Tagged: banking

Report: Brazilian Digital Bank Neon Raises $95 Million

Brazilian Digital bank Neon has reportedly raised $95.27 million in a funding round led by Banco Votorantim and the General Atlantic fund. This is according to a write up in Estado. Neon claims a customer base of 2 million users. The additional funding will help… Read More

BlueVine Raises $102.5 Million in Series F led by ION Crossover, Plans Future of Small Business Banking

BlueVine, an online lender and Fintech bank, has raised $102.5 million in Series F funding. The round was led by ION Crossover Partners with participation from all major existing investors, including Lightspeed Venture Partners, Menlo Ventures, 83North, SVB Capital, Nationwide, Citi Ventures, Microsoft’s venture fund,… Read More

HSBC Says there’s No Need for a Virtual Bank License to Provide Digital Banking Services

HSBC has been focusing on improving its digital banking platform in order to attract more tech-savvy clients, as the giant financial institution continues to face competition from Fintech firms and new payment services companies. There are reportedly eight new virtual banks that are expected to… Read More

Crypto-Friendly Banking Service Provider Cashaa Introduces US Dollar Bank Accounts for Companies Dealing in Digital Assets

Cashaa, a cryptocurrency-friendly banking service provider, recently revealed that it’s introducing US dollar bank accounts for companies dealing in digital currencies. The new accounts are being offered through a partnership with Metropolitan Commercial Bank. Beginning on November 25, 2019, crypto-asset dealers and other high-risk business… Read More

State Bank of Pakistan Announces New Digital Payments Adoption Strategy to Enable Greater Financial Inclusion, Especially for Women

The State Bank of Pakistan, the nation’s central bank, has announced the development of a new national digital payment systems strategy that is aimed at promoting financial inclusion, especially for women. Cash transactions dominate Pakistan’s $300+ billion economy, with most people receiving their salaries in… Read More

Bank of Georgia Introduces AI-Enhanced Retail Banking Platform, mBank, to Provide Improved Digital Banking Experience

The Bank of Georgia has introduced an artificial intelligence (AI)-enhanced retail banking platform, called mBank, in order to offer its clients an improved, innovative, and personalized online banking experience. mBank is a newly developed “smart’ personal finance management (PFM) software platform. It has been created… Read More

Challenger Bank Tandem Hires Former HSBC Head of Banking Products

Tandem Bank has hired the former HSBC Head of Banking Products Kunal Malani as Chief Growth Officer. The appointment comes at a time when the challenger bank is planning an expansion into Hong Kong. Ricky Knox, Tandem Bank CEO, said he was delighted to bring… Read More

Spanish Multinational Banking Group BBVA Reveals How it Increased Digital Sales in Spain

Madrid-based Banco Bilbao Vizcaya Argentaria (BBVA), a multinational Spanish banking group with $827 billion in total assets, recently revealed its successful third quarter results. BBVA, one of the world’s largest financial institutions, noted in a blog post on November 11 that its digital sales statistics… Read More

Spain: Banco Sabadell to Partner with Fintech Nemuru to Provide Instant Loans for Renovations

Banco Sabadell, a bank based in Barcelona, has reached a partnership agreement with Nemuru – a Fintech that seeks to make it easier for professionals in the renovations sector to offer their customers instant loans at the point of sale. Banco Sabadell reports that the… Read More

Rearguard Action: Independent Community Bankers of America Supports Closure of Industrial Loan Charter “Loophole” to Eliminate “Shadow Banking”

The Independent Community Bankers of America (ICBA) has issued a statement of “strong support” regarding pending legislation targeting Industrial Loan Charters (ILC). An ILC is a regulated financial services charter that may be held by non-financial institutions. ILCs may hold FDIC insured deposits – a… Read More

Hungary Is “Behind Everyone” When It Comes to Adopting Latest Digital Banking Technology, Says Senior Law Firm Executive

A senior executive at CMS, a law firm working with the National Bank of Hungary (MNB) on its Fintech strategy, says Hungary is “behind everyone” when it comes to adopting the latest digital banking technology. The CMS executive stated: “Hungarians do not use sophisticated Fintech… Read More

Code Name Cache: Google to Offer Consumer Checking as it Pushes Deeper into Fintech

Global tech giant Google is pushing further into Fintech with the revelation of a forthcoming consumer checking service. First reported in WSJ.com, Google is expected to partner-up with Citigroup, along with a small credit union at Stanford University, to provide checking accounts. The project is… Read More

Federal Reserve Bank of New York: Demand for Small Dollar Business Loans is High But Key Sectors Struggle to Secure Bank Financing

The Federal Reserve Bank of New York has published a presentation on Small Business Credit. The document indicates that small business optimism is near a 15 year high and demand for small-dollar loans (under $1 million) is robust yet these same small dollars loans have… Read More

Open Financial Technologies and MEDICI Release Banking-as-a-Service Report at Singapore Fintech Festival

Open Financial Technologies Pvt Ltd, Asia’s first neobank for small and medium enterprises (SMEs) and startups, and MEDICI Global Inc, a Fintech research and innovation advisory company, have unveiled an extensive report on Banking-as-a-Service (BaaS) at the Singapore FinTech Festival. According to a release, the… Read More

Revolut Appoints New Chairman of the Board: Martin Gilbert former Co-CEO of Standard Life Aberdeen to Aid International Expansion of Digital Bank

Digital bank Revolut has selected a new Chairman of the Board. Martin Gilbert, an individual who has been advising Revolut co-founder and CEO Nik Storonsky, will join the bank on January 1st as non-Executive Chair. Gilbert is the former co-Chief Executive of Standard Life Aberdeen,… Read More

Financial Giant Standard Chartered Joins Enterprise Ethereum Alliance (EEA)

Banking giant Standard Chartered has reportedly joined the Enterprise Ethereum Alliance (EEA), a global standards organization that outlines the specifications for developing large-scale, interoperable blockchain platforms. The EEA is planning to conduct further research and development (R&D) into the latest trends involving distributed ledger technology… Read More

Report: P2P Lender Zopa Nears Launch of Digital Bank Offshoot in the United Kingdom

Zopa, a peer-to-peer (P2P) money lending platform that allows borrowers and lenders to deal directly with each other (cutting out the banks who serve as intermediaries), is nearing the launch of its new digital bank offshoot in the United Kingdom. The company will conduct a… Read More

The Marketplace Bank: Is LendingClub the Future of Banking?

Earlier this week, leading marketplace lending platform LendingClub (NYSE:LC) announced Q3 financial results that beat on both the top and bottom line. Importantly, LendingClub reported its first profitable quarter in years – a longtime goal of the Fintech. LendingClub went public in December 2014 during… Read More

DayTek Capital Plans Launch of “Product Disruptive” Digital Bank in Australia: Infinity

DayTek Capital says it expects to launch a new digital bank “Infinity” in Australia by mid-2020. The company describes the forthcomin bank as “product disruptive,” without providing too many details. Additionally, DayTek reports the Australian government is assisting with the Fintech getting established as Trade… Read More

Tandem Bank Announces Hong Kong Expansion

Tandem Bank is expanding into Hong Kong. The UK based challenger bank announced in a release that Tandem is working closely with Convoy Global Holdings on the launch. Tandem Bank expects to officially open up operations before the end of 2019. Convoy Global Holdings is… Read More

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