Tagged: banking

March 5, 2019 @ 11:40 am By Samantha Hurst  |  

UK-based fintech startup, Upgrade Pack, has launched an equity crowdfunding campaign on Seedrs to raise £500,000. Founded in 2018, Upgrade Pack is described as a closed marketplace where airlines and hotels make discounted upgrades available to an exclusive membership consumer base. The company revealed: “Our… Read More

March 1, 2019 @ 4:41 am By JD Alois  |  

Last week, digital bank Xinja closed its second crowdfunding round on Equitise having raised $2,589,781 from 1,568 investors. The round had set a top limit of The party isn’t over until the last Xinja sings 👩‍🎤👨‍🎤🎤(invests) 3⃣hrs to go peeps! Giddy up 🏇our crowdfund closes… Read More

February 25, 2019 @ 9:42 am By JD Alois  |  

There has been growing chatter that Square (NYSE: SQ) may soon receive approval regarding their application to become an Industrial Loan Company (ILC) which is similar to a bank. The change of leadership at the FDIC has set a more positive tone for Fintechs and their… Read More

February 24, 2019 @ 6:57 pm By Hussein Ahmed  |  

Recent disruption in financial services has been driven by several factors – technologically savvy and connected customers, tighter government regulations, aggressive new Fintech market entrants and more. However, another potentially huge disruptor has been bubbling below the surface for several years now and is finally… Read More

February 22, 2019 @ 5:15 pm By JD Alois  |  

ClearBank, a challenger clearing bank (the UK’s first new clearing bank in more than 250 years), has been awarded a grant from the RBS Alternative Remedies Package of £60 million. The grant is one of three from Pool A of the Capability and Innovation Fund that forms… Read More

February 22, 2019 @ 4:48 pm By JD Alois  |  

Recently, it was announced that Fincross International will be the lead sponsor for the upcoming Security Token Summit taking place in LA this spring – as well as CIS. A relatively new company, Fincross is described as “a next-generation digital investment bank.” The digital investment bank… Read More

February 22, 2019 @ 2:36 am By JD Alois  |  

Nik Storonsky, the CEO and co-founder of digital bank Revolut, has told the UK Government to create specialised tech visas for professionals to ameliorate growing concerns of Brexit fallout. Revolut said it plans on doubling its workforce in the coming months as it expands services and… Read More

February 15, 2019 @ 1:51 am By Cali Haan  |  

An executive at HSBC has claimed the global bank’s new distributed ledger system for settling Forex trades is 25% more efficient than previous systems, Reuters reports. The system, HSBC FX Everywhere, is reportedly handling 3500-5000 foreign currency trades per day, though HSBC would not confirm what… Read More

February 14, 2019 @ 9:56 am By JD Alois  |  

Nomo Banking, an App based banking service targeting freelancers, has added Raisin’s service to its platform. The bank will now offer its customers multiple options for overnight accounts and fixed-term deposits via Europe’s #1 deposit marketplace. Raisin currently provides access to over 65 different products… Read More

February 11, 2019 @ 10:36 pm By JD Alois  |  

The House Subcommittee on Subcommittee on Consumer Protection and Financial Institutions, part of the Financial Services Committee, has scheduled a hearing for Wednesday, February 13th to discuss the Cannabis industry and access to financial services. The Hearing, entitled Challenges and Solutions: Access to Banking Services for Cannabis-Related… Read More

February 6, 2019 @ 4:18 pm By Samantha Hurst  |  

Anna Money, a UK-based fintech that specializes in SME business banking, has received an £8.5 investment from tech investment firm, Kinetik. Founded in 2017, Anna, which stands for Absolutely No-Nonsense Admin, describes itself as a business current account for startups and small businesses. The company manages invoicing and comes… Read More

February 6, 2019 @ 11:40 am By JD Alois  |  

The House Financial Services Committee, Subcommittee on Consumer Protection and Financial Institutions, has scheduled a hearing for later next week to discuss the topic Cannabis and banking in a hearing entitled “Challenges and Solutions: Access to Banking Services for Cannabis-Related Businesses.” The Subcommittee is Chaired by New… Read More

February 6, 2019 @ 2:21 am By Cali Haan  |  

Three large banks in Japan, players in the country’s “crowded” payments market, have decided to abandon a cooperative pilot undertaken in 2017 to create a peer-to-peer remittance network, Nikkei Asian Review (NAR) reports. The three banks- Mizuho Financial Group, Sumitomo Mitsui Financial Group and Mitsubishi UFJ Financial Group– will… Read More

February 5, 2019 @ 8:00 pm By JD Alois  |  

Revolut has announced an agreement with WeWork to provide Revolut for Business customers with 3 months free “hot desk space.” WeWork is one of the leading shared office space providers that has a reputation for hosting legions of early-stage companies around the world. The privately… Read More

February 4, 2019 @ 8:42 am By JD Alois  |  

dozens, a “new banking and wealth management alternative” wants to be where you save your money. dozens will accomplish this by providing proprietary financial products including a 5% annual interest rate which will make high-interest rates accessible to more people. dozens is placing the money… Read More

February 2, 2019 @ 1:41 pm By JD Alois  |  

Dinosaur Financial Group issued a release on their relationship with tZero, Overstock’s digital asset trading marketplace, on Friday. The announcement that Dinosaur’s institutional brokerage firm was partnering with tZero was old news. A few days prior, tZero had announced the commencement of trading via Dinosaur as the “introducing… Read More

February 2, 2019 @ 10:29 am By JD Alois  |  

The UK and Europe and other jurisdictions are not alone in pursuing the digital banking revoluation. In Australia, Xinja is following in the footsteps of platforms like Revolut and Monza by raising growth capital on a crowdfunding platform. Several weeks into their public campaign on… Read More

January 29, 2019 @ 5:26 pm By JD Alois  |  

Digital challenger bank Jeitto has that it has closed on a new funding round led by Accion Venture Lab, a seed-stage investment initiative of global nonprofit Accion. The amount of funding was not disclosed. Accion was described as a strategic investor with “extensive global investment… Read More

January 29, 2019 @ 11:28 am By JD Alois  |  

Oxygen, a digital-only bank targeting freelancers, has received $2.3 million in funding to boost their team and fuel growth.  Oxygen claims more than 13,000 bank accounts opened over the last several months, a single digit default rate and a 19% return on capital. Oxygen says… Read More

January 29, 2019 @ 7:47 am By JD Alois  |  

Digital challenger bank Revolut has provided some additional details into their strategy for international expansion. Long forecasted, the global rollout of the bank has yet to breach the confines of Europe. To facilitate the expansion, Revolut said they are creating an “elite global licensing team”… Read More