Tagged: banking

October 18, 2019 @ 12:54 pm By JD Alois  |  

Yesterday, the BBC program “Watchdog Live” reported on alleged problems at digital bank Monzo where customers have been blocked from accessing their accounts. “we’ve been contacted by quite a few customers saying they have had their accounts frozen with no explanation, so all of a… Read More

October 15, 2019 @ 9:17 am By JD Alois  |  

Goldman Sachs (NYSE:GS) revealed Q3 earnings this morning. The conference call is scheduled for 11AM ET today. Results were good but not great as earnings missed estimates. Shares declined in pre-market trading. Buried within the presentation is the fact that Goldman Sachs now claims $55… Read More

October 14, 2019 @ 1:14 pm By JD Alois  |  

Digital challenger bank Revolut is said to be looking to raise $1.5 billion in both debt and equity financing according to a report by Sky News. Apparently, Revolut is talking to JP Morgan to  raise $500 million in equity plus an additional $1 billion in… Read More

October 14, 2019 @ 6:56 am By JD Alois  |  

Starling Bank, a digital challenger bank, has launched a TV advertising campaign to bring its message of a mobile-friendly banking service. Starling Bank has kicked off the promotion with the message to Feel Good About Money. Starling said the publicity was designed to promote its… Read More

October 14, 2019 @ 6:47 am By Omar Faridi  |  

5G (fifth generation cellular network technology) is expected to significantly improve several key sectors of society. The newly developed 5G tech offers 10 times faster speeds compared to 4G networks.  5G also enables higher network connection density in terms of the number of online devices… Read More

October 13, 2019 @ 6:03 pm By JD Alois  |  

Bank startup Juno has issued a release reporting $3 million in seed funding from some prominent names. The digital banks says it has received the backing of Sequoia, Polychain and Dragonfly. Juno was founded in July 2019 by Varun Deshpande, Ratnesh Ray, and Siddharth Verma… Read More

October 13, 2019 @ 12:46 pm By Omar Faridi  |  

Facebook’s subsidiary Calibra is being sued for trademark infringement by Current, the developer of a mobile banking app. The complaint was submitted on October 10 in the US District Court for the Southern District of New York. It alleges that Calibra’s logo is quite similar… Read More

October 12, 2019 @ 6:33 pm By Omar Faridi  |  

Intesa Sanpaolo, an Italian banking group formed through the merger of Banca Intesa and Sanpaolo IMI, has reportedly invested €7 million in mobile payment system developer MatiPay.  The multi-million dollar investment will allow MatiPay to expand its operations in Europe, Japan and the US, where… Read More

October 11, 2019 @ 10:28 am By Omar Faridi  |  

Six Nordic banks will be funding the development of an international real-time payments system as part of the P27 collective. Danske Bank, Handelsbanken, Nordea, OP Financial Group, SEB and Swedbank have reportedly finalized a shareholders’ agreement, formulated a business plan, and agreed to make investments… Read More

October 10, 2019 @ 9:16 pm By Omar Faridi  |  

DNB, Norway’s largest financial institution, is introducing a new version of its mobile banking app.  DNB’s app will reportedly be powered by open banking platform Nordic API Gateway. The mobile-based app will allow the bank’s customers and other users to access all their personal and… Read More

October 10, 2019 @ 8:43 am By Omar Faridi  |  

UK-based digital bank Starling teamed up with Nimbla, a digital insurance platform, in order to provide its 65,000 small business clients the ability to protect themselves from potential financial damages resulting from bankrupt customers. Starling’s business customers can avoid financial losses by acquiring insurance coverage… Read More

October 10, 2019 @ 6:00 am By JD Alois  |  

UK-based Fintech Thought Machine has partnered with Swedish financial group SEB. The agreement will see SEB’s innovation studio SEBx deploy Thought Machine’s cloud-native banking platform, Vault. Though Machine has already secured partnerships with Atom bank, IBM and a major UK bank – last year securing… Read More

October 9, 2019 @ 9:12 am By Omar Faridi  |  

Frankfurt-based Deutsche Bank has established a central technology division that will manage the multinational investment bank’s technology security, data and innovation projects. The financial services company’s new unit will be headed by Bernd Leukert, an experienced SAP executive who joined the institution earlier this year… Read More

October 8, 2019 @ 8:21 pm By JD Alois  |  

Robinhood, a trading App and Fintech stealth bank, has returned to the current account business with FDIC insured savings accounts. Robinhood now offers a brokerage service, options, crypto as well as cash management. Robinhood does not charge commission fees on all trading. As of this… Read More

October 8, 2019 @ 2:41 pm By JD Alois  |  

Deutsche Handelsbank has appointed two co-CEOs. Deutsche Handelsbank is an interesting institution that is focused on Fintech. Originally launched as a payment transaction service provider, today the bank provides SME loans, including factoring, as well as savings accounts. On top of this, Deutsche Handelsbank provides… Read More

October 8, 2019 @ 6:46 am By Omar Faridi  |  

OakNorth, a UK-based digital bank that provides business and property loans to small and medium-sized businesses, announced on October 7 the appointment of Sunil Chandra as CEO of its new credit platform. Chandra, a former VP at Google Inc, helped scale the internet company’s talent… Read More

October 7, 2019 @ 7:05 am By JD Alois  |  

NatWest reports that the first biometric fingerprint credit cards are entering circulation today. According to the bank, 150 customers have been selected to take part in a three-month national pilot program. The credit card pilot follows an early trial of a debit card earlier in… Read More

October 6, 2019 @ 10:05 pm By JD Alois  |  

Revolut has been accepting new accounts in the US of late. Long-anticipated and recently announced, Revolut has been welcoming bank account sign-ups for its digital-first, Fintech future banking accounts in partnership with Metropolitan Commercial Bank, Member FDIC. In the US, most Fintechs partner with a… Read More

October 6, 2019 @ 9:49 pm By JD Alois  |  

HSBC is planning to cut a whopping 10,000 jobs. HSBC currently employs approximately 238,000 individuals. The new job reductions are in addition to a previously announced 4700 headcount cut. In a report by the FT from earlier today, it was claimed that interim CEO Noel… Read More

October 4, 2019 @ 10:02 am By Omar Faridi  |  

North Carolina-headquartered nCino, which has created a cloud-based operating system for financial service providers, raised $80 million through an investment round led by T. Rowe Price Associates Inc. San Francisco-based Salesforce Ventures also took part in nCino’s funding round, which brings the Wilmington company’s total… Read More