Tagged: banking

May 4, 2021 @ 8:00 am By Omar Faridi  |  

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

May 4, 2021 @ 7:58 am By Omar Faridi  |  

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

May 3, 2021 @ 11:45 pm By Omar Faridi  |  

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

May 3, 2021 @ 7:53 am By Omar Faridi  |  

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

May 2, 2021 @ 10:07 pm By Omar Faridi  |  

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

May 2, 2021 @ 3:27 pm By Omar Faridi  |  

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

May 1, 2021 @ 7:10 pm By Omar Faridi  |  

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

May 1, 2021 @ 3:56 pm By Omar Faridi  |  

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

April 29, 2021 @ 8:28 am By Samantha Hurst  |  

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

April 28, 2021 @ 8:18 am By JD Alois  |  

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

April 28, 2021 @ 8:12 am By Samantha Hurst  |  

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

April 28, 2021 @ 8:04 am By Omar Faridi  |  

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

April 27, 2021 @ 10:02 am By JD Alois  |  

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

April 25, 2021 @ 9:27 pm By Omar Faridi  |  

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

April 25, 2021 @ 12:38 pm By Omar Faridi  |  

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

April 22, 2021 @ 9:13 am By JD Alois  |  

UK bank NatWest is saying no to crypto. According to a report, business users that accept crypto, like Bitcoin, may be refused access to the bank’s services. As reported by the Guardian, NatWest BoardMember Morten Friis, who is head of the Risk Committee, explained during… Read More

April 21, 2021 @ 11:09 pm By JD Alois  |  

Digital bank Revolut is expanding into India, according to multiple reports. India, with a population of over 1.3 billion, assets of public sector banks are around Rs. 107.83 lakh crore or USD $ 1.52 trillion as of 2020, according to a recent report. In India,… Read More

April 21, 2021 @ 8:27 am By Omar Faridi  |  

UK-based 3s.money, a startup that assists corporates with accepting and managing their bank transfers in foreign markets, has reached a £40 million valuation following a £3 million Series B round that was led by TMT Investments. As stated on 3s.money’s website: “3S Money is a… Read More

April 21, 2021 @ 8:19 am By Omar Faridi  |  

OakNorth has reportedly entered into software deals with US banking institutions Capital One and Fifth Third, according to a report from BI. OakNorth has managed to onboard two new clients for its credit intelligence product offering. Capital One and Fifth Third Bank will be using… Read More

April 20, 2021 @ 11:47 pm By Omar Faridi  |  

London-based Clear Junction, a global payments solution provider, revealed on Tuesday (April 20, 2021) that it’s offering banking and payments solutions to Turicum Private Bank, with a key focus on handling real-time payments in GBP and EUR. Turicum Private Bank is a privately-owned banking institution… Read More