Tagged: banking

Open Financial Technologies and MEDICI Release Banking-as-a-Service Report at Singapore Fintech Festival

Open Financial Technologies Pvt Ltd, Asia’s first neobank for small and medium enterprises (SMEs) and startups, and MEDICI Global Inc, a Fintech research and innovation advisory company, have unveiled an extensive report on Banking-as-a-Service (BaaS) at the Singapore FinTech Festival. According to a release, the… Read More

Revolut Appoints New Chairman of the Board: Martin Gilbert former Co-CEO of Standard Life Aberdeen to Aid International Expansion of Digital Bank

Digital bank Revolut has selected a new Chairman of the Board. Martin Gilbert, an individual who has been advising Revolut co-founder and CEO Nik Storonsky, will join the bank on January 1st as non-Executive Chair. Gilbert is the former co-Chief Executive of Standard Life Aberdeen,… Read More

Financial Giant Standard Chartered Joins Enterprise Ethereum Alliance (EEA)

Banking giant Standard Chartered has reportedly joined the Enterprise Ethereum Alliance (EEA), a global standards organization that outlines the specifications for developing large-scale, interoperable blockchain platforms. The EEA is planning to conduct further research and development (R&D) into the latest trends involving distributed ledger technology… Read More

Report: P2P Lender Zopa Nears Launch of Digital Bank Offshoot in the United Kingdom

Zopa, a peer-to-peer (P2P) money lending platform that allows borrowers and lenders to deal directly with each other (cutting out the banks who serve as intermediaries), is nearing the launch of its new digital bank offshoot in the United Kingdom. The company will conduct a… Read More

The Marketplace Bank: Is LendingClub the Future of Banking?

Earlier this week, leading marketplace lending platform LendingClub (NYSE:LC) announced Q3 financial results that beat on both the top and bottom line. Importantly, LendingClub reported its first profitable quarter in years – a longtime goal of the Fintech. LendingClub went public in December 2014 during… Read More

DayTek Capital Plans Launch of “Product Disruptive” Digital Bank in Australia: Infinity

DayTek Capital says it expects to launch a new digital bank “Infinity” in Australia by mid-2020. The company describes the forthcomin bank as “product disruptive,” without providing too many details. Additionally, DayTek reports the Australian government is assisting with the Fintech getting established as Trade… Read More

Tandem Bank Announces Hong Kong Expansion

Tandem Bank is expanding into Hong Kong. The UK based challenger bank announced in a release that Tandem is working closely with Convoy Global Holdings on the launch. Tandem Bank expects to officially open up operations before the end of 2019. Convoy Global Holdings is… Read More

UK-based Fintech Thought Machine Launches Customizable Smart Contracts for Repayments

London-based Thought Machine, a Fintech firm that aims to address the banking sector’s dependence on legacy IT infrastructure, revealed on November 6 that it’s launching “Vault Rare.”  Vault Rare is a new product that will be integrated on top of Thought Machine’s cloud-native banking platform,… Read More

Banco Santander Acquires Controlling Stake in London-based Fintech Ebury for £350 Million

Madrid-based Banco Santander (Santander Group), a multinational commercial bank and financial services company, will be acquiring a 50.1% stake in Ebury for £350 million (appr. $450.9 million). Ebury is a London-based Fintech firm that offers corporate banking services to small and medium-sized enterprises (SMEs) that… Read More

Ron Suber Shares Perspective on Fintech: “Creating a successful digital bank is like golf and bridge – harder than it looks”

Ron Suber is one of the better-known names in the Fintech sector. Originally, Suber’s role as the President of the marketplace lending platform Prosper Marketplace brought Suber’s name to prominence as the Fintech emerged as an early leader in the US online lending market. Since… Read More

Subaio Launches New Subscription Management Service at Several Nordic Banks

Subaio has launched its subscription management service at several Nordic banks, including Bulder Bank, a new challenger bank. The Subaio product provides users an overview of their subscriptions and the recurring payment schedules. The solution allows users to make changes to their subscriptions or cancel… Read More

Australia’s Westpac Banking Corporation Is Planning to Launch a New Digital Banking Platform

Sydney-based Westpac, one of Australia’s first banks and first companies, is reportedly planning to introduce a new digital banking platform in order to attract younger clients that may otherwise prefer opening accounts at neo banks. Westpac’s decision to launch a new digital brand was announced… Read More

Spain’s Neobank Rebellion Becomes First Challenger in the Country to Receive Banking License and Offer IBANs

Spanish neobank Rebellion has reportedly become the first challenger in the nation to acquire a banking license and provide International Bank Account Number (IBANs), according to a report from La Vanguardia.  The Fintech company is planning to become a neobank that “best speaks the language… Read More

California Will Not Act Against Banks Providing Services to Cannabis Companies but Risk Remains

Earlier this month, the California Department of Business Oversight issued Cannabis Banking Guidance regarding state regulation. California is one of a growing number of states that have legalized Cannabis consumption. While California, and multiple US states, have legalized Cannabis usage, it still is illegal at… Read More

The Fed Cuts Rates by 25 Basis Points, So Does Robinhood

This afternoon, the US Federal Reserve cut its benchmark interest rate by 25 basis points. The Federal Open Market Committee decided to lower the target range for the federal funds rate to 1-1/2 to 1-3/4 percent due to muted inflation and the “implications of global… Read More

Digital Bank: Starling Bank Now Offers Euro Debit Card So Customers May Spend in Euros or Pounds

Starling Bank, a digital challenger bank, is now offering a debit card that allows customers to spend directly in Pounds or Euros (ie no standard forex fee). According to a release, the dual currency card feature goes live on the same day as Starling launches… Read More

Revolut Ties Into QuickBooks in Open Banking Move

Digital bank Revolut has utilized Open Banking APIs for the first time with a tie-in to Intuit QuickBooks, according to a note from Revolut. This will be the first time that Revolut has collaborated with a third-party provider to use the advanced functionality of UK… Read More

Canadian Credit Union Coast Capital Savings to Use nCino’s Bank Operating System to Digitize Lending

Canadian credit union Coast Capital Savings is partnering with North Carolina firm nCino to “optimize” its lending operations using nCino’s cloud-based Bank Operating System platform. The system will be applied as a, “solution for online Retail and Small Business loan applications. The relevant press release… Read More

French Home Finance and Savings Firm 570easi to Launch Challenger Bank, SOeasi

570easi, a French home finance and savings solutions company, has introduced its own challenger bank, called SOeasi, in order to establish the world’s first Islamic ethics-focused neobank. The challenger bank aims to leverage 570easi’s existing customer base as a foundation to help grow its business…. Read More

California-based Fintech BlueVine Introduces New Banking Service, “BlueVine Business Banking”

California-based BlueVine, a Fintech firm that provides small and medium-sized businesses (SMBs) access to “fast funding” and up to $5 million in loans via an advanced, online platform, is introducing its own banking service, called “BlueVine Business Banking.” Like all other US-based Fintech banks, it… Read More

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