Tagged: banking

December 5, 2024 @ 10:30 am By Omar Faridi  |  

  Trent Sorbe, Chief Payments Officer at First International Bank & Trust (FIBT), has shared key insights with CI. Kotapay, a division of First International Bank & Trust (FIBT), has launched Kavinu, a direct-to-bank BaaS platform that eliminates the “instability of middleware-reliant models.” By re-centering… Read More

December 3, 2024 @ 10:46 pm By Omar Faridi  |  

Lumin Digital, a cloud-native digital banking provider, announced it has raised over $160M in growth equity financing, led by Light Street Capital, NewView Capital, and Partners Group, acting “on behalf of its clients.” Lumin Digital plans to leverage the funding to accelerate its growth initiatives,… Read More

November 30, 2024 @ 1:59 pm By Omar Faridi  |  

European Fintech firm Solaris in reportedly seeking additional funding to maintain its operations. The German banking-as-a-Service (BaaS) platform is said to looking for an emergency capital injection of £100 million. Solaris reportedly aims to put its business up for sale should it fail to acquire… Read More

November 28, 2024 @ 1:40 pm By Omar Faridi  |  

Commonwealth Bank of Australia (CBA) has outlined how artificial intelligence is helping to transform the experiences it delivers to its 10 million-plus customers. At a key update in Sydney, the CBA reportedly showcased the role technology and AI are playing in delivering a number of… Read More

November 26, 2024 @ 11:24 pm By Omar Faridi  |  

Nu Colombia, a subsidiary of Nu Holdings, confirms that the Colombian Financial Superintendence (SFC) has formally approved its request to consolidate its account and credit operations under the entity Nu. As stated in the update, this latest milestone, which aims to reinforces its long-term vision… Read More

November 26, 2024 @ 11:21 pm By Omar Faridi  |  

Thousands of Americans have reportedly seen their savings vanish following the Synapse fintech crisis. It’s now being reported that many Americans will most likely receive very little or nothing from their savings accounts that had been locked during the major collapse of fintech platform Synapse…. Read More

November 26, 2024 @ 8:55 am By Omar Faridi  |  

Temenos (SIX: TEMN) announced it is bringing on-premises Temenos generative AI — built with the NVIDIA AI platform — to banks, allowing them to transform data into real-time insights while retaining control over their information. Banks are now able to deliver customer-centered experiences by processing… Read More

November 23, 2024 @ 5:41 pm By Omar Faridi  |  

Revolut has revealed its 2025 vision, with AI assistant, mortgages, and ATMs reportedly on the horizon. Revolut co-founders Nik Storonsky and Vlad Yatsenko took to the stage at the company’s The Revolutionaries event in London in order to mar 50 million Revolut customers and share… Read More

November 20, 2024 @ 9:34 pm By Omar Faridi  |  

N26 Group has reported its first quarterly profit as growth in customer numbers accelerates “strongly.” Since the lift of its growth restrictions by BaFin in June of this year, N26 has claims that it has accelerated its growth momentum. The European digital bank reports organic… Read More

November 18, 2024 @ 9:51 am By JD Alois  |  

Neo Financial, a Canada-based neobank, has raised $258 million in Series D funding. The new money included around $79 million in equity and $179 million in debt capital. Neo Financial offers various digital banking services in partnership with Peoples Bank of Canada. As a neobank,… Read More

November 16, 2024 @ 6:07 pm By Omar Faridi  |  

Nubank (NYSE: NU) clients who hold crypto-assets will be able to trade Bitcoin (BTC), Ethereum (ETH), Solana (SOL), or Uniswap (UNI) for “digital dollars” USDC as well as vice versa. The feature, integrated with Nubank Cripto, now reportedly simplifies currency transactions via direct exchange. Also… Read More

November 14, 2024 @ 9:56 am By Omar Faridi  |  

SoFi (NASDAQ: SOFI), a digital financial services that helps members borrow, save, spend, invest and protect their money, announced a new robo-advisor platform, expanding on the company’s automated investment offering. SoFi is one of the automated investment platforms to provide access to alternative asset classes alongside… Read More

November 14, 2024 @ 9:11 am By Omar Faridi  |  

OakNorth, the digital bank for entrepreneurs, by entrepreneurs, has provided DSW Capital, a mid-market, challenger professional services licence network and owner of the Dow Schofield Watts brand, with capital to support its acquisition of DR Solicitors, the specialist law firm working with medical professionals (including… Read More

November 13, 2024 @ 8:18 am By Omar Faridi  |  

Nic Carter, Co-founder of Coin Metrics, claims that the FDIC is still – post election – insisting on a 15% depository cap on banking institutions that are serving crypto firms (as he has been told). Nic Carter also described the FDIC as an abominable agency…. Read More

November 12, 2024 @ 8:17 pm By Omar Faridi  |  

Nubank (NYSE: NU) has reached 100 million customers in Brazil, a number that represents 57% of the adult population in the country. In May of this year, Nu had reportedly reached this milestone internationall. According to Livia Chanes, CEO of Nubank in Brazil, this achievement… Read More

November 12, 2024 @ 6:34 am By Omar Faridi  |  

The Juniper Research team has shared key insights on digital-only banking and other Fintech trends encompassing neobanks and the emergence of Fintech innovations offered via digital banking platforms. The digital banking market is an evolving space, with digital banks racing to get banking licenses, create… Read More

November 9, 2024 @ 1:40 pm By Tony Zerucha  |  

More than one-fourth (29%) of bank customers and 22% of credit card customers have experienced fraudulent activity on their accounts in the past 12 months, according to the inaugural J.D. Power U.S. Financial Protection Satisfaction Study. As financial fraud continues to escalate, how financial institutions… Read More

November 6, 2024 @ 12:52 pm By Omar Faridi  |  

Nu México, which claims to be a transparent, clear and human digital finance company, has recently announced the implementation of various features in Cuenta Nu and its credit card product. As noted in a blog post by Nubank (NYSE: NU), these latest features are reportedly… Read More

November 4, 2024 @ 10:50 pm By Omar Faridi  |  

Sygnum, a digital asset banking group, announces the transition of its Yield Core AMC, a product that invests in yield-generating strategies in crypto, including lending, funding arbitrage and liquidity provision, into a Luxembourg Reserved Alternative Investment Fund (RAIF) structure. This evolution broadens the fund’s international… Read More

November 4, 2024 @ 8:24 am By Omar Faridi  |  

The Bank of New York Mellon Corporation (BNY) (NYSE: BK), a global financial services company, announced the expansion of its iFlow product offering, with extensive fixed income and equity data analytics. iFlow provides a vantage point of insights into BNY’s $50 trillion+ in assets under… Read More