Tagged: banking

February 24, 2020 @ 8:40 pm By JD Alois  |  

Leading UK based digital bank Revolut has closed on a $500 million series D funding according to a note from the company. The Fintech was valued at $5.5 billion making it one of the most valued private Fintechs in the world. Funding was led by… Read More

February 24, 2020 @ 5:17 pm By Omar Faridi  |  

Australia-based UBank, a digital lending company, has published an open-source software development toolkit on Github repositories in order to assist iOS developers in enhancing the accessibility of applications for users with disabilities. UBank’s new software tool checks for and issues a warning for different types… Read More

February 24, 2020 @ 3:07 pm By JD Alois  |  

Yesterday, Crowdfund Insider covered the transition by Al Rayan Bank to an app-based banking platform. Today, the Bank has provided additional information on this transition. According to company representatives: “Customers need to register for the Mobile Banking app by 4th March to ensure uninterrupted digital banking,… Read More

February 24, 2020 @ 8:13 am By JD Alois  |  

Sogexia has been authorized as a payment institution by the Minister of Finances of Luxembourg and has been granted at the same time the European passport enabling the Fintech to operate within the 31 countries of the European Economic Area (EEA). A company representative said… Read More

February 24, 2020 @ 7:52 am By JD Alois  |  

Digital bank Starling has kicked off a new advertising campaign focusing on banking services for SMEs, according to a release. The digital pitch promotes Starling Bank as supporting small businesses claiming the bank helps your business fly. Starling Bank is said to be spending “multi-millions”… Read More

February 23, 2020 @ 8:10 am By Omar Faridi  |  

United Arab Emirates (UAE)-based aafaq Islamic Finance has officially launched its core banking, Islamic banking and payments platforms, which have been developed by Infosys. aafaq’s management confirmed that the financial institution has upgraded its digital, payments and Islamic banking with software designed by Infosys, an… Read More

February 22, 2020 @ 8:00 pm By Omar Faridi  |  

Malaysia-based Axiata Group, a major telecommunications company, has reportedly been holding discussions with around 11 different potential business partners in order to acquire a digital banking license in the Asian nation. Mohd Izzaddin Idris, Axiata’s deputy chief executive, confirmed that the firm was also talking… Read More

February 21, 2020 @ 11:12 am By Omar Faridi  |  

Digital Banking Banking challengers have been introducing innovative financial products in order to compete with traditional banks. Challenger or neobanks attracted $5.2 billion in funding last year, which is more than triple of what they received back in 2018 ($1.6 billion). Italy-based Nexi, a digital… Read More

February 19, 2020 @ 12:26 pm By Samantha Hurst  |  

Northmill, a banking group based in Sweden, announced on Wednesday it has appointed former Klarna product manager, Arash Eftekhari, as its new Chief Product Officer. According to Northmill, Eftekhari will lead product development aiming to strengthen the connection between the product and the user. Northmill… Read More

February 19, 2020 @ 7:25 am By Samantha Hurst  |  

Standard Chartered, a UK-based multinational banking and financial services company with $688 billion in assets, announced on Wednesday it has appointed Kahina van Dyke as its new Global Head of Digital Channels and Client Data Analytics. According to Standard Chartered, Kahina joins from Ripple where… Read More

February 18, 2020 @ 5:18 pm By JD Alois  |  

LendingClub (NYSE:LC), the largest online lending marketplace in the United States, has simultaneously announced a GAAP profitable Q4 while revealing it has purchased a federally chartered bank, Radius Bank, thus immediately vaulting the Fintech into the hot digital banking realm. According to a release distributed… Read More

February 17, 2020 @ 10:10 am By JD Alois  |  

UK based digital bank Starling Bank is investing in P2P loans originated on the Zopa platform, according to a report in AltFi. The write-up quotes a Starling Bank representative that explained the arrangement: “Starling is in a unique position among neobanks of having a very… Read More

February 16, 2020 @ 10:22 am By Omar Faridi  |  

JPMorgan Chase, the world’s sixth-largest bank in terms of total assets, has reportedly sent a letter to several Fintech firms in which it cautioned that they will no longer be allowed to access customer data unless they accept the terms of a new data access… Read More

February 13, 2020 @ 11:53 pm By Omar Faridi  |  

Rewire, an international banking service provider for migrant workers, has confirmed that it’s developing a neobank (all-digital) for migrants based in Europe. The development will reportedly involve Rewire providing customized accounts to its clients, which will cater to the special requirements of emigrés. This will… Read More

February 13, 2020 @ 11:12 am By Samantha Hurst  |  

Following the announcement that N26 was departing the UK after the country left the European Union, digital challenger bank Monzo shared with UK N26 customers the reasons to switch to its banking service. As previously reported, N26 reported that with the UK now having left… Read More

February 12, 2020 @ 12:09 am By JD Alois  |  

In a bit of a shocker, Germany based digital bank N26 has decided to exit the UK market and close all customer accounts apparently due to Brexit. According to a blog post, the Fintech said leaving the UK does not change their global vision to… Read More

February 11, 2020 @ 6:26 am By JD Alois  |  

Mode Banking, an app-based Fintech that is part of the R8 Group, has formed a partnership with Onfido so users may buy, hold or sell Bitcoin, according to a release. Onfido is a global identity verification provider. Mode described the partnership as “expanding its network… Read More

February 10, 2020 @ 1:00 pm By JD Alois  |  

The Federal Deposit and Insurance Commission (FDIC), the US regulatory agency that provides vital deposit insurance for millions of account holders in the US, has given the green light to Varo Money – a digital-only bank. The Office of the Comptroller of the Currency (OCC),… Read More

February 10, 2020 @ 10:14 am By Samantha Hurst  |  

Barclays announced on Monday it has extended its partnership with multinational financial services corporation, Visa. Barclays reported that the European agreement with Visa, which recognizes the “unique position” Barclays has in the market, is designed to drive innovation and product development as well as facilitate… Read More

February 10, 2020 @ 6:58 am By Omar Faridi  |  

Popular Fintech Curve will launch in the US during 2020 according to a statement by CEO and founder Shacher Bialik delivered during the annual Fintech Week Tel Aviv. Curve is an “over the top” or OTT banking platform that is not a bank. The company… Read More