In this episode of The Challengers, Josh Liggett and Zack Miller explore what Varo Money getting a national charter might mean for the firm and for the challenger banking industry. We compare Monzo, which recently warned about its survivability, and Starling, which said it expects to break even in 2020 and reach profitability in 2021.

Lastly, your hosts discuss the new players in the challenger banking space: Kabbage and Intuit. Both launched accounts recently for SMBs.

Before we jump into the podcast, I wanted to introduce you to Outlier, Tearsheet’s leading membership program. It’s designed for top fintech and financial service professionals to stay on top daily of the biggest trends, the top companies, and the leaders of this next generation of finance. Get industry briefings by experts like the ones we’re doing this January on best practices in PR and customer acquisition. Find out more at Tearsheet.co/outlier