SECTION · BANKING & NEOBANKS · BANKING-AS-A-SERVICE — THE RAILS BENEATH THE NEOBANKS

Banking-as-a-Service.

BaaS is the least glamorous and most consequential layer in consumer finance — the reason every prominent embedded-finance launch of the last three years has been quietly re-engineered. We report on the platforms (Solaris, Unit, Treasury Prime, Synctera) and on the sponsor banks behind them, where the regulatory pressure is now the story.

008 STORIES PUBLISHED THIS QUARTER · UPDATED DAILY

Scoop UK · 11 MIN READ · 26 APR 2026

Inside Monzo’s S-1: the revenue breakdown the bulls and the bears both missed.

The neobank's IPO filing quietly splits its 2025 revenue into three streams that tell very different stories about the next two years. Fintechly walked the numbers with four buy-side analysts.

BY PRIYA ANAND

News AFRICA · 6 MIN

Flutterwave lines up Cairo and Casablanca as its first post-IPO neobank expansions.

BY AMARA OKAFOR · 24 APR 2026

Scoop US · 8 MIN

Chase is running a private stablecoin-wallet pilot with its top ten treasury clients.

BY MARCUS CHEN · 22 APR 2026

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News US · 5 MIN

Mercury quietly launches a premium business card — and the pricing is aggressive.

The SMB-banking platform is undercutting Ramp and Brex on cashback for software spend. Its goal is not the fee margin. It is the switching cost.

BY HELENA MARQUES · 21 APR 2026

Analysis EU · 12 MIN

Solaris is recovering, and the European BaaS market has quietly consolidated behind it.

Eighteen months after the supervisory crisis that nearly ended the company, the German BaaS platform is signing enterprise clients again. The question is what that means for Griffin, Modulr and the rest of the field.

BY FELIX VANDENBERG · 19 APR 2026

News EU · 4 MIN

Revolut clears the last EU banking-licence hurdle — French rollout starts next week.

The ECB has signed off on Revolut's passporting from Lithuania. Product parity with the UK app is promised by Q3.

BY LéA BERTRAND · 17 APR 2026

Analysis US · 9 MIN

Apple Card’s second-year delinquency data is worse than Goldman ever admitted.

A set of securitisation filings from the card's successor issuer let us reconstruct the cohort performance for the first time. The trend-line is steep — and it is not over.

BY RACHEL TAN · 15 APR 2026

Explainer LATAM · 7 MIN

Why Nubank’s Mexico deposits are growing faster than Brazil ever did.

The world's largest digital bank has cracked a market that has defeated every other neobank. Three structural features of the Mexican banking system explain the acceleration.

BY MARCUS CHEN · 13 APR 2026

WHAT FINTECHLY IS TRACKING

Six banking stories we're reporting next.

MONZO

The S-1 questions nobody is asking out loud, and the buy-side calls we made this week.
CHASE

A private stablecoin-wallet pilot we first reported is now in the hands of its top ten treasury clients.
SOLARIS

The BaaS platform is signing again. The real story is who it is not signing.
NUBANK

Mexico deposits have begun to diverge from the rest of LATAM. We think we know why.
REVOLUT

The last EU licensing hurdle is cleared; the French rollout is five days away.
APPLE CARD

Year-two delinquency cohorts reconstructed from the securitisation trust's monthly filings.

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