Tagged: banking license

May 17, 2022 @ 10:28 pm By Omar Faridi  |  

Griffin, a UK Banking-as-a-Service (BaaS) Fintech, recently announced the completion of a key step in its application for a banking license. Griffin has submitted its application to the Prudential Regulation Authority (PRA) and the Financial Conduct Authority (FCA). John Weguelin, Griffin Chair, stated: “This is… Read More

April 6, 2022 @ 8:11 am By Omar Faridi  |  

Alpian SA, an innovative digital private bank, has announced the granting by FINMA of a banking license and “a successful CHF19 million Series B+ closing, enabling Alpian to shortly launch to the public in Q3 2022, becoming Switzerland’s first digital private bank.” Alpian, majority-owned by… Read More

October 4, 2021 @ 8:03 am By Omar Faridi  |  

UK-based digital bank Monzo has reportedly been forced to abandon its efforts to secure a US banking permit, after an unsuccessful 2-year engagement with regulators. In a statement, Monzo‘s management stated after their recent discussions with the OCC (Office of the Comptroller of the Currency),… Read More

August 12, 2021 @ 9:47 pm By Omar Faridi  |  

Fintech firm dopay has received a banking agent license via the Arab Banking Corporation Egypt (Bank ABC Egypt). As noted by its management: “Dopay is the Fintech innovator driving financial inclusion by making access to cashless payment solutions simple, secure, and super-fast. Today, 1.7 billion… Read More

July 4, 2021 @ 12:28 pm By Omar Faridi  |  

Bank Negara Malaysia, the nation’s reserve bank, recently revealed that it received 29 different applications for a virtual bank license under the Financial Services Act 2013 and the Islamic Financial Services Act 2013. This has come after a 6-month application period, which came to an… Read More

June 8, 2021 @ 9:31 am By Omar Faridi  |  

AideXa, an Italian banking challenger for small businesses, has reportedly acquired a full banking license which was issued by the European Central Bank (ECB). Established by Roberto Nicastro, ex- GM at Unicredit, Banca AideXa aims to leverage AI and Open Banking to better serve SMEs… Read More

December 1, 2020 @ 7:37 am By Omar Faridi  |  

Fintech Unicorn TransferWise has reportedly managed to acquire a restricted banking license in Australia. The leading money transfer service provider has been approved to gain direct access to Australia’s real-time payment system. The permit has been issued by Australia’s Prudential Regulatory Authority. Under the license,… Read More

August 4, 2020 @ 11:47 am By Samantha Hurst  |  

European fintech Viva Wallet announced on Tuesday it has officially acquired the banking license of Praxia Bank after the completion of the share purchase agreement between AMC Oak (Shareholder) and Viva Wallet Holdings (purchaser). Viva Wallet reported that the banking license will allow it to… Read More

March 3, 2020 @ 12:58 am By Omar Faridi  |  

UK-based banking challenger Starling Bank intends to use its Irish banking license to make its way into other European nations in the coming years, Anne Boden, the company’s CEO, confirmed. During a recent interview with IBS Intelligence, Boden, founder of Starling Bank, noted that the… Read More

February 27, 2020 @ 9:28 pm By Omar Faridi  |  

Singapore-based neobank Tonik Financial Pte. Ltd. has acquired $6 million in funding as it plans to officially introduce its services in the Philippines during the third quarter of this year. Tonik has received seed funding from Fintech venture developer Forum. The digital bank has also… Read More

January 22, 2020 @ 7:37 am By Omar Faridi  |  

Vive, a newly established UK-based digital bank, has reportedly acquired a banking license with certain restrictions from the Bank of England (BoE). The new digital bank aims to provide personal loans and a fixed-rate savings account. It will be launching with an Open Banking-based funds… Read More

January 10, 2020 @ 1:01 am By Omar Faridi  |  

Tonik, a neo banking startup, is planning to launch a digital-only bank in the Philippines after acquiring an online banking license from the nation’s reserve bank. Seed funded and established by Fintech venture developer Forum, Tonik’s management is preparing to introduce the new platform within… Read More

December 30, 2019 @ 8:48 am By Omar Faridi  |  

Non-financial firm ride-hailing service provider Grab confirmed on December 29 that it is partnering with one of Singapore’s largest telecommunication companies, Singtel, in order to acquire a digital full bank license in the Asian country. Singapore is currently accepting applications for a licenses to establish… Read More

December 24, 2019 @ 11:08 am By Omar Faridi  |  

SoftBank Group-backed Grab Financial Group will reportedly be applying for an online banking license in Singapore, as the company believes that financial businesses will be a key driver for its future growth and development. If Grab manages to acquire the license, then consumers and small… Read More

November 1, 2019 @ 4:28 pm By Omar Faridi  |  

Spanish neobank Rebellion has reportedly become the first challenger in the nation to acquire a banking license and provide International Bank Account Number (IBANs), according to a report from La Vanguardia.  The Fintech company is planning to become a neobank that “best speaks the language… Read More

September 9, 2019 @ 2:33 pm By Samantha Hurst  |  

Xinja Bank, an Australia-based neobank, announced on Monday it has received its full banking license from the Australian Prudential Regulation Authority (APRA) and has launched its bank accounts.  Founded in 2017, Xinja Bank describes itself as an independent 100% digital neobank for Australians that is… Read More

December 24, 2018 @ 7:07 am By Samantha Hurst  |  

Payment process platform Square has reportedly reapplied for its banking license. This news comes less than six months after the company withdrew its application.  According to Finextra, the company previously submitted its banking license application with the Federal Deposit Insurance Corporation (FDIC) to become a… Read More

December 13, 2018 @ 6:57 am By JD Alois  |  

Digital only bank Revolut has received a European banking license. The London based Fintech says it is now positioned to become “the Amazon of Banking.” Revolut applied for the banking license via the Lithuanian central bank just over a year ago in November 2017. It… Read More

November 29, 2018 @ 11:11 pm By Samantha Hurst  |  

Digital bank Revolut has acquired licenses to expand in Japan and Singapore. The launch in the Asian countries comes just after the fintech reportedly is planning to raise $500 million through its upcoming Series D funding round. According to CNBC, Revolut reported it received a remittance license… Read More

June 6, 2018 @ 2:47 pm By Samantha Hurst  |  

Boston-based cryptocurrency platform Circle is now making plans to apply for a banking license in the U.S. As previously reported, Circle, which is backed by Goldman Sachs, was founded in 2013 and offers four products: Circle Invest, which allows users to easily invest in crypto; Circle Pay,… Read More