Tagged: banking

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

April 4, 2018 @ 8:41 am By Samantha Hurst  |  

UK-based challenger bank Monzo announced on Wednesday it is set to close its Prepaid Beta, which was launched in March 2016 to make sure the bank was “building something” that consumers actually needed. While sharing details about its growth since the Beta’s launch, Monzo stated:… Read More

March 29, 2018 @ 6:05 pm By Georgia Quinn  |  

This past week, I had the chance to attend a Fintech focused event put on by the Consulate of France in Manhattan and, honestly, I came away very impressed. For too many years, France did not have much of a reputation in the startup world…. Read More

March 27, 2018 @ 4:13 pm By Samantha Hurst  |  

Ally Financial Inc. (NYSE: ALLY), a Michigan-based digital financial services company, is set to open a new innovation hub in the Camp North End, which is located in Charlotte, North Carolina. The company describes itself as an award-winning online bank and one of the largest full-service… Read More

March 26, 2018 @ 8:55 am By JD Alois  |  

Penta, a Berlin-based Fintech, has announced a new feature to digitize company formation in Germany. Penta has launched “Compass” a platform that enables businesses to incorporate, create a share structure and open a bank account in less than 24 hours unlike the weeks long process… Read More

March 25, 2018 @ 10:04 am By JD Alois  |  

Aspiring “crypto-bank” Crypterium says it will see its token trade on the HitBTC exchange beginning March 26th. The CRPT coins are already trading on EtherDelta but this may not be an official agreement between the company and exchange. Crypterium has stated: “Do not rely on P2P… Read More

March 22, 2018 @ 7:49 am By JD Alois  |  

Digital challenger bank Revolut will now allow customers to setup and pay online with disposable virtual cards.  According to Revolut, after each transaction, existing card details will be destroyed and new  card details automatically generated. Revolut is offering the new service in a unique way… Read More

March 21, 2018 @ 2:20 pm By JD Alois  |  

Crypterium, the “crypto bank for everyone”, has hired James Davies as their Chief Financial Officer (CFO). Davies will oversee the payment partner and exchange integration and the all of the company’s finance functions. Crypterium launched an initial coin offering (ICO) last October for a crowdsale… Read More

March 15, 2018 @ 3:00 am By JD Alois  |  

Digital challenger bank Revolut has announced EUR Direct Debits or European customers thus facilitating direct debits for automated payments. The traditional bank alternative now facilitates easy monthly payments such as  phone bills, utilities and other regular services. Revolut points out they already allow European customers… Read More

March 8, 2018 @ 8:50 am By Samantha Hurst  |  

BABB (Bank Account Based Blockchain), an FCA authorized payment institution headquartered in the Level39 fintech accelerator in Canary Wharf, announced on Wednesday it successfully raised its targeted $20 million in a sold-out initial coin offering (ICO) and is now set to open its first regulated blockchain-based bank accounts before… Read More

February 14, 2018 @ 1:55 pm By Samantha Hurst  |  

UK challenger bank Monzo announced on Wednesday it has launched its Pulse feature on Android smartphones. Pulse notably allows users to see how much money they have in their Monzo account, and their balance for the month so far. The Monzo team revealed: “More than 40%… Read More

February 13, 2018 @ 2:53 pm By Samantha Hurst  |  

Radius Bank, a full-service bank serving consumers through its virtual platform, announced on Tuesday it has teamed up with New York fintech Mantl to launch its new digital account opening. According to Radius, through the platform consumers will now have a frictionless account opening experience… Read More

February 10, 2018 @ 8:26 am By JD Alois  |  

The Hong Kong Monetary Authority (HKMA) has released a revised “Guideline on Authorization of Virtual Banks” as part of a public consultation. Hong Kong, initially slow to embrace the Fintech revolution, has since increased their innovative velocity in financial services. The HKMA welcomes digital challenger… Read More