Tagged: banking

November 17, 2020 @ 9:49 am By Samantha Hurst  |  

Credorax, a fintech bank and smart payments provider, announced on Tuesday it has added Google Pay and Apple Pay to its payment method offering. Credorax reported that both methods may now be added to merchants’ accounts as payment options for their shoppers alongside the more… Read More

November 13, 2020 @ 9:24 am By Samantha Hurst  |  

Kuda, a Nigeria-based digital-only banking startup, announced earlier this week it secured $10 million through its latest investment round, which was led by European venture capital Target Global, with participation from Entrée Capital and SBI Investment. Founded in 2018 and launched in 2019, Kuda describes itself as… Read More

November 11, 2020 @ 9:34 am By Samantha Hurst  |  

UK banking group NatWest announced on Tuesday the launch of its new product Green Mortgages. According to NatWest, the product offers a “preferential interest rate” to new or existing customers who are purchasing energy-efficient properties. The banking group explained: “The Green Mortgage offers a discounted… Read More

November 11, 2020 @ 8:39 am By JD Alois  |  

Italy’s first digital bank, illimity, is reporting a pre-tax profit for the third quarter of €13.2 million (+31% over the previous quarter) and a net profit of €24 million in the first nine months of 2020. This compares to a loss of €18 million in… Read More

November 10, 2020 @ 11:52 am By JD Alois  |  

Current, a US neobank, says it now has over 1.75 million users. In a blog post, Current displays its competitive position in comparison to other aspiring digital banks and Current fares pretty well. Using Apptopia information, Current shows its platform in second place in contrast… Read More

November 4, 2020 @ 10:40 am By Omar Faridi  |  

There’s been a significant increase in demand for technical workers with data, advanced analytics, and AI skills in the modern banking sector. However, there aren’t enough qualified data and AI professionals to meet the requirements of major organizations across the globe. This major talent gap… Read More

November 1, 2020 @ 5:35 pm By Omar Faridi  |  

Naim Alame, the MENA Payments Lead at Accenture, and Elie El Khoury, Financial Services Lead for MENA Region at Accenture Interactive, have noted in a thought leadership piece (posted by Accenture) that the Fourth Industrial Revolution, which is “defined by the platform economy,” is now… Read More

October 29, 2020 @ 3:56 pm By Samantha Hurst  |  

Wise, a U.S.-based embedding banking startup, announced on Thursday it secured $12 million through its Series A funding round, which was led by e.ventures with participation from Grishin Robotics, and with continued investment from seed investors, Base10 Partners and Techstars. The latest investment comes just… Read More

October 28, 2020 @ 12:02 am By JD Alois  |  

Zopa, formerly a peer to peer lender and now a regulated digital bank, has launched its first credit card that is said to be designed to help customers stay in control of their money and their debt. Zopa says its credit card provides a feature called ”Safety Net”  which allows customers to lock… Read More

October 26, 2020 @ 2:45 pm By Samantha Hurst  |  

FCA authorized e-Money Institution Ziglu is set to close its equity crowdfunding campaign on Seedrs with more than £2.9 million raised. The funding round was launched last month and quickly secured its initial £1 million funding target. The campaign also attracted over 1100 Seedrs investors…. Read More

October 24, 2020 @ 5:43 pm By JD Alois  |  

Every two years, the Federal Deposit Insurance Corporation (FDIC) completes a report on the status of banking in the US. The recently released report, “How America Banks: Household Use of Banking and Financial Services,” says that a record low 5.4% of U.S. households were unbanked… Read More

October 20, 2020 @ 11:13 pm By Omar Faridi  |  

Triyono Gani, the head of digital finance innovation at Indonesia’s Financial Services Authority (OJK), notes that it may have taken a long time for people to understand one of Bill Gates’ quotes, “Banking is necessary, but banks are not.”  Gani points out that Gates actually… Read More

October 20, 2020 @ 11:51 am By JD Alois  |  

Following the recent news that digital bank Revolut will pursue a bank charter in California, Current has announced it has no intent on doing the same stating they are a “Fintech and not a bank.” Current, a Fintech that offers banking services in partnership with… Read More

October 20, 2020 @ 7:41 am By Omar Faridi  |  

What consumers might say and what actions they take when it comes to sharing personal financial data (via Open Banking) are two different things, ING Bank notes. Although there are many tools to help improve our financial lives, the findings of an ING global survey… Read More

October 19, 2020 @ 10:15 pm By Samantha Hurst  |  

NYMBUS, a U.S. financial service platform provider, announced on Monday that PeoplesBank has gone live with NYMBUS SmartLaunch to outsource the technology and remote full-service operations of its digital-only bank, ZYNLO. As previously reported, ZYNLO describes itself as a digital-only bank designed to make banking… Read More

October 19, 2020 @ 3:40 pm By JD Alois  |  

The United States has one of the most fragmented regulatory environments for financial services in the world. Frequently, a financial service provider will need to adhere to both state and federal rules along with an alphabet soup list of regulators. While the current leadership of… Read More

October 18, 2020 @ 5:05 pm By Omar Faridi  |  

David Jimenez Maireles, Customer Experience Officer at TNEX, a Vietnam based digital bank, claims that despite the skeptics, banks have been “no laggard when it comes to cloud adoption.” Banks have been migrating incrementally, and today “the average bank has 58% of its workloads in… Read More

October 14, 2020 @ 7:57 am By JD Alois  |  

Goldman Sachs (NYSE:GS) blew the doors of its earnings report this morning as it announced net revenues of $10.78 billion and a record quarterly diluted earnings per share (EPS) of $9.68 and annualized ROE of 17.5%, the highest quarterly ROE since 2010. Wall Street had… Read More

October 12, 2020 @ 10:13 pm By Omar Faridi  |  

Neobanks have been finding it quite challenging to maintain their competitive deposit rates. During the past few weeks, three Australian neobanks have reduced their rates and two of them have placed limits on the balances on which they’ll pay higher interest. Australia based digital bank… Read More

October 12, 2020 @ 9:19 pm By Omar Faridi  |  

The AMTD Group, a financial services company rooted in Hong Kong and based in the Greater Bay Area with a global focus, has revealed that the Weihai City Commercial Bank Co., Ltd. (based in Weihai, Shandong Province – marine economy demonstration zones of China) was… Read More