focus on the global expansion of its retail banking operations, but recently rolled out small business accounts in both the UK and the US, with plans for additional markets. The offering extends premium retail features to its SMB customers while adding invoicing, payroll, payment acceptance, supplier payments, and API integration for third-party services like Xero and Slack.
Additionally, in the US Revolut charges $49.99 per month for the top business subscription tier, $33 more than its retail product. Scaling the premium business product alone would add significant recurring revenues that the neobank could not tap through retail customers alone. Neobanks that expand into SMB lending have a greater revenue opportunity than solely with SMB account and services bundles. At least up until the pandemic, lending to SMBs has proven a profitable niche for neobanks. OakNorth Bank, for example, caters to small businesses and entrepreneurs with savings accounts and loans, offering loans between £500,000 and £45 million for SMBs.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
United States United States Latest News, United States United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Inside McDonald's whirlwind week and how brands are using TikTok - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web.
Source: BusinessInsider - 🏆 729. / 51 Read more »
Dow tanks 808 points as tech-stock exodus drives worst day since June - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web. Is there a photo of traders on the floor when the market is UP 800 points? We only see them when they're exasperated by downward movement of the market. Thank you 45. Making America Great Again, Again. Joe2020
Source: BusinessInsider - 🏆 729. / 51 Read more »
Insider Transportation: EV startups take a new road to public markets - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web.
Source: BusinessInsider - 🏆 729. / 51 Read more »
How 8 private aviation execs are preparing for loss of business travel - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web.
Source: BusinessInsider - 🏆 729. / 51 Read more »
The life-changing advice that helped me grow my small business - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web.
Source: BusinessInsider - 🏆 729. / 51 Read more »
How a former nurse started a business helping moms become millionaires - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web. I think I have a fever
Source: BusinessInsider - 🏆 729. / 51 Read more »