Tagged: banking

June 8, 2019 @ 12:38 pm By JD Alois  |  

Goldman Sachs (NYSE:GS) CEO David Salomon reportedly told an audience last week that his company is getting zero credit for its digital bank startup Marcus. “If we were out in Silicon Valley and made 20% of the progress that we’ve made, we would get a… Read More

June 6, 2019 @ 12:00 pm By JD Alois  |  

Banking financial service software provider Synapse has closed on a Series B Funding round led by Andreessen Horowitz (a16z). Synapse raised $33 million in the funding round with participation from existing investors Trinity and Core Innovation Capital. As part of the investment, Angela Strange (General… Read More

June 6, 2019 @ 11:41 am By JD Alois  |  

Last year, in the month of June, with great fanfare JP Morgan Chase announced the launch of a “fully digital banking experience Finn by Chase.” Today, Finn is dead. At the time of the launch, JPM Chase said the new-shiny iOS App would provide a… Read More

June 3, 2019 @ 8:05 am By JD Alois  |  

Digital challenger bank Penta has appointed a new Chief Executive Officer. Marko Wenthin, co-founder of solarisBank, will move into the CEO role joining the management team consisting of Jessica Holzbach, Chief Customer Officer, Luka Ivicevic, Chief of Staff, Lukas Zörner, Chief Product Officer and Matteo Concas,… Read More

May 30, 2019 @ 8:58 am By JD Alois  |  

Long anticipated, digital challenger bank Revolut has added ApplePay to its growing list of services. The option to add a Revolut card to ApplePay is reportedly popping up across Europe. Apparently, Apple Pay is only officially available in the UK and France but according to… Read More

May 24, 2019 @ 12:31 pm By JD Alois  |  

At one time, Loot had all the appearances of a promising young Fintech. Launched in 2014, in January of this year, it was reported that the Royal Bank of Scotland (RBS) had taken a 25% stake in the startup as it prepared to launch a new… Read More

May 23, 2019 @ 11:31 am By JD Alois  |  

Aspiring Fintech Loot has shuttered its doors and gone into administration. According to a statement posted on their website, Loot has hired Henry Anthony Shinners and Adam Henry Stephens of Smith & Williamson LLP to handle the dissolution. The Royal Bank of Scotland (RBS) was… Read More

May 22, 2019 @ 12:41 pm By JD Alois  |  

Fintech Unicorn and stealth bank Transferwise has raised $292 million at a valuation of $3.5 billion. According to multiple reports, Transferwise has doubled its valuation in contrast to its last funding round. The round was said to be over-subscribed. Transferwise last raised capital at a… Read More

May 22, 2019 @ 9:33 am By JD Alois  |  

Challenger bank Tandem has formed a partnership with “social mobility charity,” Brightside, to educate the youth on financial management. According to Tandem, a pilot program has been launched to deliver a program to a North London school to students aged 16 to 18 “offering a… Read More

May 18, 2019 @ 10:43 am By JD Alois  |  

Digital bank Revolut has grand plans to expand its services around the world. Based in the UK, the Fintech now serves over 4 million customers in the European Economic Area (EEA), Switzerland, and Australia. A Fintech Unicorn, Revolut has not been shy about its intent… Read More

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