Tagged: banking

AI-based Banking Tech Provider Neocova Secures $9.5 Million in Investments from US-based Community Banks

Several US-based community banks have reportedly invested $9.5 million into artificial intelligence (AI)-enhanced, API-driven banking technology provider, called Neocova. Developed specifically for community banks, Neocova’s cloud-powered core platform handles the management of customers, their deposits, and any loan products they might be using. The latest… Read More

N26 Milestone: Digital Bank Celebrates Five Million Customers in Five Years

Digital-only bank platform N26 announced on Wednesday it now has more than five million customers who are banking on its platform around the globe. The company stated: “As we enter a new decade, we’re delighted to share some more fantastic news. N26 has reached another… Read More

UK: Revolut to Offer Savings Accounts with 1.35% Interest Rate

Digital challenger bank Revolut has announced a new savings accounts for users in the UK market. The bank says the savings accounts will be available to Revolut Metal customers and earn a 1.35% interest rate on deposits – one of the higher rates of returns… Read More

France-based Digital Bank Qonto Secures $115 Million via Series C Round Led by Tencent, DST Global

France-based digital bank Qonto has secured $115 million through a Series C investment round led by Tencent and DST Global, in order to help it further penetrate key markets, implement new features to tailor its products and services to specific market segments, and hire new… Read More

OG Bank and OG Pay Team Up with Banking as a Service Provider, Bankable, to Offer Digital Banking in the UK and Germany

A Dubai-headquartered Fintech firm focused on providing payment processing services will be launching OG Bank and OG Pay (On the Go), an online banking platform, chat-based digital payment wallet and an online point-of-sale (PoS) system – which will all be accessible and managed from mobile… Read More

Swiss Banking App Neon Eliminates Extra Fees For Card Payments Abroad

Neon, a Switzerland-based mobile banking app, announced on Monday it is eliminating extra fees for card payments abroad. The company revealed the exciting news by stating the following: “To pay so much in fees while abroad is just not ok anymore. Card payments and cash… Read More

Sberbank’s Loyalty Program Now Allows Customers to Send Reward Points to Each Other

Russian banking group Sberbank announced on Tuesday its loyal program is now allowing users to send reward points to each other. According to Sberbank, all loyalty program members, besides those who are at the lowest Spasibo privilege level, will be entitled to transfer points from… Read More

Brazilian Fintech Olivia Secures $5 Million in Funding from BV and BR Startups Fund

Brazilian Fintech firm Olivia recently revealed that it had acquired R$25 million (appr. $5 million) in investments. The company’s application assists its clients in saving and money management, with useful tips on cash flow and behavior habits. Olivia’s stakeholders include BV (previously Banco Votorantim), which… Read More

Edinburgh-based TSB Bank to Establish New IT Center to Support Digital Banking Services as Part of $156 Million Investment

TSB has confirmed that it will establish a new IT center based in Edinburgh, in order to support the launch of digital banking services, as part of a £120 million (appr. $156 million) investment – which is expected to create around 100 new technology jobs,… Read More

Update: Digital Bank Tonik Acquires License to Operate in the Philippines

Singapore-headquartered neobank Tonik Financial Pte. Ltd. has reportedly been awarded an operational license from the Bangko Sentral ng Pilipinas (BSP), in order to offer financial services in the Philippines. The license will allow Tonik, via its local division Tonik Digital Bank Inc., to offer a… Read More

Singapore Banking Group DBS Launches B2B Payments Solution

Banking group DBS announced on Monday it has launched a new solution to transform cash and paper-based B2B payments and collections landscape for businesses in Singapore. The bank reported its QR-code based solution is powered by DBS RAPID and DBS MAX and addresses Singapore’s aim… Read More

Australian Digital Bank Volt Secures $70 Million in Additional Investments via Series C Round

Volt, one of Australia’s first neobanks to have received a full operational license in the country, has reportedly secured an additional $70 million in investments. Steve Weston, co-founder and CEO at Volt, stated: “The high levels of interest we are receiving from potential banking partners… Read More

Monzo Now Reporting to Experian

UK-based digital banking group Monzo announced last week it will be now be reporting to Experian. The company revealed that it previously just reported to TransUnion. “Although we’ve started sharing information with Experian, it’ll take a month or two for Monzo to appear on your… Read More

Banking Challenger Market Is Growing Rapidly, with Brazil’s Nubank being the World’s Largest with 15 Million Clients

The challenger bank trend first began in Europe and has been gradually spreading to other parts of the world. Traditional banking challengers have been growing steadily and have managed to attract large investments. FT Partners’ new report, titled The Rise of Challenger Banks: Are the… Read More

Unifimoney, a Savings and Investing Fintech, Choses UMB Bank to Provide it with Insured Deposit and Payment Integration Solutions

Unifimoney, a savings and investing-focused Fintech firm, has reportedly chosen UMB Bank to provide it with insured deposit and payment integration solutions and services. Unifymoney is an aspiring digital bank but like most US based digital banks it does not hold a banking license. The… Read More

Goldman Sachs Promotes Marcus App, Explains Delay as Utility Not that High at First

Digital-only bank Marcus, part of Goldman Sachs (NYSE:GS) was recently announced after a several year delay. The app is now available on the Apple App store with Google Play availability this spring. Marcus is the first digital-only bank to have a federal charter in the… Read More

Goldman Sachs Disappoints On Q4 Bottom Line, Consumer & Wealth Management Generates “Record Revenues”

Goldman Sachs (NYSE:GS) is out with Q4 earnings reporting good topline numbers with a miss on the bottom line. Shares are trading marginally lower in pre-market activity. Goldman’s net revenues for the year ending December 31st came in at $36.55 billion with net earnings of… Read More

JP Morgan Keeps Opening Bank Branches While Investing in Tech Including AI and Digital Payments

JP Morgan (NYSE:JPM) is out with Q4 2020 results and the numbers are a clear beat on both the top and bottom line. JPM shares are up about 1% in pre-market trading. JPM is one of the most successful banks in the world benefiting from… Read More

BBVA Forms New Partnership With Nok Nok Labs to Boost Biometric Authentication Usage on Mobile Banking Services

BBVA, a Spanish multinational banking group, announced on Tuesday it has partnered with the authentication solutions company Nok Nok Labs to further strengthen the use of biometric authentication on its mobile banking services. BBVA reported that through this agreement, Nok Nok will provide BBVA with… Read More

Consortium led by Enigma Group Applies for Digital Bank License in Singapore

A consortium led by Enigma Group has applied for a Digital Full Bank license in Singapore, according to a company release. The co-applicants are said to include Singapore-based companies, Qrypt Technologies, 2359 Media and Blockchain Worx, along with UK-based Enigma Global Holdings. The group adds… Read More

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