Tagged: banking

ING Fintech Village: 121 Apply, 7 Are Selected

ING Belgium and Netherlands accelerator program Fintech Village has announced their newest round of participants. According to ING, 121 Fintech startups applied but only 7 were selected. ING states that it wanted to address businesses that were more mature, more likely to offer innovations that… Read More

Revolut Responds to Compliance Questions, The Telegraph Issues a Correction Regarding their Claims

Digital challenger bank Revolut has received an apology of sorts as the Telegraph has issued a correction regarding an article where the broadsheet made allegations regarding compliance challenges. Crowdfund Insider referenced the Telegraph’s report in an article here. The Telegraph’s correction stated they had “wrongly… Read More

Kinetic International Launches Blockchain Based Trading Platform

Kinetic International is the new kid on the banking block. After years of diligent wading through a complex and often trying regulatory approval process, Kinetic CEO Michael Williams heads up the first international private bank that is both fully compliant with US banking regulations (it… Read More

Banking Woes Persist for Crypto, But What Real Value Does Crypto Provide?

Bloomberg has reported that banking for cryptocurrency investment firms and trading platforms continues to be challenging, but absent from the article is a clear articulation of what innovation and value crypto really brings. The article also does little to interrogate the notion of “crypto assets.”… Read More

Fintech Startup Upgrade Pack Now Seeking £500,000 Through Seedrs Funding Round

UK-based fintech startup, Upgrade Pack, has launched an equity crowdfunding campaign on Seedrs to raise £500,000. Founded in 2018, Upgrade Pack is described as a closed marketplace where airlines and hotels make discounted upgrades available to an exclusive membership consumer base. The company revealed: “Our… Read More

Digital Bank Xinja Raises $2.6 Million on Equitise

Last week, digital bank Xinja closed its second crowdfunding round on Equitise having raised $2,589,781 from 1,568 investors. The round had set a top limit of The party isn’t over until the last Xinja sings 👩‍🎤👨‍🎤🎤(invests) 3⃣hrs to go peeps! Giddy up 🏇our crowdfund closes… Read More

While Community Bankers Bash Square’s Attempt to Become a Bank, Hope Rises for Fintechs and the ILC Application Process

There has been growing chatter that Square (NYSE: SQ) may soon receive approval regarding their application to become an Industrial Loan Company (ILC) which is similar to a bank. The change of leadership at the FDIC has set a more positive tone for Fintechs and their… Read More

The Gig Economy: Embedding Freelance Workers into Modern Lending Practices

Recent disruption in financial services has been driven by several factors – technologically savvy and connected customers, tighter government regulations, aggressive new Fintech market entrants and more. However, another potentially huge disruptor has been bubbling below the surface for several years now and is finally… Read More

Clearbank and Tide Combo Wins £60 Million Grant from RBS

ClearBank, a challenger clearing bank (the UK’s first new clearing bank in more than 250 years), has been awarded a grant from the RBS Alternative Remedies Package of £60 million. The grant is one of three from Pool A of the Capability and Innovation Fund that forms… Read More

Distributed Banking Ledger: Fincross Preps Launch of Blockchain based Investment Bank

Recently, it was announced that Fincross International will be the lead sponsor for the upcoming Security Token Summit taking place in LA this spring – as well as CIS. A relatively new company, Fincross is described as “a next-generation digital investment bank.” The digital investment bank… Read More

Concerned About the UK’s Fintech Prominence, Revolut CEO Calls for a Tech Visa to Help with Brexit Fallout

Nik Storonsky, the CEO and co-founder of digital bank Revolut, has told the UK Government to create specialised tech visas for professionals to ameliorate growing concerns of Brexit fallout. Revolut said it plans on doubling its workforce in the coming months as it expands services and… Read More

HSBC Says Its New DLT System for Forex Trades 25% Faster

An executive at HSBC has claimed the global bank’s new distributed ledger system for settling Forex trades is 25% more efficient than previous systems, Reuters reports. The system, HSBC FX Everywhere, is reportedly handling 3500-5000 foreign currency trades per day, though HSBC would not confirm what… Read More

Nomo Banking Adds Raisin Savings Products to App based Platform

Nomo Banking, an App based banking service targeting freelancers, has added Raisin’s service to its platform. The bank will now offer its customers multiple options for overnight accounts and fixed-term deposits via Europe’s #1 deposit marketplace. Raisin currently provides access to over 65 different products… Read More

Cannabis and Banking: House Committee to Discuss Access to Financial Services for Marijuana based Businesses

The House Subcommittee on Subcommittee on Consumer Protection and Financial Institutions, part of the Financial Services Committee, has scheduled a hearing for Wednesday, February 13th to discuss the Cannabis industry and access to financial services. The Hearing, entitled Challenges and Solutions: Access to Banking Services for Cannabis-Related… Read More

SME Business Banking Startup Anna Money Secures £8.5 Million Investment from Kinetik

Anna Money, a UK-based fintech that specializes in SME business banking, has received an £8.5 investment from tech investment firm, Kinetik. Founded in 2017, Anna, which stands for Absolutely No-Nonsense Admin, describes itself as a business current account for startups and small businesses. The company manages invoicing and comes… Read More

House Financial Services Subcommittee Schedules Hearing on Cannabis Businesses and Access to Banking

The House Financial Services Committee, Subcommittee on Consumer Protection and Financial Institutions, has scheduled a hearing for later next week to discuss the topic Cannabis and banking in a hearing entitled “Challenges and Solutions: Access to Banking Services for Cannabis-Related Businesses.” The Subcommittee is Chaired by New… Read More

Three Large Japanese Banks Drop Plans to Create Peer-to-Peer Payment Network

Three large banks in Japan, players in the country’s “crowded” payments market, have decided to abandon a cooperative pilot undertaken in 2017 to create a peer-to-peer remittance network, Nikkei Asian Review (NAR) reports. The three banks- Mizuho Financial Group, Sumitomo Mitsui Financial Group and Mitsubishi UFJ Financial Group– will… Read More

WeWork and Digital Bank Revolut Partner with Free Hot Desk Space

Revolut has announced an agreement with WeWork to provide Revolut for Business customers with 3 months free “hot desk space.” WeWork is one of the leading shared office space providers that has a reputation for hosting legions of early-stage companies around the world. The privately… Read More

Stealth Bank: Project Imagine’s First Venture dozens Wants to Be Where You Save Your Money, Plans Crowdfunding Round on Seedrs

dozens, a “new banking and wealth management alternative” wants to be where you save your money. dozens will accomplish this by providing proprietary financial products including a 5% annual interest rate which will make high-interest rates accessible to more people. dozens is placing the money… Read More

tZero’s Brokerage Partner Dinosaur is Part of a Group that Operates an FCA Regulated Digital Challenger Bank

Dinosaur Financial Group issued a release on their relationship with tZero, Overstock’s digital asset trading marketplace, on Friday. The announcement that Dinosaur’s institutional brokerage firm was partnering with tZero was old news. A few days prior, tZero had announced the commencement of trading via Dinosaur as the “introducing… Read More

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