Tagged: banking

May 17, 2019 @ 1:50 am By JD Alois  |  

illimity, a banking start-up listed on Borsa Italiana’s MTA exchange, has formed a partnership with Raisin, Fintech marketplace for online savings and investments in Europe. illiminity is a “new generation Italian bank” formed by the merger between SPAXS and Inter-provincial Bank. It plans to reach… Read More

May 15, 2019 @ 5:51 pm By Samantha Hurst  |  

Tink, a Sweden-based fintech that provides APIs to create next-generation banking services, announced on Wednesday it has join forces with banking group SDC to provide 120 Nordic banks access to account aggregation and payment initiation services. According to Tink, the access will allow the banks to… Read More

May 10, 2019 @ 9:22 am By JD Alois  |  

The Founders Bank has appointed Kenan Altunis as Chief Executive Officer. Altunis was most recently Global Co-Head of the Institutional Client Group within Deutsche Bank’s Corporate and Investment Bank where he was responsible for a multibillion-dollar revenue operation and a team of over 1000 people…. Read More

May 9, 2019 @ 8:33 am By Samantha Hurst  |  

The Hong Kong Monetary Authority (HKMA) has issued four more virtual banking licenses. The newly minted digital banks include: Ant SME Services (Hong Kong) Limited, Infinium Limited, Insight Fintech HK Limited, and Ping An OneConnect Company Limited. HKMA said that the four newly licensed virtual… Read More

May 7, 2019 @ 2:40 pm By JD Alois  |  

Challenger bank Tandem has been recognized by CFI.co (Capital Finance International) as the “Best Neo Bank UK 2019.” According to Tandem, the CFI.co judges stated that “Tandem differentiates itself from other banks in the way its people always consider how well a new initiative will… Read More

May 3, 2019 @ 11:08 am By JD Alois  |  

Digital challenger bank Chime raised $200 million in funding earlier this year vaunting the upstart bank into Unicorn status. Chime is one of a growing number of digital banks that seek to challenge the hegemony of traditional banks and their brick and mortar legacies. Yesterday,… Read More

May 1, 2019 @ 12:55 pm By Samantha Hurst  |  

Royal Bank of Scotland (RBS) announced on Wednesday the launch of its online investment service. According to the banking group, the Royal Bank Invest offers customers an opportunity to invest online from  £50, on a self-select or Automated Advice basis. Customers will be able to… Read More

May 1, 2019 @ 10:11 am By JD Alois  |  

Stealth bank Dozens has closed their crowdfunding round on Seedrs having raised £3.815 million (about $5 million) at a pre-money valuation of £20 million. Dozens had sought a minimum raise of £3.5 million. According to a release, 2,156 investors from 42 different countries invested in… Read More

April 26, 2019 @ 12:25 pm By Samantha Hurst  |  

Russian banking group Sberbank announced on Friday it has redeemed first issue of its reatil investment-grade bonds. According to Sberbank, the yield of this issue depended on the performance of Gazprom’s American depositary receipts (ADRs) and was 20.14% for the maturity period (9.61% per annum). … Read More

April 25, 2019 @ 10:49 am By JD Alois  |  

France is a country that is aggressively pursuing blockchain innovation. Crowdfund Insider’s recent coverage of Paris Blockchain Week highlighted this fact as both policymakers and innovators appear to be on the same page. Now, big banking is moving forward in the crypto space by actually… Read More

April 22, 2019 @ 3:07 pm By JD Alois  |  

While everyone in the mobile community is talking about when 5G hits and how the world will change forever as  HD movies download in minutes and VR actually works like VR should, T-Mobile is talking about another innovation; one of the Fintech kind. T-Mobile is… Read More

April 22, 2019 @ 8:22 am By JD Alois  |  

Digital investment bank wevest has announced it has selected Stellar as its preferred iteration of blockchain for issuance of security tokens. In a blog post, the Berlin-based Fintech stated: “After extensive diligence and testing, wevest has identified Stellar as the most suitable platform for its… Read More

April 20, 2019 @ 5:16 pm By JD Alois  |  

Robinhood, a Fintech brokerage firm that combines traditional securities with digital assets in a single app, has applied for a national bank charter with the Office of the Comptroller of the Currency (OCC), according to a report by the San Francisco Business Times. Last December,… Read More

April 16, 2019 @ 3:37 pm By JD Alois  |  

Last week, Federal Reserve Governor Michelle W. Bowman delivered a speech at the “Fed Family” luncheon at the Federal Reserve Bank of San Francisco. The topic of her presentation was “Community Banking in the Age of Innovation.” Bowman joined as a member of the Board… Read More

April 15, 2019 @ 7:13 am By JD Alois  |  

Research compiled by YouGov, Seedrs, and banking app Dozens, shares a dim view of financial sophistication in the UK. According to the report, a majority of UK adults are poorly informed about financial services and planning for their future. The study conducted by YouGov was… Read More

April 13, 2019 @ 4:00 pm By Xu Gao  |  

China Implements First National Standard for Insurance Sector On April 11th, China has implemented its first national standard for the insurance industry. The national standard incorporates 817 entries of professional terms, serving as a fundamental standard for various terms in the insurance sector, according to… Read More

April 10, 2019 @ 10:40 am By JD Alois  |  

Welab Digital Limited (WDL) has been approved by the Hong Kong Monetary Authority (HKMA) to receive a virtual banking license. This is the 4th license for a virtual bank which is now approved to operate in Hong Kong since a consultation on digital banking took… Read More

April 3, 2019 @ 2:31 pm By Samantha Hurst  |  

Wells Fargo & Company (NYSE: WFC) announced on Thursday the launch its new contactless consumer credit and debit cards. According to Wells Fargo, the cards will allow customers to complete a transaction quickly with a single tap at millions of merchants, including transit systems, around… Read More

March 30, 2019 @ 4:01 am By Xu Gao  |  

Parent Company of Shuidi Crowdfunding Receives nearly ¥500 million B-round Funding led by Tencent Shuidi, the parent company of Shuidi Crowdfunding and Shuidi Mutual Insurance, announced this week that it had received a nearly ¥500 million B-round financing. This investment was led by Tencent, and… Read More

March 28, 2019 @ 1:49 pm By JD Alois  |  

InvestHK (Invest Hong Kong) commented on the news this week that the Hong Kong Monetary Authority (HKMA) had approved the first three virtual banking licenses. InvestHK’s vision is to strengthen Hong Kong’s status as the leading international business location in Asia. Their mission is to… Read More