Tagged: banking

Basel Committee Releases Report on Digitalization of Finance

The Basel Committee on Banking Supervision recently released a report that considers the implications of the ongoing digitalization of finance on banks and supervision. The report builds on the Sound Practices: implications of fintech developments for banks and bank supervisors released in 2018, and “takes… Read More

Nordic Region’s Tietoevry Banking Extends Partnership with Netherlands based Geldmaat

Tietoevry Banking is pleased to announce the renewal of its strategic partnership with Geldmaat. Following years of successful collaboration, Geldmaat has “reaffirmed their commitment to Tietoevry Banking and extended the partnership for an additional five years for use of ATM SaaS solutions.” Tietoevry Banking has… Read More

Digital Banking: Brazil’s Nubank Reports Solid Results for Q1 2024

Nu Holdings Ltd. (NYSE: NU), which claims to be one of the world’s largest digital banking platforms, released its First Quarter financial results. Financial results are presented in accordance with International Financial Reporting Standards (IFRS). David Vélez, founder and CEO of Nubank said: “In May… Read More

Woori Bank Joins Race for South Korea’s Fourth Internet-Only Bank License

Woori Bank, a major South Korean commercial lender, has officially entered the competition to secure a license for the country’s fourth internet-only bank. The bank confirmed that it had submitted a letter of intent to join the Korea Credit Data (KCD) led consortium. This move… Read More

Australia’s ANZ to Enable Clients to Access Smart Money Management Tools

ANZ has announced ANZ Plus Add-Ons, enabling customers to customise their banking experience with a mix of smart money management tools from the bank, and integrated experiences from third-party partners. ANZ Plus Add-Ons include “the new Money Map and Money In & Out. Money Map… Read More

MENA Region’s Emirates NBD to Enhance Merchant Acquiring Solutions via Pine Labs Partnership

Emirates NBD, which is one of the banking groups in the MENA and Turkey region, has partnered with Pine Labs, a merchant commerce omnichannel platform, to ensure that companies across the region have access to the latest, and best, payment solutions. As part of its… Read More

Consumer Fintech Chime Introduces Earned Wage Access (EWA) Feature

Chime, provider of a banking app, is announcing MyPay, a new offering that will aim to transform how everyday people access their pay in America. MyPay, Chime’s innovation, lets eligible members “access up to $500 of their pay, including government benefits, before payday with no… Read More

Experian Introduces Digital Tool Supporting Financial Inclusion with Open Banking Insights

Experian announced the launch of Cashflow Attributes, a solution to help expand fair and affordable access to credit, particularly for thin-file and credit invisible consumers. With over 900 income, cashflow and affordability attributes, Experian’s cashflow insights are available now and “allow lenders to seamlessly integrate… Read More

Digital Banks: Potentially Higher Interest Rates, Lower Fees Lead to New Clients Flocking to Online-Only Direct Banks

Mr. Potter Banker Banking (1)

Driven by the prospect of higher interest rates, lower fees, and around-the-clock access, new customers flocked to digital banks during the past year. This, according to research and key findings shared in a new banking sector report. For the most part, the direct banking institutions… Read More

Validata Announces Extension of Tech Partnership with Temenos

Validata announces the extension of their long-standing global, technology partnership agreement with Temenos and has extended its integration with Temenos core banking to provide banks and Electronic Money Institutions (EMIs) with “a cost-effective solution for Cash and Nostro reconciliation including payments investigations and case management,… Read More

Malware Impacting Mobile Banking Apps Continues to Pose Significant Risks to Consumers – Report

Kaspersky has released its annual Financial Threats Report for 2023, offering a detailed analysis of the evolving financial cyber threat landscape. The report reveals significant “increases in mobile banking malware and cryptocurrency-related phishing, signaling growing threats to digital financial assets.” 2023 witnessed a substantial rise… Read More

Latin America: Brazil’s Nubank Reports Surpassing 100 Million Customers

Nubank (NYSE: NU) announced that it has surpassed 100 million customers in Brazil, Mexico, and Colombia, making it the first digital banking platform to reach this milestone outside of Asia. The achievement reportedly comes on “the heels of record 2023 financial results, with over US$1… Read More

US Banks Are Reportedly Failing to Meet Demand for Instant Payments

Research from RedCompass Labs, a firm focused on payments modernization, has revealed that US banks are failing to meet demand for instant payments. The report, “Time to leave legacy behind? Instant payments in the US”,  “surveyed 300 senior payment professionals in US banks to get… Read More

Chainalysis Welcomed to Digital Asset Lab Council By Emirates NBD

Emirates NBD, a banking group in the MENA (and Türkiye) region, has announced Chainalysis as a key council member of the Digital Asset Lab. Chainalysis, the blockchain data platform, will “join professional services firm PwC, digital asset transfer and direct custody technology platform Fireblocks, and… Read More

Azerbaijan based Banking Services Providers Have Reportedly Forged Financial Links with US Counterparts

A delegation comprising executives from 11 Azerbaijani banks, under the leadership of the Governor of the Central Bank of Azerbaijan, embarked on a mission to the United States. Organized by the U.S.-Azerbaijan Chamber of Commerce (USACC), a Washington, D.C.-based trade association, in partnership with Azerbaijan… Read More

Ben Borodach from april Discusses Why Partnerships Between Fintechs And Banks Are Crucial To Growth

Over the last decade, Fintech has undergone a significant transformation and period of growth, marked by the digitization and democratization of access to financial services to more Americans. To gain insights into what the future holds, we spoke with Ben Borodach, the co-founder and CEO… Read More

UK’s Digital Bank Zopa Reports Over £4 Billion in Customer Deposits

Zopa Bank, which began operations as a P2P lending platform but has evolved into a digital bank, has reportedly surpassed £4 billion in customer deposits. Zopa Bank says it achieved this milestone in under 4 years since acquiring its banking license. It has helped that… Read More

Anchorage Digital Bank Partners with Arca Labs on Tokenized T-Bills

Anchorage Digital Bank will be providing a custody solution for Arca Labs regarding digital securities or tokenized T-Bills. Arca launched a digitized US Treasury fund and is the first firm to be registered under the 40 Act to issue tokenized T-bills, which are called “ArCoin.”… Read More

Real Estate Firm Caissa to Support Maiden Acquisition in Scotland with Loan from OakNorth Bank

OakNorth, which says it is the digital bank for entrepreneurs, by entrepreneurs, has completed a £1.3m loan to Caissa Holdings, in support of its first commercial property acquisition in Scotland. The time-critical deal was completed within a month, “highlighting OakNorth’s execution and delivery capability.” Caissa… Read More

UK’s Monument Bank Reports £2B in Deposits

Monument Bank is pleased to announce a significant milestone in their journey of growth. After reaching £1 billion in deposits on 3rd January this year, they have now reportedly “crossed the £2 billion mark in client deposits this morning, doubling their balances in less than… Read More

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