Tagged: banking challengers

May 3, 2021 @ 7:53 am By Omar Faridi  |  

The Coronavirus crisis has accelerated digital transformation across the world, including the APAC region, which has resulted in many bank branch closures. There’s also been a significant increase in retail banking activities that’s supported by all-digital challenger banks. These virtual banks are digital-first and are… Read More

October 30, 2020 @ 3:35 pm By Omar Faridi  |  

  Payments giant Visa recently published a study on Digital Banking and SMEs in Singapore. According to the report, 88% of Singapore’s SMEs are now considering switching over to an all-digital banking platform. These findings of the study have been released at a time when the… Read More

September 13, 2020 @ 6:37 pm By Omar Faridi  |  

Credit Suisse Plans New “CSX” Digital Banking Offering Switzerland’s Credit Suisse, a global wealth manager, has revealed that it will be introducing an app-only banking service, in order to compete with challenger banks. At the end of October 2020, Credit Suisse will launch “CSX” and… Read More

June 16, 2020 @ 1:40 am By Omar Faridi  |  

Tonik Financial Pte Ltd, a company planning to launch a digital bank in the Philippines, has reportedly secured $21 million in capital through a Series A equity funding round.  The round was led by major blue-chip venture capital investors, including Sequoia India and Point72 Ventures…. Read More

May 31, 2020 @ 11:30 pm By Omar Faridi  |  

Digital or neobanks are increasingly being used by consumers of all age groups for managing finances, and completing transactions. Despite the COVID-19 outbreak and resulting economic problems, digital bank Starling Bank recently secured £40 million in capital. Challenger banks aim to offer better services compared… Read More

May 9, 2020 @ 4:35 pm By Omar Faridi  |  

Changes in consumer behavior and attitudes towards digital platforms have led to the introduction of virtual banking solutions in many countries across the globe. Digital banking licenses will be awarded to several new Fintech service providers based in Hong Kong, Malaysia, and Singapore. Wissam Khoury… Read More

April 21, 2020 @ 7:37 am By Omar Faridi  |  

Capgemini, a French multinational corporation that offers consulting, technology, and various professional services, has co-published a Fintech report with Efma, a global non-profit organization consisting of banks and insurance firms that facilitates networking between key decision-makers. The World Fintech Report 2020 notes that even though… Read More

April 4, 2020 @ 1:52 pm By Omar Faridi  |  

The Coronavirus (COVID-19) outbreak has had a significant impact on our lives and is changing the way we work, interact, and consume products and services. Finch Capital, an early-stage venture capital firm focusing on Europe and the Southeast Asia region, has published a report, titled… Read More

March 30, 2020 @ 8:01 am By Omar Faridi  |  

Yves Roesti, Sean Huang, Xuna Shao and Joshua Choy from Synpulse, a financial services consulting company, point out that most digital banks were launched without physical branch locations. What makes neobanks stand out from incumbents is their ability to leverage technology to differentiate their product… Read More

March 6, 2020 @ 7:19 am By Omar Faridi  |  

Traditional banking executives have expressed concerns about the increasing competition form Fintech firms or challenger banks. The Promontory Interfinancial Network recently published a survey that revealed that 76% of 543 senior management professionals, working at traditional banks, noted that they fear new financial platforms being… Read More

February 21, 2020 @ 11:12 am By Omar Faridi  |  

Digital Banking Banking challengers have been introducing innovative financial products in order to compete with traditional banks. Challenger or neobanks attracted $5.2 billion in funding last year, which is more than triple of what they received back in 2018 ($1.6 billion). Italy-based Nexi, a digital… Read More

January 27, 2020 @ 12:39 pm By Omar Faridi  |  

A newly launched Israeli virtual bank founded by experienced tech professionals Amnon Shashua and Marius Nacht will begin offering banking services to clients at some point next year, according to an update posted by the financial institution on January 27. As of this report, no… Read More

January 13, 2020 @ 10:21 am By Omar Faridi  |  

While it might be true that young people like to use innovative cell phone apps to streamline their daily activities, reports suggest that fancy software alone won’t necessarily help challenger banks when trying to attract business from Generation Z customers. This, according to a newly… Read More