German neobank N26 achieves first-ever profitable quarter 🥳🇩🇪; JPMorgan UK makes strategic move into credit cards 🇬🇧💳; Goldman Sachs is spinning out its digital assets platform 👀⛓️

FinTech is Eating the World, 20 November

Hey Everyone,

Good morning & happy Thursday! Today’s issue is the best one yet as we’re going to dive deep into all things digital banking. We’re thus looking at German digital challenger bank N26 which just achieved its first-ever profitable quarter (why it matters + what’s next for N26), JPMorgan UK that just made a strategic move into credit cards (what it tells us & what we can expect next + bonus deep dives into JPM’s latest financials & more bonus reads inside), and Goldman Sachs that’s to spin out its digital assets platform (what it means & why it matters + bonus deep dive into Goldman’s latest financials & latest numbers on all things digital assets). So let’s just jump straight into the good stuff 🌶️

German digital challenger bank N26 achieves first-ever profitable quarter 🥳🇩🇪

The news 🗞️ German digital bank N26 has marked a significant turnaround in its operations, reporting its first-ever quarterly profit in Q3 2024 following the lifting of regulatory restrictions that had previously limited its growth.

The milestone comes as the Berlin-based FinTech demonstrates strong customer acquisition and revenue growth, signaling a new chapter in its evolution from a challenging regulatory period.

Let’s take a quick look at this and see what’s next for N26.