how that will work

Inside Business podcast with Ciarán Hancock

Fintech’s huge customer base here makes it a true competitor to Irish lenders

Irish customer base at 2.7m at end of 2023 and on track to breach three million this year

The best news, analysis and comment from The Irish Times business desk

Company sets sights on increasing Irish customer base to above 3m in 2024

Target would be at least 20% than $33 billion valuation Revolut achieved in 2021 fundraising

European automakers such Volkswagen and BMW slipped around 1 per cent after European Commission said it would impose duties on imported Chinese electric vehicles

Looking outside the traditional banks will open the door to much more competitive interest on your savings

Nonbank lenders are targeting niche markets as banks still hold whip hand on the most competitive interest rates

More than €100m was swiped from consumers in Ireland in various frauds and scams last year, according to data from the BPFI

If travelling outside euro zone, consider getting your cash before you go or prefund a card and always watch out for the small print on things like ATM withdrawals

The number of Aer Lingus flights booked through Revolut Pay or with a Revolut card rose 22% in the first quarter of 2024

Move piles pressure on the domestic banks which offer much lower rates

Financial platform tries to steal march on mainstream lenders with higher yielding savings accounts

Credit unions top the annual RepTrak study for 2024, with only X found to have a worse reputation than RTÉ

Bankinter decision to target savings rates will be welcomed by Irish customers who largely have their money in ‘on demand’ accounts offering paltry returns