Tagged: banking

July 27, 2021 @ 7:50 am By Omar Faridi  |  

UK-based digital bank Starling has confirmed the acquisition of specialist buy-to-let mortgage lender Fleet Mortgages as part of a £50 million cash and share deal. Fleet Mortgages, based in Hampshire, focuses on offering mortgages to professional and semi-professional buy-to-let landlords, “only via mortgage adviser distribution… Read More

July 26, 2021 @ 10:22 am By Omar Faridi  |  

Digital bank Zopa will be working with JPMorgan which will serve as an advisor on a £100 million funding round. This, according to a report from Sky News, which noted that investors who have been approached regarding the investment round have been considering a £500… Read More

July 26, 2021 @ 8:10 am By Omar Faridi  |  

Earlier this month, the team at Atom Bank reported reaching a key milestone: £3 billion in residential mortgage lending. Hitting this number “represents an important step for our bank, and gives us a real sense of progress as we continue helping more to buy, move,… Read More

July 25, 2021 @ 10:43 am By Omar Faridi  |  

In a keynote speech that focused on fraud and financial crime at a conference in Asia, Carmen Chu, Executive Director (Enforcement and AML), Hong Kong Monetary Authority, discussed anti-money laundering and financial crime risk issues and the ability of authorities to address these problems. While… Read More

July 24, 2021 @ 7:30 pm By Omar Faridi  |  

Banking Circle, the Payments Bank for the digital economy, has chosen SIA, an established European hi-tech firm in payment services and infrastructures, controlled by CDP Equity, in order to introduce its instant payments service in Europe “connecting to the TARGET Instant Payment Settlement (TIPS) service… Read More

July 23, 2021 @ 8:58 am By Omar Faridi  |  

365.bank has announced that it will be leveraging Backbase’s Engagement Banking platform and Mambu’s Cloud-powered banking platform “to pivot to digital-first banking.” As mentioned in the announcement, 365.bank has chosen Engagement Banking tech provider Backbase in conjunction with Mambu, the SaaS banking platform, in order… Read More

July 21, 2021 @ 11:45 pm By Omar Faridi  |  

Infosys Finacle, which is part of EdgeVerve Systems, a wholly-owned subsidiary of Infosys (NSE, BSE, NYSE: INFY), and Santander UK, recently revealed that they’ve introduced  Santander UK’s global cash management platform as part of the institution’s digital transformation efforts. Santander Global Connect is a newly-developed… Read More

July 21, 2021 @ 4:09 pm By Tony Zerucha  |  

A new report from ABI Research predicts neobanks and challenger banks will nearly quadruple their number of accounts over the next five years The top 57 neo and challenger banks should grow their accounts from the 2020s 155 million to 590.6 million by 2026 due… Read More

July 21, 2021 @ 11:25 am By JD Alois  |  

Revolut, a neo-bank currently serving over 16 million customers, has added a new travel feature, “Stays,” that it expects to provide £70 million to its customers in a 10% cashback scheme for UK and European customers. As the world attempt to turn the corner on… Read More

July 21, 2021 @ 2:38 am By Omar Faridi  |  

As embedded finance continues to transform the financial services sector, Currencycloud questions how banks will shape that future. The cross-border payments Fintech notes that this is the question “on the minds of industry insiders — and with the rise of embedded finance, it’s never been… Read More

July 18, 2021 @ 9:58 am By Omar Faridi  |  

Philippines-based Netbank has now partnered with several alternative lenders so that the lending platforms can expand their operations without having to acquire additional funding. Netbank, the first Southeast Asia-based banking as a service (BaaS) platform operating via a bank license, is reportedly working closely with… Read More

July 16, 2021 @ 8:09 am By Omar Faridi  |  

Switzerland’s InCore Bank, the B2B banking solution provider, reveals that it has launched a comprehensive crypto-asset service. The securitization solution, called CRYSP, was developed with assistance from GenTwo Digital, a provider of innovative securitization platforms for crypto-assets. The solution enables fund managers, whether they’re from… Read More

July 15, 2021 @ 11:29 am By Omar Faridi  |  

Temenos (SIX: TEMN), the banking software firm, brings to market the next-gen in virtual banking with Temenos Infinity Micro Apps. Temenos Infinity Micro Apps are now able to provide packaged business capabilities (PBC), for banking platforms to quickly develop customized digital customer experiences by adding… Read More

July 15, 2021 @ 9:46 am By JD Alois  |  

Once again, leading Fintech investment bank FT Partners has played a key role in an outsized funding round in the Revolut transaction. As was reported earlier today, Revolut raised $800 million at a whopping $33 billion valuation. The funding was led by SoftBank – Tiger… Read More

July 14, 2021 @ 3:16 pm By JD Alois  |  

LendingClub (NYSE:LC), once the largest marketplace lender in the US and now an emerging digital bank, is transitioning away from the Radius Bank brand. As was previously reported, LendingClub acquired federally chartered Radius Bank with the deal closing around the beginning of this year. The… Read More

July 12, 2021 @ 8:39 pm By Omar Faridi  |  

CBI, which is a hub for tech innovation and the ongoing digitalization of the financial sector, has teamed up with CRIF, an international firm focused on credit bureau & business information, advanced digital solutions for business development and Open Banking. This partnership between CBI and… Read More

July 12, 2021 @ 7:31 am By Omar Faridi  |  

At a time when reserve banks across the globe are increasingly focusing on their digital currency initiatives, Switzerland’s apparent lack of interest in seriously looking into central bank digital currencies (CBDCs) might make the leading European economy less competitive. This, according to a recent analysis… Read More

July 10, 2021 @ 8:01 pm By Omar Faridi  |  

Nium, a global payments platform, reveals that it has entered a definitive agreement to acquire Wirecard Forex India Pte. Ltd, which serves as a foreign currency exchange, pre-paid card, and remittance service provider for Indian markets. Wirecard Forex has been licensed by the Reserve Bank… Read More

July 9, 2021 @ 5:27 pm By Omar Faridi  |  

BigPay is focused on expanding its business operations into Thailand after Airasia’s acquisition of Gojek’s Thailand division via its digital unit in a deal valued at RM208 million (appr. $50 million). This move has been announced ahead of AirAsia‘s plans to offer a Super app… Read More

July 9, 2021 @ 1:30 am By Omar Faridi  |  

Modulr, a Payments as a Service API Platform for digital businesses, notes that they work hard every day to make sure that all of the client communications are clear. The UK-based Fintech is also committed to playing its part in enhancing established standards across the… Read More