Tagged: banking

March 14, 2017 @ 9:08 am By Samantha Hurst  |  

App-only bank Monzo (formally know as Mondo) has completed the pre-registration portion of its second equity crowdfunding campaign. The company sought to raise £2.5 million, and by the end of the pre-registration round, it secured £12 million. A total of 41,267 people pledged to invest. More than £12… Read More

March 2, 2017 @ 1:53 pm By Samantha Hurst  |  

Just a little over 48 hours after opening pre-registration for its upcoming equity crowdfunding campaign on Crowdcube, app-only bank  Monzo (formally know as Mondo) has attracted more than £8.8 million in interest. The company’s original target for the funding round was £2.5 million, and the funds from the… Read More

February 28, 2017 @ 2:57 pm By Samantha Hurst  |  

App-only bank Monzo (formally know as Mondo) announced on Tuesday it opened pre-registration for its new equity crowdfunding campaign. Originally seeking £2.5 million, the company has attracted more than £5.8 million in interest so far. As previously reported, Monzo launched its first crowdfunding campaign on Crowdcube and raised… Read More

February 27, 2017 @ 4:04 pm By JD Alois  |  

Oracle is one of the largest software and services company in the world. Only second to Microsoft, Oracle has grown and pushed into a multitude of verticals and businesses. Today much of Oracle’s business has to do with Enterprise Resource Planning (ERP) software – massive… Read More

February 11, 2017 @ 9:35 pm By Jessica Pham  |  

While the Western world and other parts of Asia surge forward with fintech innovations, from blockchain technology to digital banking features and services, Myanmar celebrates other banking development wins as the country continues to modernize. Earlier this week, Enterprise Innovation reported that Myanmar — formerly known… Read More

December 14, 2016 @ 12:53 pm By JD Alois  |  

Fitch Ratings is out with a note on the recently announced Comptroller of the Currency (OCC) Fintech charter. The OCC has crafted a document to allow digital banks to become regulated entities by receiving federal bank charters. Fitch is of the opinion the Fintech charter… Read More

December 7, 2016 @ 1:01 pm By Andreas Barthelmess  |  

Whether Amazon, Airbnb or price comparison websites: In many industries, digitalisation has shifted power to customers in the last ten years. The banking industry, however, has remained resilient against radical changes for a long time. In fact, things like digital transparency and the power of… Read More

December 2, 2016 @ 3:44 pm By JD Alois  |  

Thomas Curry, Comptroller of the Currency, Officially Announces Bank Charters for Fintech In a speech delivered at Georgetown University today, Thomas Curry, Comptroller of the Currency, announced the creation of special purpose national bank charters for Fintech companies. The announcement was driven by an ongoing discussion… Read More

November 21, 2016 @ 10:03 am By Samantha Hurst  |  

On Monday, Metro Bank announced it has teamed up with fintech company Backbase to launch a new commercial banking platform. This collaboration was reportedly established to further Metro Bank’s customer base expansion. According to Metro Bank, the new banking platform will allow customers to have… Read More

November 10, 2016 @ 8:00 am By Jessica Pham  |  

Blackmoon Financial Group, an online lending platform that connects balance sheet lenders with institutional investors looking to purchase new loans, announced today its latest round of funding; $2.5 million in equity capital from Target Global, A&NN Group, Flint Capital, and several private investors. Blackmoon intends to use the new round… Read More

October 18, 2016 @ 9:29 am By JD Alois  |  

The Financial Conduct Authority (FCA) has published its final report on the investment and corporate banking sector.  The document was created to help foster competition in the this sector of finance.  The report reflects the interim publication that was released this past April. Christopher Woolard,… Read More

September 13, 2016 @ 6:25 pm By JD Alois  |  

Urban FT was one of the many different early stage Fintech companies presenting at Finovate last week. Like many of the young companies in attendance, Urban FT is seeking to help old finance become new and thus reinvigorating traditional brands and financial services.  As many… Read More

September 8, 2016 @ 1:32 pm By Samantha Hurst  |  

White-label digital banking platform provider, Urban FT, announced on Thursday it has launched its management portal, which will enable financial institutes the ability to create custom digital programs. The company reports the companies can build the programs within just hours and then after deployment the… Read More

September 7, 2016 @ 1:41 pm By JD Alois  |  

Online banking software provider Mambu is reporting that it is experiencing accelerating growth. According to Mambu, during the past 12 months platform utilization has been growing by 10% month on month and is now being used to help manage $600 million.   Mambu was launched… Read More

August 31, 2016 @ 7:15 am By JD Alois  |  

The US Consumer Financial Protection Bureau (CFPB) has filed a monthly complaint report for banks and other financial services. The monthly report uses a three-month rolling average, comparing the current average to the same period in the prior year. CFPB Director Richard Cordray commented on… Read More

August 25, 2016 @ 2:09 pm By Samantha Hurst  |  

It’s official – Mondo has a new name! The company announced on Thursday during a live video presentation that after months of customer voting, it is now to be called, Monzo! The now formerly known as Mondo crew confirmed earlier this summer that they were… Read More

August 9, 2016 @ 11:09 am By JD Alois  |  

The Competition & Markets Authority announced sweeping changes to the UK banking industry today. The update to the retail banking sector was driven by an acknowledgement that little competition existed within the retail banking sector and thus consumers were coming up short in regards to… Read More

August 9, 2016 @ 9:50 am By JD Alois  |  

“CMA Sticks to its Guns” The Competition and Markets Authority (CMA) has published its final report on the UK retail banking sector. The government initiative has concluded that highstreet banks do not compete enough for customers’ business. Simultaneously, challenger banks find it difficult to compete… Read More

July 13, 2016 @ 2:01 pm By JD Alois  |  

At a Congressional hearing yesterday on Marketplace Lending that was described as being “educational”, Rob Nichols, of the American Bankers Association,  presented testimony and answered questions along with several other individuals engaged in finance. While the topic was  ostensibly “Fintech”, a better label may have… Read More

May 20, 2016 @ 3:33 pm By Samantha Hurst  |  

Less than 48 hours after launching its highly anticipated Seedrs initiative, digital-only bank, Tandem, has successfully secured over £2 million from over 1,300 investors. The company surpassed its  initial £1 million goal just hours after the crowdfunding debut.  The bank currently aims to provide the most helpful, not… Read More