Tagged: banking

June 14, 2018 @ 8:55 am By JD Alois  |  

A report by Beauhurst is revealing that challenger bank Redwood has raised £9.8 million as the UK digital banking market heats up. Redwood is the newest addition to the future of banking joining peers, Monzo, Starling, Revolut and more. These are the names that may… Read More

June 13, 2018 @ 3:37 pm By Cali Haan  |  

Consulting firm and provider of market intelligence Greenwich Associates released a report yesterday stating that financial firms doubled blockchain staff and increased blockchain budgets 67% last year, but only 14% of 200 financial institutions polled, “claim to have successfully deployed a production blockchain solution.” Interviews… Read More

June 13, 2018 @ 9:34 am By JD Alois  |  

There is an element of irony that Switzerland is one of the most cryptocurrency focused and forward thinking countries in the world, yet it remains a challenge for blockchain based companies to establish a bank account in the Alpine nation. This week, that changed as Hypothekarbank… Read More

June 5, 2018 @ 12:14 pm By Samantha Hurst  |  

Kony, Inc., an enterprise mobility and digital applications company, announced on Tuesday the launch of its new digital banking solution, Kony DBX. This launch of the solution comes just a little over six months after the expansion of Kony’s digital banking marketplace. According to Kony, the Kony DBX… Read More

June 1, 2018 @ 1:00 pm By Samantha Hurst  |  

Chime, a U.S.-based app-only bank, recently announced it has surpassed one million bank accounts. Founded in 2013, Chime is on a mission to help its members lead healthier financial lives. The company’s service is described to help customers avoid feeds, save money automatically, and improve their… Read More

May 29, 2018 @ 12:41 pm By Cali Haan  |  

In many parts of the Philippines, you’re more likely to encounter a remittance house like Western Union than a bank branch. Cash arrives from abroad, but the access to business loans and mortgages needed to build a self-sustaining economic base are hard to come by…. Read More

May 28, 2018 @ 8:52 pm By Samantha Hurst  |  

Last week, fintech firm Crédit Mutuel announced the extension of its partnership with IBM (NYSE: IBM) to devise new ways of working to better serve the bank’s 12 million customers. Crédit Mutuel reported it has selected IBM Cloud, Watson and advanced cybersecurity technologies to fundamentally change… Read More

May 24, 2018 @ 9:59 am By Samantha Hurst  |  

On Thursday, banking software Temenos announced the launch of Temenos Origination, which is described as a component-based platform that enables banks to onboard customers and originates products across all segments, channels and devices, offering bank customers a frictionless and contextualized digital experience.  According to Temenos,… Read More

May 24, 2018 @ 9:35 am By Samantha Hurst  |  

Sberbank announced on Thursday it has extended more than ₽535 billion in loans to SMEs since the start of 2018. The bank reported that over the first four months of 2018, lending to SMEs increased by 74.4% vs. the same period in 2017. “Sberbank has… Read More

May 23, 2018 @ 7:05 pm By JD Alois  |  

The Office of the Comptroller of the Currency (OCC) issued a Bulletin today encouraging banks to issue small loans to consumers. In past years, banks have shied away from providing credit that was deemed too high risk to pursue and too costly to originate. As… Read More

May 21, 2018 @ 11:16 am By JD Alois  |  

The Economist has published a report on digital banking and the need for established banks to become more agile and adapt to the changes in technology. The document has been published with the support of Temenos, a provider of banking and finance software. The Temenos… Read More

May 18, 2018 @ 6:39 am By Samantha Hurst  |  

On Thursday, the Office of the Comptroller of the Currency (OCC) today announced it will hold Innovation Office Hours, on July 17th-19th, in San Francisco to promote responsible innovation in the federal banking system. According to the OCC, the Office Hours are one-on-one meetings with OCC… Read More

May 14, 2018 @ 2:00 am By JD Alois  |  

Banco BNI Europa, a digital challenger bank based in Portugal, has partnered with Lendrock in Spain to provide financing to consumers looking to buy a car. Banco BNI said it will invest up to €15 million on this online financing platform that specializes in near… Read More

May 12, 2018 @ 10:32 am By Xu Gao  |  

PBOC Bans Unauthorized APP to Access Credit Rating System Recently, the People’s Bank of China (PBOC), China’s central bank, issued a document named, “Notice on Further Strengthening the Management of Credit Information Security” (Yinfa [2018] No. 102) (hereinafter referred to as “Document No. 102”), to… Read More

April 26, 2018 @ 7:24 am By JD Alois  |  

Revolut has claimed Unicorn status. The UK based digital challenger bank has raised $250 million at a valuation of $1.7 billion making it one of the fastest UK Fintechs to top the billion dollar mark ever. Launched in 2015, Revolut will next expand in the… Read More

April 23, 2018 @ 9:57 am By JD Alois  |  

It is a truism that we need bank like services but we really do not need banks. The financial industry is going through a period of disaggregation where some services are being separated from a traditional, brick and mortar service, to Fintech verticals that may… Read More

April 18, 2018 @ 8:27 pm By JD Alois  |  

The crypto firm Basis, formerly known as Basecoin, has raised $133 million in a private placement from big money, according to the company. The private placement received the backing of Bain Capital Ventures, GV, Stanley Druckenmiller, Kevin Warsh, Lightspeed, Foundation Capital, a16z, Wing VC, NFX Ventures,… Read More

April 17, 2018 @ 1:00 am By JD Alois  |  

Revolut’s newest feature Vaults a saving enabler that allows users to round up and save their spare change from everyday purchases. The service is available for any of Revolut’s 25 supported fiat currencies as well as the popular digital currencies Bitcoin, Ether and Litecoin. Revolut say… Read More

April 12, 2018 @ 1:46 pm By JD Alois  |  

The grande dame of peer to peer lending in the UK, Zopa, is raising £50 million at a valuation of £400 million, according to several reports.  SkyNews states this most recent funding round will be led by current investors including Wadhawan Global Capital out of… Read More

April 12, 2018 @ 2:00 am By JD Alois  |  

Cash is king no more. Today’s society is all about mobility and the digitization of all forms of finance. How consumers spend and manage their money has changed dramatically in recent years and that pace of change is accelerating. Revolut is a new breed of… Read More