Tagged: banking

July 1, 2019 @ 3:14 am By JD Alois  |  

The Monetary Authority of Singapore (MAS) will issue five new “digital bank licenses” according to the financial regulator. MAS said this was in addition to any existing Singapore banks which may also offer digital banking under existing rules. MAS said the new rules extend digital… Read More

June 27, 2019 @ 11:50 am By Samantha Hurst  |  

UK challenger bank Monzo has published its 2019 annual report. According to Monzo. The annual report is a detailed look at what a company’s been doing and how that’s affected its finances over the past financial year. CEO of Monzo, Tom Blomfield, has also written… Read More

June 26, 2019 @ 10:44 am By JD Alois  |  

N26, a digital challenger bank based in Germany, expects to launch in the US in the coming weeks. A series D funding round announced in early 2019 was described as providing the war-chest necessary to launch, and compete, in the highly fragmented US banking marketplace…. Read More

June 26, 2019 @ 9:07 am By Samantha Hurst  |  

Fintech Unicorn and stealth bank Transferwise announced on Tuesday it has launched its debit Mastercard in the U.S.  It was revealed that TransferWise debit Mastercard was built specifically for people “without borders.” TransferWire further explained: “The TransferWise debit Mastercard can be up to 4x cheaper… Read More

June 26, 2019 @ 7:41 am By JD Alois  |  

Revolut has announced that Apple Pay is rolling out in 12 more countries: Bulgaria, Croatia, Cyprus, Estonia, Greece, Latvia, Lithuania, Malta, Portugal, Romania, Slovakia, and Slovenia. That makes 28 markets that Apple pay is available for Revolut customers. Revolut customers may use their iPhone, iPad,… Read More

June 26, 2019 @ 1:23 am By Cali Haan  |  

There has been much trepidatious commentary issued since Facebook announced its Libra Coin cryptocurrency venture last week. Politicians have warned that Libra, a payment system purportedly intended to help bank the unbanked and grant them access to low-cost remittances (while profiting Facebook), could run afoul of… Read More

June 25, 2019 @ 2:46 pm By JD Alois  |  

Varo Money, one of a handful of US-based digital challenger banks seeking to receive a bank charter from the Office of Comptroller of the Currency (OCC), is shutting down its consumer lending division, according to a reliable source. Multiple employees are said to be looking… Read More

June 25, 2019 @ 8:39 am By JD Alois  |  

Peer to peer lender and digital bank Zopa is out with note highlighting the fact that consumers too frequently do not receive the interest rate they expect when applying for a loan. In fact, Zopa states that an astounding two-thirds of loan applicants are offered… Read More

June 25, 2019 @ 2:36 am By Cali Haan  |  

Banking technologists Martin Walker, Keith Pritchard and Professor David L Yermack debated the promise and realities of blockchain and distributed ledger technologies on a panel that opened the most recent Mapping the Financial Frontier Conference. The conference was held at Federal Reserve Bank in Atlanta,… Read More

June 24, 2019 @ 9:27 pm By Cali Haan  |  

Last week’s announcement of “Libra,” Facebook’s move into creating a cryptocurrency payments infrastructure to underpin its social network, was met with considerable fanfare and may have induced a rally in the price of Bitcoins. But several pundits on Yahoo have noted that so far, banks… Read More

June 23, 2019 @ 12:44 pm By JD Alois  |  

Online lending is the future. Everybody knows that. It is easier, faster, and more convenient for both lender and borrower. Over the past decade or so, a good number of direct lenders, be they balance sheet, marketplace or other, have cropped up to service the… Read More

June 21, 2019 @ 7:15 am By JD Alois  |  

Facebook’s push into cryptocurrency has engendered an exceptional amount of debate and discussion. Some people think it is great. Others, not so much. It doesn’t help that Facebook is a company that has a penchant for abusing their user data while claiming transparency and actually… Read More

June 17, 2019 @ 10:43 pm By JD Alois  |  

Aspiring bank Mt Pelerin has announced a “one-stop shop” service to help companies tokenize and issue securities using blockchain tech. Mt Pelerin’s new tool is described as “giving companies of any size the possibility to access fundraising methods like IPOs more easily and without significant… Read More

June 14, 2019 @ 11:34 am By Samantha Hurst  |  

Russian banking group Tinkoff announced on Thursday the launch of its new product, Oleg. According to Tinkoff, Oleg is a voice assistant for financial and lifestyle-related tasks. The product’s mission is to help users navigate within the Tinkoff platform and make customers’ lives simpler. “Oleg… Read More

June 13, 2019 @ 2:47 pm By Samantha Hurst  |  

Germany-based challenger bank N26 announced on Wednesday it is now offering its banking service to 3.5 million customers worldwide. The company also revealed that it is a global employer with more than 1300 employees across 60 nationalities. “As well as headquarters in Berlin, offices in New… Read More

June 13, 2019 @ 12:53 pm By JD Alois  |  

Digital challenger bank Monzo has crossed the Atlantic and entered the US marketplace. On the same day competitor Revolut announced an expansion into Australia, Monzo announced banking services in the US in a release and a blog post. A signup form is available on the… Read More

June 13, 2019 @ 7:17 am By JD Alois  |  

Digital bank Revolut has traveled half-way around the world to set up operations in Australia with an office in Melbourne. This is the first step by Revolut to provide banking services beyond European borders. According to a release from Revolut, the digital bank is operating… Read More

June 11, 2019 @ 9:48 pm By JD Alois  |  

Digital challenger bank Arival is now accepting reservations for preferred stock on SeedInvest. Arival will be a crypto-friendly bank – unlike most traditional banks in the United States which tend to be crypto-averse. The bank was founded on the notion that banks in many places… Read More

June 9, 2019 @ 4:00 pm By Katie Griffing  |  

3 Fintech Trends to Watch in Latin America Latin America is one of the fastest-growing regions in the world for mobile usage. In fact, the region ranks third for smartphone adoption globally, behind North America and Europe In 2017, the percentage of the Latin American… Read More

June 8, 2019 @ 5:40 pm By JD Alois  |  

Invest Hong Kong Appoints New Head of Fintech King Leung has been appointed Head of Fintech at InvestHK which took effect in early May. Leung will lead a specialist Fintech team with the objective of attracting top innovativeFfintech companies, entrepreneurs, investors, accelerators and R&D institutions… Read More