Tagged: banking

October 23, 2019 @ 8:56 am By JD Alois  |  

Customers Lose as Fintech Charter Shot Down by US District Court This week, Judge Victor Marrero of the US District Court for the Southern District of New York, ruled against the Office of the Comptroller of the Currency (OCC), in its ongoing legal battle to… Read More

October 23, 2019 @ 8:02 am By Omar Faridi  |  

Minneapolis, Minnesota-based US Bancorp, an American bank holding company and the parent company of US Bank, is reportedly eliminating thousands of branch jobs. The reduction in the bank’s workforce comes as more customers are now banking online, instead of visiting physical locations. Several job categories… Read More

October 23, 2019 @ 6:59 am By JD Alois  |  

Digital bank Starling Bank has raised £30 million in a new funding round, according to a company release. Merian Chrysalis Investment Company Limited is leading the round with an investment of £20 million. Starling’s existing investor, JTC, has topped off the round with £10 million…. Read More

October 23, 2019 @ 1:48 am By JD Alois  |  

McKinsey & Company has published its Global Banking Annual Review entitled “The Last Pit Stop? Time for Bold Late Cycle Moves.” The document is a probing examination of the global banking industry, based on a survey of over 1000 banks globally, highlighting both successful segments… Read More

October 22, 2019 @ 11:48 am By Omar Faridi  |  

Over 650,000 companies can register to become BBVA Spain customers, via an online process that reportedly takes a few minutes to complete.  BBVA has been offering various online enrollment options for private clients. The institution is the first bank in Spain to launch an online… Read More

October 22, 2019 @ 11:26 am By JD Alois  |  

Revolut has partnered with Mastercard to issue credit cards using the global network. According to a release from Revolut, the new deal will reach 210 countries and territories with he first cards hitting the US by the end of the year. Revolut is a UK… Read More

October 21, 2019 @ 10:56 am By Omar Faridi  |  

Almost two-thirds, or 66% of US residents, are considering opening a new savings account, and nearly half (47%) of them noted that they would be comfortable with an online-only service such as Ally, Discover or Synchrony. This, according to a survey performed by the Consumer… Read More

October 19, 2019 @ 1:18 pm By Omar Faridi  |  

Pennsylvania-based CNB Bank has chosen nCino, a privately held financial technology company, as its Bank Operating System for digitizing its retail lending processes. CNB Bank, which manages $3.2 billion in assets, was looking for a platform that could work with its existing processes and one… Read More

October 18, 2019 @ 6:12 pm By JD Alois  |  

Curve, a popular Fintech app that enables a single card to manage all of your credit cards, has updated its brand. “Our old brand simply wasn’t cutting it. It was too bland for our colourful product. We’re too bold for the swamp of boring banker… Read More

October 18, 2019 @ 3:10 pm By Omar Faridi  |  

Charlotte, North Carolina-based Bank of America (BoA), the second-largest US bank with over $2.3 trillion in total assets, is reportedly testing out Ripple’s distributed ledger technology (DLT)-based financial products. The bank might be planning to do more with the San Francisco-based Fintech firm’s technology. Ripple’s… Read More

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