Tagged: banking

June 26, 2020 @ 8:17 am By Samantha Hurst  |  

Germany-based banking platform SolarisBank announced on Thursday it has formed a partnership with American Express for a new installment product, “Splitpay.” SolarisBank reported that for the first time, members of a personal American Express Card in Germany will be able to use an installment option… Read More

June 23, 2020 @ 3:45 pm By JD Alois  |  

nCino is preparing for an initial public offering (IPO) as the company has filed an S-1 with the Securities and Exchange Commission (SEC) indicating its intent to trade shares on an exchange. nCino is a Wilmington, North Carolina based Fintech that offers a cloud banking… Read More

June 18, 2020 @ 9:57 pm By JD Alois  |  

Prepara is the next aspiring digital bank to throw their hat in the Fintech ring. Not yet a regulated bank or authorized deposit-taking institution, Parpera is in the process of securing the necessary licences it requires for its products and services in Australia. In advance… Read More

June 18, 2020 @ 3:02 pm By JD Alois  |  

Current, a digital only challenger bank, reports that users have topped one million members with both April and May generating the most accounts. During the height of the Coronavirus lockdown, Current saw more than 100,000 new accounts created each month as demand rose for consumer-friendly… Read More

June 18, 2020 @ 11:28 am By JD Alois  |  

The Monetary Authority of Singapore (MAS) has announced that 14 out of 21 applications to become digital banks have met the eligibility criteria for the Fintechs to be considered. MAS announced on June 28, 2019, that it would issue up to two digital full bank… Read More

June 17, 2020 @ 11:07 am By JD Alois  |  

Top digital bank Monzo has raised £60 million in new funding at a significant decline in valuation reportedly a 40% haircut. A second tranche of funding may be forthcoming later this year. It was reported last month that Monzo was seeking up to £100 million… Read More

June 16, 2020 @ 1:50 pm By JD Alois  |  

Earlier this month, Crowdfund Insider reported on Varo Money closing on a huge $241 million Series D funding round. Varo Money is a top US-based digital-only bank seeking to challenge entrenched traditional banks while battling other Fintechs. In the realm of Fintech, digital banking is… Read More

June 16, 2020 @ 10:20 am By JD Alois  |  

Illimity, the first digital bank in Italy, is now offering a “illimity Hubs,” described as an innovative collaboration model in line with open banking and an open platform approach. lllimity is a banking start-up specializing in loans to SMEs. Illimity provides a digital direct banking… Read More

June 15, 2020 @ 7:18 am By JD Alois  |  

UK based digital bank Starling Bank has added three new integrations to its Marketplace: Slack, the workplace messaging platform, Bionic, the energy switching service, and Equipsme, a health insurance provider, according to a company release. Starling Bank has taken the approach of providing many forward-thinking… Read More

June 14, 2020 @ 9:33 pm By JD Alois  |  

One of the first moves the Acting Comptroller of the Currency Brian P. Brooks took upon assuming the leadership role at the Office of the Comptroller of the Currency was to further clarify his agency’s view on the Madden v. Midland case. The legal dust-up… Read More

June 6, 2020 @ 2:48 pm By Will Hurst  |  

    The financial services competitive landscape has evolved in recent years and it’s clear that fintechs have certainly disrupted traditional banks. Fintechs include any financial tech company that serves any of the following areas; lending, blockchain, Regtech, personal finance, payments and billing, insurance, capital… Read More

June 4, 2020 @ 6:44 pm By JD Alois  |  

The Office of the Comptroller of the Currency (OCC) has issued an advance notice of proposed rulemaking (ANPR) inviting public comment on its regulations regarding digital banking activities. The OCC is part of the US Department of Treasury and is the main banking regulator in… Read More

June 3, 2020 @ 2:37 pm By Samantha Hurst  |  

Lili, a U.S.-based mobile banking app specifically for freelancers, announced on Wednesday it secured $10 million through its seed funding round, which was led by Group 11 with participation from Foundation Capital, AltaIR Capital, Primary Venture Partners, and Torch Capital. Founded in 2018, Lili reported… Read More

May 31, 2020 @ 10:30 pm By Samantha Hurst  |  

Backbase, an omni-channel banking solution provider, announced on Thursday it has formed a new partnership with cloud-banking platform Mambu to create an end-to-end integrated SaaS banking solution. According to Backbase, the combined offering provides financial institutions with a fully integrated end-to-end cloud-native digital banking solution… Read More

May 29, 2020 @ 8:47 am By JD Alois  |  

Digital bank Starling bank has raised £40 million from existing investors according to a note from the Fintech. Starling said the funding was led by JTC and Merian Chrysalis Investment Company Limited. Anne Boden, founder and chief executive of Starling Bank, commented on the news: “This… Read More

May 28, 2020 @ 9:18 am By JD Alois  |  

  LendingClub (NYSE:LC), an online lending marketplace and emerging digital bank, has announced the launch of the “Member Center,” a centralized location for users to find assistance and support to better manage their financial lives during the COVID-19 crisis. Early one, when the Coronavirus first… Read More

May 27, 2020 @ 11:50 am By JD Alois  |  

N26, a Germany-based digital bank that recently closed on $100 million funding as part of an extended Series D, is distributing survey results regarding the US and European markets. Not too long ago, N26 made the decision to exit the highly competitive UK digital banking… Read More

May 26, 2020 @ 7:01 pm By JD Alois  |  

Global consulting group Kearney has distributed a report predicting that 1 in 4 European bank branches will close in the next three yeas as the shift away from brick and mortar bank branches ups the pace. Kearney states the obvious that new customer habits, boosted… Read More

May 26, 2020 @ 10:19 am By JD Alois  |  

  Do we need bank branches? No, not really, because old habits can be difficult to break. But the ongoing pandemic is accelerating a digital transformation that was already in play. Fintechs, or Fintech in general, is a big winner in this transformation as populations… Read More

May 21, 2020 @ 1:13 pm By Samantha Hurst  |  

ZYNLO Bank (ZYNLO), a digital-only startup powered by PeoplesBank, has launched its banking service in Anchorage, Alaska. Founded earlier this year, ZYNLO describes itself as a digital-only bank designed to make banking just a bit easier for all consumers. “We believe we offer the ideal combination… Read More