Tagged: banking

August 27, 2020 @ 10:17 pm By JD Alois  |  

Viva Republica has raised a whopping $173 million in new funding, according to a note from the company. Viva Republica is a top Korean Fintech and parent company mobile platform Toss. The Fintech is now valued at $2.6 billion having raised $560 million to date…. Read More

August 25, 2020 @ 7:00 am By JD Alois  |  

ODX, a subsidiary of OnDeck (NYSE: ONDK) – a Fintech that was recently purchased by Enova, has announced the launch of a “Digital Account Opening” (DAO) experience, adding to its suite of services offered by the company.  The DAO service is designed to streamline onboarding… Read More

August 25, 2020 @ 6:50 am By Omar Faridi  |  

Javier Rodriguez Soler, the Country Manager / CEO at the BBVA USA (NYSE: BBVA), a Spanish multinational financial services company based in Madrid and Bilbao, Spain with nearly €700 billion in assets, confirms that In early August, BBVA USA revealed it would work with Google … Read More

August 24, 2020 @ 3:56 pm By Samantha Hurst  |  

Bank of Ireland announced on Monday it has launched Google Pay for all customers. According to the banking group, customers are now able to add personal debit, credit cards, and business debit cards to the payment method’s digital wallet. While sharing more details about the… Read More

August 24, 2020 @ 9:03 am By JD Alois  |  

Zopa, a digital bank and online lender, has published the interest rates affiliated with its savings accounts. According to a note from the Fintech, savers may generate interest from 1.05% to 1.3% – depending on the term. Zopa’s Fixed Term Savings accounts are available today… Read More

August 21, 2020 @ 10:40 am By JD Alois  |  

The Hong Kong Institute for Monetary and Financial Research (HKIMR), the research segment of the Hong Kong Academy of Finance (AoF), has published a on AI and banking. Entitled “Artificial Intelligence in Banking: The Changing Landscape in Compliance and Supervision” the report seeks to provide… Read More

August 19, 2020 @ 7:58 am By JD Alois  |  

Digital bank Revolut has launched a new feature called “Group Bills” described as a way to track, split and settle up expenses in a centralised place.  Group Bills seeks to make group expenses easier to manage. Rather than splitting one bill at a time, Group… Read More

August 18, 2020 @ 3:13 pm By Samantha Hurst  |  

Moov Financial, a U.S.-based open-source embedded banking platform, announced on Tuesday it raised $5.5 million through its Seed funding round, which was led by Bain Capital Venture with participation from Canapi Ventures, Commerce Ventures, Gradient Ventures, RRE Ventures, Uncorrelated Ventures, and 27 influential angel investors… Read More

August 14, 2020 @ 8:05 am By Samantha Hurst  |  

Mastercard announced on Friday it has formed a global commercial partnership with merchant software platform, Pollinate. Through the collaboration, the duo will reportedly bring the latest technology and data insights to banks serving small and medium businesses around the world. In a statement, the companies… Read More

August 11, 2020 @ 11:19 am By JD Alois  |  

Revolut, a leading UK based digital bank, filed its annual report yesterday indicating that for the fiscal year 2019 revenue jumped alongside a growing annual loss. According to the Fintech, in 2019, revenue nearly tripled to £162.7 million vs. £58.2 million in 2018. The operating… Read More

August 11, 2020 @ 7:55 am By Samantha Hurst  |  

Standard Chartered Bank announced on Monday it has formed a three-year strategic partnership with Microsoft to accelerate its plans to become a cloud-first bank. Standard Chartered reported that the partnership makes a significant milestone for its virtual banking, next-generation payments, open banking, and banking-as-a-service efforts…. Read More

August 6, 2020 @ 7:52 pm By JD Alois  |  

Starling Bank CEO and founder Anne Boden has published the Fintech’s annual letter as well as a trading report for July 2020, and there are some encouraging comments in the missive. Boden notes that since November 2019, the bank’s “performance has been strong.” In fact,… Read More

August 4, 2020 @ 11:47 am By Samantha Hurst  |  

European fintech Viva Wallet announced on Tuesday it has officially acquired the banking license of Praxia Bank after the completion of the share purchase agreement between AMC Oak (Shareholder) and Viva Wallet Holdings (purchaser). Viva Wallet reported that the banking license will allow it to… Read More

August 4, 2020 @ 10:00 am By JD Alois  |  

Recently, the Office of the Comptroller of the Currency (OCC) posted a letter clarifying national banks’ and federal savings associations’ authority to provide cryptocurrency custody services for customers. Although recently we have seen improvements in banks providing services to crypto firms, many digital asset service providers… Read More

August 4, 2020 @ 7:37 am By JD Alois  |  

Revolut has partnered with TrueLayer, a financial service API provider, to incorporate open banking features in Italy. According to a release issued by the digital bank, Revolut customers in Italy will now be able to connect their Intesa Sanpaolo, UniCredit, UBI Banca, Banco BPM, Poste… Read More

August 3, 2020 @ 3:29 pm By JD Alois  |  

Last week, Acting Comptroller of the Currency Brian P. Brooks virtually presented Varo Bank, N.A. its official charter. Varo Money has been in business for years having provided bank services by partnering with an already chartered bank. As of August 1st, 2020, Varo Bank can… Read More

August 3, 2020 @ 12:13 pm By JD Alois  |  

  BBVA USA (NYSE: BBVA) is working with Google (Alphabet) (NASDAQ:GOOG) to offer digital bank accounts according to a release distributed by the bank. Spain based BBVA has been in business since 1857 and boasts a strong presence in the US with 641 branches, mainly… Read More

July 31, 2020 @ 11:01 am By JD Alois  |  

SEBA Bank AG, a bank that is regulated and licensed by the Swiss Financial Market Supervisory Authority (FINMA), has completed two independent audits in relation to existing processes and controls. SEBA Bank is a digital asset focused firm that offers an “institutional-grade solution for digital… Read More

July 31, 2020 @ 9:00 am By JD Alois  |  

Varo Money, Inc. has been granted its national bank charter from the Office of the Comptroller of the Currency (OCC) and secured regulatory approvals from the FDIC and Federal Reserve to open Varo Bank N.A. This represents the first consumer Fintech in the US to… Read More

July 30, 2020 @ 4:20 pm By JD Alois  |  

Losses at UK based digital bank Monzo continue to mount, according to a report. Monzo is said to have generated £113.8 million in losses versus year prior losses of £47.1 million. Simultaneously, top-line revenue rose to £67.2m from £19.7m for the fiscal year-end February, according… Read More