Tagged: banking

UK Digital-Only Starling Bank Plans to Raise £40 Million In Preparation For Global Expansion

UK-based digital-bank startup Starling Bank has announced it plans to raise £40 million from investors as part of its global expansion. Starling Bank describes itself as a fintech business with a banking license, fully regulated by the FCA and PRA. We were granted a banking license… Read More

Rabobank Partners with Dynatrace to Help Future-Proof Customer Experience

Rabobank, a Dutch multinational banking and financial services company, has inked a partnership with digital performance management company, Dynatrace. The new relationship allows Dynatrace to monitor in real-time the experience of every single Rabobank customer and employee. The intent is to optimize the user experience… Read More

Money Rate Releases Bi-Annual Checking Account Fees Survey

On Thursday, Money Rates announced its bi-annual checking account fee survey, which revealed that consumers are getting a rare break from checking account fees. According to Money Rates, the survey found that since the previous survey six months ago, service fees dropped and, the percentage… Read More

Congresswoman Maxine Waters Wants a Hearing on SoFi’s Bank Application [u]

Congresswoman Maxine Waters, the ranking Democrat on the powerful House Financial Services Committee, published a letter last week directed toward thes Chairman of the Federal Deposit Insurance Corporation (FDIC). Representative Waters asked the Chairman to hold at least one public hearing on the application by… Read More

Hero Plans Initial Coin Offering: Financial Return & Social Impact with Affordable & Available Access to Credit

The Future of Banking is Blockchain and Hero Wants to be the One Hero, part of the PawnHero online lending platform, is preparing an Initial Coin Offering (ICO). You may read the white paper in English here.  PawnHero is an already successful secured lending platform… Read More

Fintech Startup Railsbank Secures $1.2 Million During Latest Funding Round Led By Firestartr

Railsbank, a fintech startup that was co-founded by Currencycloud co-founder Nigel Verdon, has secured $1.2 million during its latest funding round, which was led by seed investment firm Firestartr, with participation from Kima Ventures and industry angels Peter Jackson (CEO WorldPay UK), Tim Levene (Betfair, Augmentum… Read More

Monzo Current Account Preview Now on Android App

Less than one month after announcing it was rolling out current accounts, challenger bank Monzo announced its current account preview is now available on its Android mobile app. The company revealed: “Three weeks ago today, we announced the beginning of the Monzo Current Account Preview, with… Read More

Digital Challenger Bank Banco BNI Europa Reaches Profitability in 2017

Banco BNI Europa, a digital challenger bank based in Portugal, has announced it has reached profitability in the first half of 2017, its third year in operation. Banco BNI Europa said its total assets grew 36.7% reaching almost €500 million in June this year. Total… Read More

Here is the Letter by the ICBA Slamming SoFi’s Effort to Become a Bank

Last week, the Independent Community Bankers of America  (ICBA) sent a letter to the attention of Kathy Moe, Regional Director of the FDIC in San Francisco. The subject of the letter was the ICBA’s vehement opposition to Fintech darling SoFi’s effort to become a licensed… Read More

Raisin, A Global Open Banking Forerunner

Pan-European marketplace for savings products, Raisin has become the poster child of Fintech disruption as it managed to convince 75,000 investors to put more than €3 billion into savings accounts held at foreign banks. We spoke with Tamaz Georgadze, co-founder and CEO, who explained to… Read More

Monzo Begins to Roll Out Current Accounts Just a Few Months After Receiving Full UK Banking License

On Monday, challenger bank Monzo announced it has begun to roll out current accounts to customers. This news comes just a few months after the company received its full UK banking license.  “Back in April, when we received our full UK banking license we explained that we… Read More

Revolut Introduces Free Personal Euro Accounts Following $66 Million Raise

Just days after announcing it secured $66 million through its Series B funding round, digital challenger bank Revolut introduced free personal euro accounts. The company revealed this new feature enables all its customers, across 42 European countries, to open a free Euro account straight from… Read More

The Boston Consulting Group Says Banking Needs to Become More Bionic

The Boston Consulting Group (BCG) is out with a report on retail banking and the emerging Fintech sector that is looking to disrupt traditional banks. According to BCG, global retail banking needs become more “Bionic”, alluding to the fact that business as usual no longer… Read More

Monzo Launches First Version of Banking Advice Platform Monzo University

On Thursday, UK-based challenger bank and Crowdcube FundedClub member, Monzo, announced the launch of its new community, Monzo University. This feature offers a place for the Monzo team to provide knowledge and help everyday people learn more about keeping up with their money. “The world of… Read More

Fintonic Secures €25 Million During Series B Funding Round; Seeks to Develop Personal Finance Mobile App & Expand

Spanish personal finance management app company, Fintonic, announced earlier this week that it has attracted €25 million through its Series B funding round, which included investments from ING Group and insurance group PSN. Founded in May 2012, Fintonic describes itself as mobile banking for the… Read More

Stockholm Based Payments Platform Klarna Receives Full Banking License

This trend is picking up speed. Fast growing Fintech firms are looking to receive regulatory approval to operate more like a bank. Klarna, a Sweden based payments platform, was granted a full banking license by the Finansinspektionen, (the Swedish Financial Supervisory Authority) last week. Klarna management… Read More

Citizens Bank Announces Fintech Partnership With Bottomline Technologies to Launch New Online & Mobile Commercial Banking Platform

On Thursday, Citizens Bank announced it is teaming up with fintech Bottomline Technologies to launch an online and mobile banking platform for its Commercial and Business Banking clients. Citizens Bank stated that the new digital banking platform will provide clients with an integrated suite of… Read More

Treasury Report Seeks to Deliver Regulatory Relief to Banks & Credit Unions

The US Department of Treasury is out with its first report in a series addressing regulatory reform regarding the financial services industry.  Due to the enormity of the task, Treasury will divide its review of the financial system into a series of reports. While Fintech… Read More

The Key to Monzo’s Digital Banking Success

Traditional banking is facing tough times ahead. It’s easy to see why. The UK has lost 40% of its banks and building societies since 1989, considering usage of online banking has more doubled since 2007. After all, who wants to queue for an hour to see… Read More

Fidor Hires Brad Whittfield as Global CFO

Fidor, a digital bank and Fintech solutions provider, has appointed Brad Whittfield as Global Chief Financial Officer. This is a newly created role within the Fidor Group and will be based in Dubai, UAE – Fidor Solutions’ central hub for its global expansion. Whittfield is… Read More