Tagged: banking

November 22, 2019 @ 9:19 am By JD Alois  |  

Transferwise, a breakout Fintech hit, has added Malaysia to its list of countries where it offers its currency transfer services. According to a blog post, last year, Malaysia’s international money transfers grew 23.3%, to RM 41 billion (USD $9.9 billion). But most of these transfers… Read More

November 21, 2019 @ 8:55 am By JD Alois  |  

Thought Machine, a company that builds cloud-native tech for banks, has partnered with Google Cloud, according to a note from the company. As a Google Cloud partner Thought Machine will work closely with the Google Cloud team on new opportunities around the world. Thought Machine… Read More

November 21, 2019 @ 8:39 am By Omar Faridi  |  

Amsterdam-based ABN Amro, the third-largest bank in the Netherlands, recently revealed that its Hong Kong division had introduced Temenos’ payment technology offering, called Temenos Payments, as part of the platform’s global launch. Temenos Payments has reportedly been installed at the institution’s subsidiaries in Australia, Belgium,… Read More

November 21, 2019 @ 1:53 am By JD Alois  |  

Led by CEO Robert Bell and chaired by Anthony Thomson, digital bank 86 400 launched in September 2019 with transaction and savings accounts. Last week, 86 400 announced an entirely digital home loan offering said to be the first “smart alternative to how brokers currently… Read More

November 20, 2019 @ 2:48 pm By Omar Faridi  |  

Brussels-based KBC Bank will be opening its mobile banking app to the general public beyond its existing client base, in order to provide access to several third-party non-banking services. KBC intends to focus on expanding its banking-as-a-service model by offering non-customers a wide range of… Read More

November 20, 2019 @ 7:41 am By Omar Faridi  |  

Tymit, a London-headquartered mobile-based credit card service provider, has raised £4 million (appr. $5.2 million) via a combination of debt and equity financing, in order to create its products. The company has not disclosed any details regarding its investors. Tymit’s official website notes: “A credit… Read More

November 19, 2019 @ 2:55 pm By JD Alois  |  

Brazilian Digital bank Neon has reportedly raised $95.27 million in a funding round led by Banco Votorantim and the General Atlantic fund. This is according to a write up in Estado. Neon claims a customer base of 2 million users. The additional funding will help… Read More

November 19, 2019 @ 7:14 am By JD Alois  |  

BlueVine, an online lender and Fintech bank, has raised $102.5 million in Series F funding. The round was led by ION Crossover Partners with participation from all major existing investors, including Lightspeed Venture Partners, Menlo Ventures, 83North, SVB Capital, Nationwide, Citi Ventures, Microsoft’s venture fund,… Read More

November 18, 2019 @ 7:23 am By Omar Faridi  |  

HSBC has been focusing on improving its digital banking platform in order to attract more tech-savvy clients, as the giant financial institution continues to face competition from Fintech firms and new payment services companies. There are reportedly eight new virtual banks that are expected to… Read More

November 17, 2019 @ 2:50 pm By Omar Faridi  |  

Cashaa, a cryptocurrency-friendly banking service provider, recently revealed that it’s introducing US dollar bank accounts for companies dealing in digital currencies. The new accounts are being offered through a partnership with Metropolitan Commercial Bank. Beginning on November 25, 2019, crypto-asset dealers and other high-risk business… Read More

November 14, 2019 @ 11:43 pm By Omar Faridi  |  

The State Bank of Pakistan, the nation’s central bank, has announced the development of a new national digital payment systems strategy that is aimed at promoting financial inclusion, especially for women. Cash transactions dominate Pakistan’s $300+ billion economy, with most people receiving their salaries in… Read More

November 14, 2019 @ 10:02 pm By Omar Faridi  |  

The Bank of Georgia has introduced an artificial intelligence (AI)-enhanced retail banking platform, called mBank, in order to offer its clients an improved, innovative, and personalized online banking experience. mBank is a newly developed “smart’ personal finance management (PFM) software platform. It has been created… Read More

November 14, 2019 @ 10:12 am By JD Alois  |  

Tandem Bank has hired the former HSBC Head of Banking Products Kunal Malani as Chief Growth Officer. The appointment comes at a time when the challenger bank is planning an expansion into Hong Kong. Ricky Knox, Tandem Bank CEO, said he was delighted to bring… Read More

November 14, 2019 @ 2:12 am By Omar Faridi  |  

Madrid-based Banco Bilbao Vizcaya Argentaria (BBVA), a multinational Spanish banking group with $827 billion in total assets, recently revealed its successful third quarter results. BBVA, one of the world’s largest financial institutions, noted in a blog post on November 11 that its digital sales statistics… Read More

November 13, 2019 @ 11:53 am By JD Alois  |  

Banco Sabadell, a bank based in Barcelona, has reached a partnership agreement with Nemuru – a Fintech that seeks to make it easier for professionals in the renovations sector to offer their customers instant loans at the point of sale. Banco Sabadell reports that the… Read More

November 13, 2019 @ 11:05 am By JD Alois  |  

The Independent Community Bankers of America (ICBA) has issued a statement of “strong support” regarding pending legislation targeting Industrial Loan Charters (ILC). An ILC is a regulated financial services charter that may be held by non-financial institutions. ILCs may hold FDIC insured deposits – a… Read More

November 13, 2019 @ 10:03 am By Omar Faridi  |  

A senior executive at CMS, a law firm working with the National Bank of Hungary (MNB) on its Fintech strategy, says Hungary is “behind everyone” when it comes to adopting the latest digital banking technology. The CMS executive stated: “Hungarians do not use sophisticated Fintech… Read More

November 13, 2019 @ 9:32 am By JD Alois  |  

Global tech giant Google is pushing further into Fintech with the revelation of a forthcoming consumer checking service. First reported in WSJ.com, Google is expected to partner-up with Citigroup, along with a small credit union at Stanford University, to provide checking accounts. The project is… Read More

November 13, 2019 @ 4:10 am By JD Alois  |  

The Federal Reserve Bank of New York has published a presentation on Small Business Credit. The document indicates that small business optimism is near a 15 year high and demand for small-dollar loans (under $1 million) is robust yet these same small dollars loans have… Read More

November 12, 2019 @ 10:31 am By Omar Faridi  |  

Open Financial Technologies Pvt Ltd, Asia’s first neobank for small and medium enterprises (SMEs) and startups, and MEDICI Global Inc, a Fintech research and innovation advisory company, have unveiled an extensive report on Banking-as-a-Service (BaaS) at the Singapore FinTech Festival. According to a release, the… Read More