Tagged: banking

July 8, 2025 @ 6:23 am By JD Alois  |  

Monzo, a top UK-based digital bank, has been hit with a penalty of £21,091,300 for “inadequate anti-financial crime systems and controls.” In a public statement the UK Financial Conduct Authority said the infratctions took place between October 2018 and August 2020. The FCA stated that… Read More

July 7, 2025 @ 7:18 am By Omar Faridi  |  

In a boost to Mexico’s Fintech sector, Klar, a Mexico City-based digital bank, has raised $190 million in a Series C funding round, achieving a valuation exceeding $800 million. The funding round was led by US private equity firm General Atlantic, described as a pivotal… Read More

July 5, 2025 @ 12:15 pm By JD Alois  |  

Zopa, a regulated digital bank, says it has opened a new office in Manchester with plans to hire up to 500 new employees over time. The Zopa Manchester office is expected to initially provide space for a team of over 50 employees, Zopa states that… Read More

July 4, 2025 @ 10:35 am By Omar Faridi  |  

Nubank (NYSE: NU), one of the world’s digital financial services platforms, has recently made two significant announcements that confirm its commitment to innovation, global expansion, and customer-centric solutions. The appointment of Roberto Campos Neto as Vice Chairman and Global Head of Public Policy, alongside the launch… Read More

July 3, 2025 @ 3:52 am By JD Alois  |  

Qonto has filed for a banking license, according to a public statement. Qonto, a Fintech that is already serving more than 600,000 SMEs and freelancers in eight different countries including France, Germany, Italy, Spain, the Netherlands, Belgium, Portugal, and Austria. Qonto is currently operating under… Read More

July 3, 2025 @ 1:15 am By Omar Faridi  |  

Santander announces that it has reached an agreement to acquire 100% of TSB Banking Group plc (TSB) from Banco de Sabadell, S.A. (Sabadell), with a valuation of “£2.65 billion (approximately €3.1 billion) in an all-cash transaction.” TSB is said to be a well-established UK retail… Read More

July 2, 2025 @ 10:12 am By Tony Zerucha  |  

New research from JD Power reveals that the overall financial health of retail bank customers in the United States declined in May following two consecutive months of improvement as they confront an uncertain economy and persistently high cost of goods. The top reasons cited among those… Read More

July 1, 2025 @ 10:11 am By Omar Faridi  |  

The Office of the Comptroller of the Currency (OCC) reported the key issues facing the federal banking system in its Semiannual Risk Perspective for Spring 2025. The OCC reported that the strength of “the federal banking system remains sound.” Consumer sentiment, geopolitical risk, sustained higher interest… Read More

June 28, 2025 @ 4:10 pm By Omar Faridi  |  

Digital bank Revolut has announced its acquisition of Banco Cetelem Argentina, a modest local lender owned by French banking giant BNP Paribas. This deal marks Revolut’s entry into Argentina, South America’s second-largest economy, and underscores its strategy to penetrate emerging markets. The acquisition, reported by… Read More

June 27, 2025 @ 8:31 am By Omar Faridi  |  

Innovation Norway has selected Knowit and Mambu to modernise its core banking platform, marking a significant milestone in the digital transformation of public financial services. The solution, powered by Mambu’s cloud-native technology and seamlessly integrated “into the Norwegian financial systems by Knowit, will optimize Innovation Norway’s loan, grant, and guarantee… Read More

June 26, 2025 @ 4:24 pm By Omar Faridi  |  

iCapital, the global fintech platform shaping the future of investing, announced a partnership with LGT, an international private banking and asset management group that has been “fully controlled by the Liechtenstein Princely Family for over 90 years.” Through this collaboration iCapital and LGT launched a… Read More

June 24, 2025 @ 10:08 am By JD Alois  |  

Digital Bank Zopa says its mission is to become the “home of money,” and it has added a new service called “Biscuit.” Biscuit is a current account that claims a superlative digital experience along with high interest rates paid to users. The new current account… Read More

June 24, 2025 @ 2:08 am By Omar Faridi  |  

The European Central Bank (ECB) has recently announced two significant developments that underscore its commitment to enhancing financial stability and efficiency across the euro area. On June 23, 2025, the ECB published its consolidated banking data for end-December 2024, providing a comprehensive overview of the… Read More

June 21, 2025 @ 4:50 pm By Omar Faridi  |  

Young customers aged 18-25 are using the CommBank app’s free money management tools 65 per cent more than any other generation, with those in this age group who use them also two thirds more likely to boost how often they save. On average, the young… Read More

June 21, 2025 @ 4:09 pm By Michael Wong  |  

Thailand has approved three applicants to establish virtual banks, in a move aimed at promoting financial innovation, expanding access to underserved markets, and enhancing competition in the country’s banking sector. The Ministry of Finance, acting on the advice of the Bank of Thailand (BOT), said… Read More

June 17, 2025 @ 11:57 am By JD Alois  |  

Silicon Prairie, a multifaceted Fintech Company in the securities crowdfunding sector, is interested in acquiring a community bank. In a recent LinkedIn post, Silicon Prairie founder and CEO David Duccini stated that they are not a traditional Fintech story, but rather a Capital Technology firm… Read More

June 9, 2025 @ 8:10 am By Omar Faridi  |  

European digital  bank N26 is making strides in both the financial and telecommunications sectors with its strategic business moves. The Berlin-based neobank is reportedly exploring a new funding round that could reshape its investor landscape while simultaneously breaking new ground by becoming the first digital… Read More

June 8, 2025 @ 3:57 pm By Omar Faridi  |  

In the first quarter of 2025, banks reclaimed ground across the automotive finance industry, signaling notable market share growth. According to Experian’s State of the Automotive Finance Market Report: Q1 2025, banks’ total market share increased to 26.55% during the quarter, from 24.79% in Q1… Read More

June 7, 2025 @ 5:28 pm By Michael Wong  |  

TBC Bank Group PLC has issued a $200 million bond to accelerate the growth of TBC Uzbekistan, its rapidly expanding digital banking arm, as the group deepens its footprint in Central Asia’s largest economy. The synthetic three-year bond, denominated in Uzbek sum and settled in… Read More

June 6, 2025 @ 11:41 am By Omar Faridi  |  

TransactPay, a provider of UK & European BIN sponsorship and modular payment, debit, credit and prepaid services, has partnered with Griffin, the UK’s bank for fintechs and platforms. This partnership strengthens TransactPay’s banking infrastructure and enhances its “product offering for card programs in the UK.”… Read More