Will fintech banks survive falling interest rates?

Will fintech banks survive falling interest rates?

Fintech lenders have accelerated their swing to profitability after interest rates spiked. The UK’s neobanks pocketed record revenues in the last 12 months. Revolut’s takings grew 72 per cent topping £3.1bn. Meanwhile Monzo’s revenue hit £1bn for the first time. But this came as interest rates maintained a post-financial crisis high of 5.25 per cent in the first half of 2024. Lenders have benefitted from rising rates on the back of the global pa…