Tagged: banking

August 26, 2019 @ 8:20 am By JD Alois  |  

ZhongAn Online (6060:HK), a Honk Kong-listed Insurtech, has reported a profit for the first 6 months of 2019 – the first time in the company’s history, according to a company release. As of 30 June 2019, ZhongAn Online said it provided services to 348 million… Read More

August 24, 2019 @ 11:33 am By Cali Haan  |  

Dutch banks are refusing to serve not only cryptocurrency trading platforms, but also “blockchain consultancies” or any firm using the terms “crypto” or “blockchain” in business filings, Nextens reports. According to the outlet: “An inventory was made in the Cryptocast program of BNR Nieuwsradio. When a… Read More

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

Digital bank Revolut has added to its executive team with several new hires harkening from traditional finance. According to Revolut, the Fintech bank has hired Philip Doyle as Director of Financial Crime Risk, Wolfgang Bardorf as Treasurer and Stefan Wille as Deputy Chief Financial Officer…. Read More

August 22, 2019 @ 8:39 am By JD Alois  |  

Old finance continues to leverage one of its most valuable assets: lots of money. While traditional banks may struggle to innovate and adapt they continue to do what they do best which is to spend money on emerging tech to hedge against a sectorial shift…. Read More

August 22, 2019 @ 8:17 am By Samantha Hurst  |  

Less than a month after it opened its platform in the U.S., digital-only banking group N26 announced it has made its mobile banking app available to U.S. consumers nationwide. Starting today, U.S. residents may now download the app and apply for an N26 account and… Read More

August 21, 2019 @ 12:23 pm By JD Alois  |  

Arival, a digital bank that seeks to be crypto-friendly, has apparently only raised $210,000 of a funding round of $3 million on SeedInvest. The securities offering is being cross-listed on Crowdcube which indicates a larger amount of £348,912 being raised on a hurdle of £700,000…. Read More

August 21, 2019 @ 8:29 am By Samantha Hurst  |  

JP Morgan Chase announced on Wednesday it is planning to shut down its stand-alone mobile app, Chase Pay, in early 2020. But while the stand-alone app will not available any longer, Chase revealed that customers will soon be able to use Chase Pay in more… Read More

August 18, 2019 @ 2:45 pm By Aubrey Hansen  |  

As 2019 moves into its third quarter, the once burgeoning industry of digital banking is starting to make serious waves in the financial world – and investors are taking notice. Big players like Monzo, Starling, N26, Revolut, and EQIBank have recently completed massive funding rounds… Read More

August 18, 2019 @ 8:07 am By Cali Haan  |  

Coinbase, a large, US-based cryptocurrency trading platform, experienced a shake up of its UK banking services this week. On Wednesday, an anonymous “rBitcoin” forum participant on Reddit posted that (Banco) Santander was refusing to deposit money to the individuals’ Coinbase UK account, probably because of… Read More

August 17, 2019 @ 12:05 pm By Xu Gao  |  

Tencent-backed WeBank Fined ¥2 million for multiple violations WeBank, China’s first internet bank, was fined for ¥2 million for multiple violations against Law of the People’s Republic of China on Commercial Banks. In an inspection last year, the Shenzhen branch of the China Banking and… Read More

August 14, 2019 @ 7:01 pm By JD Alois  |  

Digital bank Revolut has integrated Xero, an SME accounting platform, to facilitate seamless business expense reporting. The Revolut for Business app has also been updated for team members to upload receipts and add expense information, according to a release from the company The new “Expense… Read More

August 13, 2019 @ 8:11 am By JD Alois  |  

Challenger bank Tandem has announced the impending launch of a new “crowd-designed” mortgage product for UK consumers.  In a release, Tandem said it plans to offer competitive mortgages to first-time buyers and “property ladder hopefuls” based on a range of financial data points. Tandem said… Read More

August 10, 2019 @ 4:51 pm By JD Alois  |  

SME Peer to peer lending platform Growth Street has joined digital bank Starling Bank‘s marketplace, according to a blog post. Excited to announce that GrowthLine is now available on the #Starling Marketplace! It means your business can apply for and manage your GrowthLine all from… Read More

August 8, 2019 @ 7:42 am By Samantha Hurst  |  

Australia-based global payments provider Verrency announced on Thursday it has teamed up with currency payments provider Coinify to enable banks to securely offer customers the ability to use virtual currency for payments at any merchant around the global. Verrency reported that the partnership will allow… Read More

August 7, 2019 @ 1:51 pm By Samantha Hurst  |  

Denmark banking group Saxo Bank announced this week it has acquired BinckBank, a bank for online investors that is based in the Netherlands. According to the duo, the acquisition of BinckBank marks an important milestone for the Saxo Bank Group that now services approximately 860,000… Read More

August 7, 2019 @ 1:30 pm By JD Alois  |  

Shares in LendingClub (NYSE:LC) are rising during another down market day as the trade war with China has no end in sight and political tempers flare. Shares are currently trading over 10% higher following yesterday’s Q2 earnings report where LendingClub said it expected to finally… Read More

August 7, 2019 @ 12:14 pm By JD Alois  |  

Digital-only bank N26 has opened up its platform to US customers and is sending out invites to download the App and receive an N26 card now. N26, based in Germany, is one of a group of European digital banks crossing the Atlantic to provide services… Read More

August 6, 2019 @ 9:22 pm By JD Alois  |  

According to a recent survey, in Singapore digital banking has some pent up demand. JD Power has published a brief retail banking satisfaction study and, according to their numbers, 65% of consumers are interested in opening digital bank accounts. This is an increase from the… Read More

August 6, 2019 @ 4:55 pm By JD Alois  |  

LendingClub (NYSE: LC), an online lending platform for both borrowers and investors, has posted second-quarter results. While still generating a loss, LendingClub said it was on track to be net income profitable (Adjusted) by Q3. LendingClub took years to originate its first $1 billion. Today,… Read More

August 6, 2019 @ 8:07 am By JD Alois  |  

FinecoBank, a more traditional bank that is seeking to burnish its Fintech credibility, has added the Canadian Stock Exchange to its options for investors. According to a release, traders and investors can now access an additional 250 shares and over 600 ETFs available on the… Read More