Chime, the US-based fintech company, has agreed to acquire Stride Bank in a deal valued at $590 million, marking a significant expansion of its banking capabilities.
The acquisition gives Chime direct access to a federally chartered bank, a move that would allow it to operate with greater independence from third-party banking partners.
Stride Bank has historically served as a key banking infrastructure partner for a number of fintech firms operating across the United States.
By bringing that infrastructure in-house, Chime positions itself to reduce costs, improve margins, and gain more control over the products it offers its millions of customers.
The deal represents one of the larger fintech-to-bank acquisitions seen in recent years and underscores the growing appetite among digital financial services firms for regulated banking licences.
Regulators in the United States have faced mounting pressure to clarify the rules around fintech companies acquiring chartered banks, making this deal a closely watched transaction across the industry.
Meanwhile, on the other side of the Atlantic, Revolut is pushing deeper into UK business banking by targeting clients listed in the FTSE 250 index.
The British fintech giant, which received its UK banking licence in 2025, is now moving upmarket and competing directly with established high street and corporate banks for larger business clients.
Targeting FTSE 250 companies signals a deliberate strategic shift for Revolut, which built its reputation serving retail customers and small businesses before expanding its corporate ambitions.
The moves by both Chime and Revolut reflect a broader trend of fintech firms maturing beyond their startup roots and competing aggressively for customers traditionally served by incumbent financial institutions.
For UK business banking in particular, competition is intensifying as digital challengers offer faster onboarding, lower fees, and more flexible product structures than legacy providers.
Revolut’s decision to target mid-cap listed companies suggests it believes its technology infrastructure can now meet the more complex compliance and treasury needs of larger corporate clients.
The coming months will be closely watched by analysts and rivals alike as both firms move to execute their respective expansion strategies in competitive and heavily regulated markets.