Tagged: banking

Revolut Will Pursue Bank Charter in California

The United States has one of the most fragmented regulatory environments for financial services in the world. Frequently, a financial service provider will need to adhere to both state and federal rules along with an alphabet soup list of regulators. While the current leadership of… Read More

Accenture to Invest $3 Billion in Fintech Initiatives that Will Help Companies become Cloud First Businesses

David Jimenez Maireles, Customer Experience Officer at TNEX, a Vietnam based digital bank, claims that despite the skeptics, banks have been “no laggard when it comes to cloud adoption.” Banks have been migrating incrementally, and today “the average bank has 58% of its workloads in… Read More

Goldman Sachs Crushes Earnings, Consumer Banking and Wealth Management Book Record Net Revenues [u]

Goldman Sachs (NYSE:GS) blew the doors of its earnings report this morning as it announced net revenues of $10.78 billion and a record quarterly diluted earnings per share (EPS) of $9.68 and annualized ROE of 17.5%, the highest quarterly ROE since 2010. Wall Street had… Read More

Neobanks in Australia including 86 400, Xinja, Volt Forced to Further Reduce Interest Rates on Savings Accounts

Neobanks have been finding it quite challenging to maintain their competitive deposit rates. During the past few weeks, three Australian neobanks have reduced their rates and two of them have placed limits on the balances on which they’ll pay higher interest. Australia based digital bank… Read More

Weihai City Commercial Bank Becomes Only City Commercial Bank Listed on Hong Kong Stock Exchange in 2020, with Assistance from AMTD

The AMTD Group, a financial services company rooted in Hong Kong and based in the Greater Bay Area with a global focus, has revealed that the Weihai City Commercial Bank Co., Ltd. (based in Weihai, Shandong Province – marine economy demonstration zones of China) was… Read More

Egyptian Central Bank Provides New Guidelines for Opening Bank Accounts for Individuals and SMEs, Aimed at Enabling Financial Inclusion

The Central Bank of Egypt (CBE) has reportedly issued updated guidelines and instructions that will allow local residents and small businesses to open certain types of bank accounts under various terms and conditions. The CBE sent a letter to local banks in which it noted… Read More

UK Banking App Yayzy to Close Seedrs Campaign With More Than £625,000 in Funding Secured

  Yayzy, a UK-based sustainable banking app, is set to close its equity crowdfunding campaign on Seedrs with more than £625,000 in funding secured. The round launched last month, originally seeking £200,000, and has attracted 865 Seedrs investors. As previously reported, the Yayzy team has… Read More

Monument Bank, a Fintech Targeting the Affluent, Receives Regulatory Approval in the UK

Monument Bank has received regulatory approval this week to operate under a restricted license receiving a green light from the Financial Conduct Authority and Prudential Regulation Authority. Monument Bank seeks to cater to the affluent providing a service that is just a click away as… Read More

B-North Targets Bank License, Raises Funding on Growth Capital Ventures

B-North, a Fintech that is looking to acquire a bank license, is raising capital on Growth Capital Ventures (GCV). According to the offering page, B-North has raised over £1.23 million – topping its hurdle of £500,000. Craig Peterson, co-founder and chief operating officer of GCV,… Read More

Revolut Adds Feature that Tracks Subscriptions, Re-occuring Payments – Block Them When You Want

Digital bank Revolut has launched a new feature that enables its users to track subscriptions and re-occurring payments to more easily manage these expenditures.  The “Subscriptions” feature organizes these charges in a single location so users can see how much they are spending and on… Read More

Starling Bank Adds Desktop Version of Banking Site

Digital bank Starling has announced the launch of online banking for its personal and joint bank account customers. The new online portal will allow Starling Bank’s customers to manage their money from their desktop or laptop as well as their smartphones. Previously, Starling had been… Read More

Update: Yayzy’s Equity Crowdfunding Campaign Nears £550,000 During the Final Days on Seedrs

Yayzy, a UK-based sustainable banking app, is now nearing £550,000 through its equity crowdfunding campaign on Seedrs. The funding round was launched last month, originally seeking £200,000, and has attracted more than 700 Seedrs investors. Founded in 2019, the Yayzy team has created technology that… Read More

Santander Launches New Banking Account “Santander One”

Santander Bank announced on Friday the launch of Santander One, which is a new simple banking account with service plans through subscription. The banking group revealed it customized the account for individuals and companies with free essential services for loyal customers and offers the possibility… Read More

Update: Ziglu’s Seedrs Round Now Nearing £2.4 Million Raised

Less than two weeks after launching its equity crowdfunding campaign on Seedrs, FCA authorized e-Money Institution Ziglu has successfully secured nearly £2.4 million from more than 800 Seedrs investors. Founded in 2018 by former Starling Bank CTO Mark Hipperson, Ziglu states it has built a… Read More

Digital Bank Bnext to Partner with Rapyd for Latin American Expansion

Bnext, a Spain based neo-bank that has raised over €22 million in funding, has partnered with Rapyd, a Fintech as a Service company, to expand services across Latin America. According to a release, Bnext customers will be able to make deposits into their accounts at… Read More

Reserve Bank of India Releases New Cybersecurity Report which Outlines the Technology Vision for Local Banks

The Reserve Bank of India (RBI) has released a new report, titled “Technology Vision for Cybersecurity for Urban Co-operative Banks – 2020-2023.” The RBI notes that the document makes recommendations or suggestions on how to improve the nation’s cybersecurity infrastructure of its urban co-operative banking… Read More

Transferwise is Saving US Customers Lots of Money Compared to Other Fintechs (and Banks)

Transferwise, a UK based Fintech that has gone global, has distributed a note promoting the savings it can generate for US customers. Transferwise is a Fintech that allows you to quickly and inexpensively transfer money anywhere – minus hidden fees and silly exchange rates. The… Read More

Transferwise Books 4th Year of Profitability, Serves Over 8 Million Individuals, Processing £67 Billion in Fiscal Year

Transferwise, a Fintech unicorn and fast-growing stealth bank, has published its annual report for the fiscal year ending March 2020. According to the document, Transferwise’s annual profit more than doubled to £20.4 million during the year – the fourth year in a row that the… Read More

MetaBank Announces New Collaborations With Finix & TabaPay

MetaBank, N.A. announced on Tuesday the expansion of its payments platform to include processors Finix and TabaPay. According to Metabank, Finix builds payments infrastructure for vertically-focused software providers and fintech companies. With Finix, businesses may own and monetize entire payments experience without having to build… Read More

Standard Chartered Launches Virtual Bank “Mox” in Hong Kong

  UK banking group Standard Chartered Bank announced on Tuesday it has officially launched its virtual bank “Mox” in Hong Kong. According to Standard Chartered, Mox was created in partnership with PCCW, HKT, and Trip.com, which provides its suite of retail banking services entirely digitally… Read More

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