Tagged: banking

European Payments Specialist Banking Circle Reports Significant Rise in Transactions, Users After Acquiring License Last Year

Banking Circle, the payments specialist, has revealed that there’s been a significant “uplift in payments flow” and clients just a year after it launched its Banking License. At the end of February 2020, Banking Circle was awarded a Banking License from the Commission de Surveillance… Read More

UK’s OneBanks, which Offers Face-to-Face Banking Services on Behalf of Banks, Hires Andy Willmot as CTO

OneBanks, the developer of a pop-up kiosk format which can offer in-person banking services on behalf of several different banks and financial services customers, has appointed Andy Willmot,  (the Chief Digital Architect at Lloyds Banking Group) as its Chief Technical Officer. With banks now beginning… Read More

Digital Transformation: 68% of Singapore Consumers Prefer All-Digital Channels when Engaging with their Bank during Financial Hardship

During the past year, firms have been focused on accelerating their digital transformation strategies in order to maintain operations in a post-COVID environment. Their investments in digital technology have been essential to retaining business and clients. Companies now require the tools to conduct business remotely,… Read More

Metro Bank Extends Relationship with Backbase to Provide Digital Banking Services

Backbase, a digital banking service provider, has renewed its partnership with UK retail bank Metro Bank (LSE:MTRO). According to a release, Backbase will be providing dedicated digital innovation support for Metro Bank’s business banking customers. Metro Bank agreed to an extension five years after Backbase… Read More

B-North, a Fintech Building an SME Lending Bank, Tops £500,000 Target on GrowthFunders

B-North, the Manchester-based Fintech building an SME lending bank for the UK, has topped its £500,000 target on GrowthFunders. As it stands today, B-North has raised £560,598 backed by 48 online investors as well as 27 professional investors. The Series A “bridge stub round” is… Read More

Digital Banking: Switzerland’s PostFinance Partners Swissquote to Launch Virtual Bank App Yuh, Will be Available May 11

PostFinance, the financial services division of Swiss Post, has teamed up with Swissquote in order to launch a digital banking app, called Yuh. The Fintech app will be available to the public on May 11, 2021. PostFinance and Swissquote had first announced plans to work… Read More

Open Banking: IT Firm Adesso Schwetz and Hypothekarbank Lenzburg to Work on Core Banking Solutions for Swiss Markets

Adesso Schweiz, a consulting and IT services provider, has teamed up with Hypothekarbank Lenzburg in order to further develop and market Open Banking solutions in Switzerland’s capital markets. As noted by the Adessor Schweiz AG team: “For a business to succeed, you need innovative ideas… Read More

Fintech Ant Group Affiliate MYbank Is Planning to Expand Operations in China to Serve More Rural SMEs

China-based MYbank, an online private commercial bank and an affiliate of the Ant Group with a special focus on working with rural areas and SMEs, has revealed that it will be doubling the number of rural counties it serves in the coming years. MYbank and… Read More

Fintech Finastra’s Fusion Cloud Core Banking Helps Firms Quickly Deploy Digital-First Banks, Company Exec Explains

The Coronavirus crisis has accelerated digital transformation across the world, including the APAC region, which has resulted in many bank branch closures. There’s also been a significant increase in retail banking activities that’s supported by all-digital challenger banks. These virtual banks are digital-first and are… Read More

Hong Kong based Digital Banking Challenger ZA Bank to Provide SME Loans Up to HKD 18 Million

Hong Kong-based digital banking challenger ZA Bank has revealed that it’s providing a financing guarantee facility of as much as HKD 18 million (appr. $2.32 million). The plan is referred to as the “ZME $18M Loan.” The new product is described as a business revolving… Read More

Barclays, Lloyds, NatWest, Santander, and HSBC to Share Single Bank Branch Location in Small UK Towns

The COVID-19 outbreak has led to nationwide lockdowns and other measures being taken to limit in-person contact in order to prevent the further spread of the virus. Many more individual consumers and businesses are conducting transactions online and are trying to avoid visiting physical locations…. Read More

UK Fintech Cashplus Adds Francesca Shaw, the Former CFO at Hoare & Co., to its Board as Non-Exec Director

UK-based Fintech Cashplus, which recently received approval to become a regulated bank after operating as an e-money institution for many years, has expanded its board by welcoming Francesca Shaw as a non-executive director. Shaw will also serve as Chair of the digital bank’s audit committee… Read More

UK’s ClearBank Reports that European Fintech Firms Consider Banks to be Key Partners in Ensuring Regulatory Compliance

ClearBank, the UK’s first “new clearing bank” in over 250 years which aims to bring open competition and transparency to the nation’s financial services sector, has published a report covering the working relationships between banks and Fintechs. The report is titled, How Well are Fintechs… Read More

ICICI Bank Unveils Digital & Contactless Banking Platform For Merchants “Merchant Stack”

India-based banking group ICICI Bank announced on Thursday the launch of its digital and contactless banking platform for merchants, Merchant Stack. According to ICICI Bank, Merchant Stack provides a bouquet of banking solutions and value-added services in ‘one single place for the retailer eco-system. The main… Read More

Revolut Releases New Version of Banking App

Digital bank Revolut has updated its banking app to version 8.0. The Fintech says the new version delivers a more simplified and customizable experience for its 15+ million users. A key feature of the app is a new hub that allows users to browse all… Read More

DBS Teams Up With JPMorgan & Temasek to Launch Cross-Border Blockchain Payments Platform

DBS announced on Wednesday it has partnered with JPMorgan and Temasek to launch a cross-border payments platform, known as Partior. According to the trio, Partior aims “to disrupt the traditional cross-border payments ‘hub and spoke’ model,” which has notably caused common “pain points” such as… Read More

Open Banking: London based Volt, an Open Payments Gateway, Unveils New Cash Management Facility

Volt, an open payments gateway, revealed on Wednesday (April 28, 2021) that it has developed new cash management functionality. It offers merchants and payment service providers with full visibility of Open Banking payments made via the UK’s Faster Payments Service and the European SEPA Credit… Read More

Current Raises $220 Million Series D, Now Valued at $2.2 Billion – Triples in Value in Just 5 Months

Current, a fast-growing neo-bank, has raised $220 million at a valuation of $2.2 billion. Current notes that the company has tripled in value in the past 5 months. In total, Current has raised $400 million in venture funding. The Series D funding round was led… Read More

Fintech Monese, which Offers Mobile App Alternative to Banking, Joins UK’s Late-Stage Growth Program, Future Fifty 9.0

Earlier this week, Monese revealed that they have joined Future Fifty 9.0 which is the UK’s leading late-stage growth program. The Monese team noted in a blog post: “We’re excited to announce we’ve been chosen as one of the UK’s leading late-stage tech companies and… Read More

Fintech Veteran Argues that Banks Achieving Functional Parity with Fintechs Isn’t Good Enough, Much More to Offering Modern Financial Services

Frank Rotman, who claims to be a 27+ year Fintech veteran and the Co-Founder of QED Investors, reveals that he talked to a bank executive who was “proud of finally getting to functional parity” with Fintech service providers in “a particular space” that financial tech… Read More

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