Tagged: banking

November 7, 2019 @ 4:44 pm By JD Alois  |  

Earlier this week, leading marketplace lending platform LendingClub (NYSE:LC) announced Q3 financial results that beat on both the top and bottom line. Importantly, LendingClub reported its first profitable quarter in years – a longtime goal of the Fintech. LendingClub went public in December 2014 during… Read More

November 7, 2019 @ 10:02 am By JD Alois  |  

DayTek Capital says it expects to launch a new digital bank “Infinity” in Australia by mid-2020. The company describes the forthcomin bank as “product disruptive,” without providing too many details. Additionally, DayTek reports the Australian government is assisting with the Fintech getting established as Trade… Read More

November 7, 2019 @ 7:58 am By JD Alois  |  

Tandem Bank is expanding into Hong Kong. The UK based challenger bank announced in a release that Tandem is working closely with Convoy Global Holdings on the launch. Tandem Bank expects to officially open up operations before the end of 2019. Convoy Global Holdings is… Read More

November 7, 2019 @ 6:38 am By Omar Faridi  |  

London-based Thought Machine, a Fintech firm that aims to address the banking sector’s dependence on legacy IT infrastructure, revealed on November 6 that it’s launching “Vault Rare.”  Vault Rare is a new product that will be integrated on top of Thought Machine’s cloud-native banking platform,… Read More

November 5, 2019 @ 4:10 am By Omar Faridi  |  

Madrid-based Banco Santander (Santander Group), a multinational commercial bank and financial services company, will be acquiring a 50.1% stake in Ebury for £350 million (appr. $450.9 million). Ebury is a London-based Fintech firm that offers corporate banking services to small and medium-sized enterprises (SMEs) that… Read More

November 4, 2019 @ 12:24 pm By JD Alois  |  

Ron Suber is one of the better-known names in the Fintech sector. Originally, Suber’s role as the President of the marketplace lending platform Prosper Marketplace brought Suber’s name to prominence as the Fintech emerged as an early leader in the US online lending market. Since… Read More

November 4, 2019 @ 7:32 am By Omar Faridi  |  

Subaio has launched its subscription management service at several Nordic banks, including Bulder Bank, a new challenger bank. The Subaio product provides users an overview of their subscriptions and the recurring payment schedules. The solution allows users to make changes to their subscriptions or cancel… Read More

November 4, 2019 @ 7:30 am By Omar Faridi  |  

Sydney-based Westpac, one of Australia’s first banks and first companies, is reportedly planning to introduce a new digital banking platform in order to attract younger clients that may otherwise prefer opening accounts at neo banks. Westpac’s decision to launch a new digital brand was announced… Read More

November 1, 2019 @ 4:28 pm By Omar Faridi  |  

Spanish neobank Rebellion has reportedly become the first challenger in the nation to acquire a banking license and provide International Bank Account Number (IBANs), according to a report from La Vanguardia.  The Fintech company is planning to become a neobank that “best speaks the language… Read More

October 30, 2019 @ 9:43 pm By JD Alois  |  

Earlier this month, the California Department of Business Oversight issued Cannabis Banking Guidance regarding state regulation. California is one of a growing number of states that have legalized Cannabis consumption. While California, and multiple US states, have legalized Cannabis usage, it still is illegal at… Read More

October 30, 2019 @ 9:19 pm By JD Alois  |  

This afternoon, the US Federal Reserve cut its benchmark interest rate by 25 basis points. The Federal Open Market Committee decided to lower the target range for the federal funds rate to 1-1/2 to 1-3/4 percent due to muted inflation and the “implications of global… Read More

October 30, 2019 @ 6:01 am By JD Alois  |  

Starling Bank, a digital challenger bank, is now offering a debit card that allows customers to spend directly in Pounds or Euros (ie no standard forex fee). According to a release, the dual currency card feature goes live on the same day as Starling launches… Read More

October 30, 2019 @ 4:00 am By JD Alois  |  

Digital bank Revolut has utilized Open Banking APIs for the first time with a tie-in to Intuit QuickBooks, according to a note from Revolut. This will be the first time that Revolut has collaborated with a third-party provider to use the advanced functionality of UK… Read More

October 29, 2019 @ 10:16 pm By Cali Haan  |  

Canadian credit union Coast Capital Savings is partnering with North Carolina firm nCino to “optimize” its lending operations using nCino’s cloud-based Bank Operating System platform. The system will be applied as a, “solution for online Retail and Small Business loan applications. The relevant press release… Read More

October 29, 2019 @ 10:33 am By Omar Faridi  |  

570easi, a French home finance and savings solutions company, has introduced its own challenger bank, called SOeasi, in order to establish the world’s first Islamic ethics-focused neobank. The challenger bank aims to leverage 570easi’s existing customer base as a foundation to help grow its business…. Read More

October 28, 2019 @ 7:18 am By Omar Faridi  |  

California-based BlueVine, a Fintech firm that provides small and medium-sized businesses (SMBs) access to “fast funding” and up to $5 million in loans via an advanced, online platform, is introducing its own banking service, called “BlueVine Business Banking.” Like all other US-based Fintech banks, it… Read More

October 24, 2019 @ 7:35 pm By JD Alois  |  

Digital bank Current has raised $2o million in a Series B funding round, according to a company release. The funding was led by Wellington Management Company, Galaxy Digital EOS VC Fund, and CMFG Ventures. Current also said it was expanding its partnership with Visa as… Read More

October 24, 2019 @ 7:14 pm By Cali Haan  |  

Cash App, a mobile payments app developed by Square (NYSE:SQ) that allows peers to transmit money between cellphones, make retail payments, and cash out via credit card, “Cash Card” or ATM, has added stock trading as a feature. The development was announced October 24th on… Read More

October 24, 2019 @ 7:32 am By JD Alois  |  

UK based digital bank Revolut has launched in Fintech-friendly Singapore, according to a company release. In 2018, Revolut set up an Asia-Pacific hub in Singapore, where the Fintech now employs twenty people. Revolut says it is planning to triple its headcount in Singapore in the… Read More

October 23, 2019 @ 5:33 pm By JD Alois  |  

Cogni, a digital challenger bank, has raised $5.4 million in a seed round, according to a note from the company. Cogni said it will launch its service in Q4 of 2019. Cogni last raised $1.7 million in funding in late 2018 in an earlier “seed”… Read More