fincog benchmark on challenger banks' features and profitability · 2019. 11. 6. · sources:...

Number of customers as per the most recent data availableValuation as per the most recent funding roundFinancial data converted to USD, based on the following exchange rates: GBP / USD = 1.23 ; EUR / USD = 1.10 ; CAD / USD = 0.75 ; DKK / USD = 0.15 ; BRL / USD = 0.24

1.2.3.

Pricing of loans and deposits based on the home countryFinancial data as per the most recent annual financial statements Monese offers a marketplace with partners including insurance providers and has a partnership with Raisin for access to their savings marketplace. The deposit rate refers to the interest rate offered at Raisin

4.5.6.

Sources: Company Websites, Annual Reports, Press Search, Fincog Analysis

Notes:

Fincog Benchmark On Challenger Banks' Features And Profitabilitycomparison of challenger banks that are centered around debit- or prepaid cards, October 2019

Valuation Per Customer ($)Loans Per Customer ($)Deposits Per Customer ($)Income Per Customer ($)Cost Per Customer ($)Net Profit Per Customer ($)

n/a

-

6,636

19.72

-369.12

-349.40

103

72

n/a

32.38

-35.90

-18.35

n/a

n/a

n/a

-19.78

-12.70

-30.28

833

130

49

1.59

-14.68

-2.01

1,000

64

129

0.31

-10.00

-10.07 RATI

O P

ER C

UST

OM

ER

250

n/a

n/a

n/a

n/a

-5.76

799

6

183

3.63

-23.76

-18.71

n/a

n/a

n/a

-1.02

-10.62

-10.98

Total Customer Loans ($M)3,5

Total Customer Deposits ($M)3,5

Total Income ($M)3,5

Operating Cost ($M)3,5

Net Profit ($M)3,5

-

232.3

0.7

-12.9

-12.2

64.8

n/a

29.1

-32.3

-16.5

n/a

n/a

-2.6

-1.7

-3.9

1,565.7

584.6

19.1

-176.2

-24.1

223.7

453.0

1.1

-35.0

-35.3

KEY

FIN

ANCI

ALS n/a

n/a

n/a

n/a

-40.3

19.7

568.0

11.3

-73.6

-58.0

n/a

n/a

-1.4

-14.9

-15.4

N26 BUNQ MOGO LUNAR NUBANK

Feb-13 Mar-12 Aug-03 Aug-15 May-13

Bank Bank Bank BankCredit Institution, Mortgage Broker,

Whitelabel Prepaid Card

Retail& Business

Retail& Business

Retail& Business

Retail(& waiting listfor Business)

Retail

Founded

Germany Netherlands Canada Denmark BrazilHome Country

Legal Status

EEA, Switzerland, USA, (+ Brazil coming soon)

Fully active in Germany, Austria,

Italy, Spain, France, Belgium and

Ireland, expanding to rest of Europe

Norway,Sweden

Argentina, Mexico(waiting list

for both)

-International Presence

Customer Segments

3.5 0.035 0.130 12.00.900Number of Customers (M)1

683 49 53 1,100201Total Funding ($M)3

3.5 n/a n/a 10.00.093Valuation ($B)2,3

PRO

FILE

REVOLUT

Jul-15

E-moneyInstitution & Bank

Retail& Business

UK

EEA, Australia, Canada, Singapore, Switzerland, USA (+ expanding to 24

other countries worldwide)

7.0

336

1.8

Feb-15

Bank

Retail& Business

UK

USA(waiting list)

3.1

399

2.5

MONZO

Oct-13

E-money Institution& Credit Institution

Retail& Business

UK

EEA

1.4

80

n/a

MONESE

KEY

FEAT

URE

S

Current Account (incl. Debit / Prepaid Card)International TransfersCredit CardSavings AccountInvestmentsPersonal LoansResidential MortgagesBusiness LoansInsurance 6

6

- - - - -

-

-

- -

-

-

-

-

-

-

-

-

-

-

----

-

-

-

-

-

- -

-

-

-

-

-

-

-

1.99% - 19% p.a. n/a 5.9% - 45.9% for Personal Loans,

2.59% - 2.85% for 3-5yr Mortgages

0% - 46.6% for Personal Loans

28% - 80% for Personal Loans,

27%-435% for Credit Cards

up to 1.48% 0.27% 6.27%n/a 0%

Free Current AccountPremium AccountsLending Rates (%)4

Deposit Rates (%)4

FEE

STRU

CTU

RE

12.5% - 25% APR for Business Loans

0%

3.7% - 19.5% APR on Personal Loans, and £0.50 per day

for overdrafts (max. £15.50 p/m)

up to 1.50 %

n/a

up to 0.70%6

- -

-

-