Moven shuts all consumer accounts, pivots to B2B-only service for banks
Mar27

Moven shuts all consumer accounts, pivots to B2B-only service for banks

Moven, a US-based fintech, has decided to close all its customers’ money management accounts from 30 April 2020 and focus solely on its enterprise business which outsources the firm’s technology to banks. The decision to axe operations of its neobank in the US comes as the firm, founded in 2011, reveals its “plans to spin-off Moven’s consumer-facing business hit a significant snag with major multi-year funding withdrawn as a result of...

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