Global

March 7, 2020 @ 4:48 pm By Omar Faridi  |  

The Philippines, an Asian country with a GDP of over $300 billion and a population of more than 100 million, is preparing to welcome its first all-digital bank, Tonik Financial, which was established in Singapore in 2018. Tonik has acquired a banking license from the… Read More

March 7, 2020 @ 4:21 pm By JD Alois  |  

The growth of Fintech has slowed in Switzerland but simultaneously, the sector is maturing and showing signs that Fintechs are “beginning to outpace the [traditidional[ financial companies,” according to the IFZ Fintech Study 2020 from the Lucerne University of Applied Sciences and Art. The report… Read More

March 7, 2020 @ 2:43 pm By Omar Faridi  |  

Leap Finance Inc., a Fintech-focused platform for Indian students who are planning to enroll in international higher education programs, has secured $5.5 million in capital via a round led by Sequoia Capital.  Bhupinder Singh, founder and CEO at Incred, Kunal Shah, founder and CEO at… Read More

March 7, 2020 @ 9:23 am By Omar Faridi  |  

The global neo and challenger bank market is projected to reach a valuation of approximately $578 billion by 2027, at a compounded annual growth rate (CAGR) of about 46.5% from 2019 to 2027. This, according to a recent report from Facts and Factors Market Research,… Read More

March 7, 2020 @ 8:52 am By Omar Faridi  |  

Washington-based Quona Capital, a leading venture capital company (with additional offices in Bengaluru), has secured $203 million in commitments. The Accion Quona Inclusion Fund had initially planned to acquire $150 million in capital. The fund will mainly be focusing on Fintech projects and financial organizations… Read More

March 6, 2020 @ 10:07 pm By Omar Faridi  |  

Kuwait-based company Path Solutions has introduced the Path Digital and Path Intelligence platforms to allow local banks to offer clients a seamless and intelligent digital banking experience.  The Fintech solution provider noted that the launch of the new platform will complement its new Intelligent Digital… Read More

March 6, 2020 @ 9:44 pm By Samantha Hurst  |  

InsurTech NY, an insurtech community that is located in the New York metro area, announces the finalists of its 2020 InsurTech Competition. The organization reported that more than 200 startups applied to compete in a two-track competition, pitting early and growth-stage companies against each other, for over $300,000 in… Read More

March 6, 2020 @ 3:19 pm By Omar Faridi  |  

Digital banks are establishing new financial industry standards when it comes to better usability, and are introducing handy features such as card management and personal money management. For digital bank users, this will come as no surprise. A recent study published by the consulting company… Read More

March 6, 2020 @ 1:05 pm By Samantha Hurst  |  

UK-based digital banking group Starling Bank announced on Friday it has been named official banking partner for Team GB for the Tokyo 2020 Summer Olympic Games. The digital banking group reported as part of its involvement, it will also be offering each athlete a Starling… Read More

March 6, 2020 @ 7:59 am By Omar Faridi  |  

The United Kingdom’s financial regulator, the Financial Conduct Authority (FCA), recently warned local consumers about the operations of the Bitcoin Mercantile Exchange (BitMEX), a virtual currency derivatives exchange. According to a notice published by the FCA on March 3, 2020, the independent financial regulator noted… Read More

March 6, 2020 @ 7:09 am By Omar Faridi  |  

Denmark-based Insurtech company Penni.io has reportedly secured €2 million in funding from three major Nordic region insurance industry participants. The firm is planning to use the capital raised to expand its operations across Europe and globally. Established in 2016, Penni.io aims to assist insurance companies,… Read More

March 5, 2020 @ 10:15 pm By Omar Faridi  |  

Bank Negara Malaysia (BNM) has released an updated exposure draft, which covers the licensing guidelines for all-digital banks. The draft from the nation’s central bank proposes a simplified set of regulations for neobanks. Bank Negara officials noted that the simplifications intend to reduce regulatory pressure… Read More

March 5, 2020 @ 7:01 pm By JD Alois  |  

Assetz Capital, a UK based peer to peer lender, has topped £1 billion in online lending. Assetz Capital surpassed £500 million in lending in June of 2o18 so the platform is picking up steam. Launched in 2013, Assetz Capital provides access to credit for SMEs,… Read More

March 5, 2020 @ 6:11 pm By JD Alois  |  

Earlier today, Innovate Finance announced its annual Women in Fintech Powerlist that recognizes women changing the world of finance. As part of this list, Innovate Finance highlighted a group of “Standout 35 Stars.” As we just found out, one of these Fintech Stars is crowdfunding… Read More

March 5, 2020 @ 5:18 pm By Omar Faridi  |  

Matrixport, a financial services firm owned by billionaire Jihan Wu, co-founder of giant crypto mining firm Bitmain, is reportedly planning to secure $40 million in capital at a post-investment valuation of $300 million. According to Bloomberg, which cited sources familiar with the matter, Matrixport’s management… Read More

March 5, 2020 @ 1:16 pm By Omar Faridi  |  

Brazil-based neobank Nubank is reportedly planning to introduce an annual commission-free Nu credit card to customers in Mexico. There’s already a waitlist of 30,000 potential users, according to TechCrunch.  Mexico was notably the first major market that Nubank expanded to outside of its headquarters in… Read More

March 5, 2020 @ 10:44 am By Barry James  |  

CC – UK Prime Minister Boris Johnson. Britain has up to 2 Million ‘mortgage prisoners’ in increasing financial stress through no fault of their own, a situation created, paradoxically, by bad, outdated regulation.  There have already been 7 attempted suicides in the UK Mortgage Prisoners… Read More

March 5, 2020 @ 10:17 am By Omar Faridi  |  

A recent study published by Juniper Research claims that by 2024, the number of digital banking customers will surpass 3.6 billion, which would be a significant 54% increase from the current 2.4 billion users in 2020. This considerable growth has been attributed to the steady… Read More

March 5, 2020 @ 9:41 am By JD Alois  |  

Fast-growing Fintech Curve will close all of its offices in the UK on Friday due to the Coronavirus. According to a release, Curve said it was taking the unprecedented step in “preparation for a COVID-19 emergency” announced today. The UK has published a document providing… Read More

March 5, 2020 @ 8:05 am By Omar Faridi  |  

CoinDCX, one of the largest cryptocurrency exchanges in India, revealed on March 4, 2020 that it has become the first digital asset trading platform in the country to integrate bank account transfers.  This development has come right after the Supreme Court of India lifted the… Read More