Tagged: banking

August 5, 2019 @ 9:45 am By JD Alois  |  

Starling Bank CEO and Founder Anne Boden recently published an open letter updating both investors, users and prospectie customers on the progress on the digital only challenger bank. Boden said the bank has now topped 775,000 accounts in total: 695,000 retail current accounts, 59,000 business… Read More

August 3, 2019 @ 12:10 pm By Xu Gao  |  

People’s Bank of China Publishes Trial Regulatory Measures on Financial Holding Companies On July 26th, the People’s Bank of China (PBC) published the Trial Measures on Supervision and Regulation of Financial Holding Companies (Exposure Draft) (hereinafter referred to as the Measures) and sought for feedback… Read More

August 2, 2019 @ 8:33 am By JD Alois  |  

Fintech startup Aximetria GmbH has become a member of the Swiss Financial Services Standards Association (Verein zur Qualitätssicherung von Finanzdienstleistungen or VQF) in a step towards providing financial services in Switzerland. VQF is a Self Regulatory Organization (SRO) and is officially recognized by the Swiss… Read More

August 1, 2019 @ 11:05 am By JD Alois  |  

Digital bank Revolut is now offering commission-free stock trading service. Revolut has indicated its intent to offer a brokerage service in the past. The Fintech is now allowing Revolut Metal customers first access with access to all customers being rolled out in the coming weeks…. Read More

July 31, 2019 @ 2:40 pm By Samantha Hurst  |  

German blockchain banking group Bitwala announced on Wednesday it secured €13 million through its Series A funding round, which was led by Sony Financial Ventures and NKB Group. As previously reported, Bitwala’s mission is to empower people to exchange ideas. The company recently secured €4… Read More

July 29, 2019 @ 8:11 am By JD Alois  |  

Digital-only challenger bank Starling Bank has partnered with SumUp, a mobile point of sale Fintech, to provide small merchants with access to faster settlements. Starling Bank has created not only a digital bank offering but a digital marketplace where both businesses and individuals may access… Read More

July 28, 2019 @ 6:00 pm By Andrés Abumohor  |  

B2B: 3 Opportunities for Fintech in Latin America Latin America’s Fintech industry is booming, with more than 1,166 Fintech startups creating more inclusive financial systems and boosting economic growth in the region. According to the recently published report Fintech in Latin America 2018: Growth and… Read More

July 27, 2019 @ 3:09 pm By JD Alois  |  

Fintech Stackin has raised $4 million from 13 different investors, according to a Form D filed with the Securities and Exchange Commission. According to Crunchbase, Stackin has now raised $7 million in total. Stackin is a steath bank like app that is described as your… Read More

July 27, 2019 @ 2:41 pm By Xu Gao  |  

Peoples Bank of China Releases Measures for Further Opening up the Financial Sector In order to implement the decisions and arrangements of the CPC Central Committee and the State Council on further advancing opening-up, and according to the principle of taking actions “faster rather than… Read More

July 24, 2019 @ 5:23 pm By JD Alois  |  

Fintech Betterment announced yesterday it was becoming more like a bank. The Robo-advisor with more than $15 billion under management revealed “Betterment Everyday”. The new service offered FDIC-insured checking and savings accounts minus all of the typical fees that traditional banks tend to slap on…. Read More

July 24, 2019 @ 2:53 pm By Samantha Hurst  |  

  Arival, a Singapore-based fintech bank for businesses and entrepreneurs, has launched an equity crowdfunding campaign on Crowdcube to raise a minimum of £700,000 in funding. The startup is currently offering 5.51% of equity at a £12,012,061 pre-money valuation. The initiative’s launch comes just a… Read More

July 24, 2019 @ 12:18 pm By JD Alois  |  

Digital bank Starling Bank says it has opened up its business account to many more UK small and medium-sized enterprises by inviting companies with more than one person of significant control (PSCs) to sign up. The Fintech said the move was made in response to… Read More

July 24, 2019 @ 8:52 am By JD Alois  |  

Digital bank Revolut has updated its business banking account offerings. According to Fintech, Revolut for Business has launched two business account plans with no monthly fees. The new business account plans is said to “reaffirm Revolut’s commitment to democratise access to business accounts.” Additionally, Revolut… Read More

July 23, 2019 @ 11:47 am By JD Alois  |  

Fintech Betterment is pushing further into the traditional banking realm. The digital-only platform is will soon offer “Betterment Everyday” which includes an FDIC-insured checking and savings product that will have no account fees, overdraft fees, minimum balances or monthly maintenance fees. The checking service will… Read More

July 23, 2019 @ 9:30 am By JD Alois  |  

MoneyLion has raised $160 million in funding. MoneyLion previously revealed $60 million of this amount but has since added $100 million as part of Series C funding round. MoneyLion is an entrant in the hot challenger bank marketplace. It provides its banking services via a… Read More

July 22, 2019 @ 10:49 am By JD Alois  |  

Not too long ago, the Chinese peer to peer lending industry was growing at a breakneck speed and the largest online lending market in the world. This sector of Fintech was the enormous in China as big names and aspiring platforms moved quickly to fill… Read More

July 22, 2019 @ 9:31 am By Samantha Hurst  |  

UK-based digital banking group Atom Bank announced on Monday it secured £50 million through its latest investment round, which included participation from BBVA, Toscafund, Woodford Patient Capital Trust and funds advised by Perscitus LLP. “Atom continues to be a fast-growing challenger in the UK’s lending… Read More

July 19, 2019 @ 10:58 am By JD Alois  |  

The US Senate Banking Committee will hold a hearing to discuss the emerging legal cannabis industry and the challenges with banking. In the US, legalization of Cannabis, whether it is for medical or recreational use, has been a slapdash state by state affair. Federal legalization… Read More

July 18, 2019 @ 2:56 pm By JD Alois  |  

Goldman Sachs (NYSE:GS) issued its Q2 earnings report this past Tuesday (July 16). Goldman’s shares moved higher following the release after beating expectations on both the top and bottom lines. Goldman also announced an increase in the capital return program including an increase in the… Read More

July 18, 2019 @ 2:06 pm By Samantha Hurst  |  

N26, a European digital-only bank, announced on Thursday a $170 million extension of its Series D funding round to $470 million. N26 reported that the extension drives the bank’s valuation to $3.5 billion, claim it to be the highest valued German startup. To date, N26 has raised more… Read More