UK Fintech News Roundup: The Latest Stories 31/08
Every Wednesday we delve into the latest fintech updates from across the UK. This week we see a challenger bank partner with a charity event in London, fintechs reach milestones and more.
Chase partners with new London fundraising initiative
chase Bank has announced its support for a new fundraising initiative Only for one night. The initiative launches its first event on 11 October 2022 at London’s Union Chapel, which will see Ed Sheeran perform to collect donations.
Chase has become an official partner of the event, alongside ASOS and M&S, which aims to raise money for the 24/7 confidential mental health text support service, Reveal.
Deborah KeayHead of UK Marketing for Chase, commented: “We are proud to support For One Night Only in partnership with Wellstock to raise money for Shout. Times are financially tough for millions of people across the UK and periods of uncertainty can make it’s harder to prioritize your mental health and seek support. Research shows that the cost-of-living crisis is causing adults across the country to worry more, which has a negative impact on their overall mental well-being.”
The VIP program rewards its most loyal customers
The online provider of payment solutions AstroPay has launched its new VIP program; enables all of its eligible customers to receive promotions, unique experiences, dedicated support and more.
The AstroPay users with the highest transaction levels will be selected to become part of the VIP program. The launch comes as the business looks to reward its most loyal customers.
Sara RitaChief Commercial Officer of AstroPay, said: “We are thrilled to launch the new VIP program. This is a testament to our focus on meeting the needs of end users, so that those who have a close relationship with us and continue to use our services , feel especially valued. We are constantly providing our customers with new and creative offers, and this year we plan to give out thousands of rewards.”
Revolut reaches customer milestone and launches advertising campaign
Financial app Revolut has launched its biggest ever brand campaign across the UK; just after the announcement of reaching a milestone of five million customers in the UK.
Entitled ‘Your Way In’, Revolut’s campaign aims to challenge stereotypes in finance through billboards, bus and subway posters, TV commercials, digital marketing channels, podcasts and more.
Quentin Luce, global head of integrated media at Revolut, said: “We’re excited to share a campaign that speaks to the money underdog. The most rewarding opportunities in money have not been available to most of us. They have been too expensive, too complicated or too difficult for all of us to access. Revolut changes all that. Revolut is a simple app that unlocks a world of money that most people never thought possible and gives people the confidence to make the most of it.
“As we celebrate reaching five million customers in the UK, we want to empower more people to do things they haven’t been able to before and invite them into a club that’s open to everyone.”
Zopa is celebrating a significant landmark
Zopa, the British challenger bank, has reached a milestone of its own; has attracted over £2 billion in deposits since its foundation in 2020.
The announcement means Zopa has become one of the fastest challenger banks to reach the milestone. This comes as the bank looks set to make billions in ‘zombie money’ sitting idle in UK current accounts and working harder for people in its various savings account offerings.
Since the bank’s foundation, it has also issued around 350,000 credit cards and has over £1.5bn of loans on its balance sheet.
