Tagged: banking

August 12, 2024 @ 3:27 pm By Omar Faridi  |  

UK’s digital bank Monzo announces that it surpassed 10 million personal customers in the UK as it continues to make money work for everyone. The milestone follows Monzo’s first full year of profitability, a funding round and various product announcements as the firm moves forward… Read More

August 10, 2024 @ 12:54 pm By Michael Wong  |  

The Bangko Sentral ng Pilipinas (BSP), the central bank of the Philippines, has announced the lifting of its moratorium on the issuance of new digital banking licenses, effective January 1, 2025. The decision, approved by the Monetary Board, will allow up to ten digital banks… Read More

August 9, 2024 @ 9:18 am By JD Alois  |  

Clear Bank has earned a Credit Institution Licence from the European Central Bank under the supervision of De Nederlandsche Bank. The license allows Clear Bank to operate across Europe. ClearBank is authorized in the UK by the Prudential Regulation Authority (PRA) and regulated by the Financial… Read More

August 9, 2024 @ 8:47 am By Omar Faridi  |  

CaixaBank has mobilized a total of €67.16 billion in sustainable finance according to data at the end of June 2024. This figure means having surpassed “the objective of the bank’s Sustainable Banking Plan, included in the 2022-2024 Strategic Plan, six months before the end of… Read More

August 7, 2024 @ 9:12 pm By Omar Faridi  |  

Australian digital bank, ubank, has introduced passkeys to improve authentication for customers. Ubank joins a growing number of international online services and payment providers, “along with Australian organizations and government agencies, using passkeys as their login method.” The change in authentication processes comes as Australians lost… Read More

August 7, 2024 @ 8:20 am By Omar Faridi  |  

Nubank (NYSE: NU), which claims to be the largest digital banking platform outside of Asia, announces the appointment of Tyler Horn as Chief Credit Officer (CCO), effective August 2024. With extensive experience in credit risk management within the financial services industry, Tyler will be “responsible… Read More

August 7, 2024 @ 8:19 am By Omar Faridi  |  

Banking Circle S.A, has received the globally recognized ISO/IEC 27001:2022 certification for information security management systems (ISMS). Underlining the sustained commitment it places “on information security, this certification gives Banking Circle clients continued confidence that it puts legal, regulatory and contractual obligations at the centre… Read More

August 7, 2024 @ 8:17 am By Omar Faridi  |  

Christian Catalini, Co-Founder & Chief Strategy Officer at Lightspark (which enables Open payments for the Internet; Enterprise-grade, fast, secure payments on Lightning) and the Founder at MIT Cryptoeconomics Lab, explains that stablecoins, a novel form of interoperable and programmable money, have the potential “to rewire… Read More

August 6, 2024 @ 10:50 am By JD Alois  |  

The Hong Kong Monetary Authority (HKMA) has issued an update on the development of digital banking or “virtual banks” (VB) in Hong Kong. The HKMA states that the establishment of regulated digital banking has achieved its three stated goals: promoting Fintech and innovation, creating a… Read More

August 4, 2024 @ 10:56 pm By Omar Faridi  |  

nCino, Inc. (NASDAQ: NCNO), a firm focused on cloud banking for the global financial services industry, announced that Shawbrook has chosen nCino to help automate its loan origination processes, while expanding portfolio management capabilities through nCino’s cloud-based platform. With nCino’s intelligent solutions, Shawbrook’s team will… Read More

August 3, 2024 @ 5:20 pm By Tony Zerucha  |  

Florida is the top state for mobile banking, a new study from software company Vention finds. The study utilized Google Keyword Planner to analyze the nationwide Google search volume behind various keywords related to mobile banking—including “mobile banking,” “mobile banking app,” and “best mobile banking… Read More

July 30, 2024 @ 5:20 pm By JD Alois  |  

Digital bank LendingClub (NYSE: LC) has released Q2 earnings which are being described as an “inflection point” for the Fintech. Net income increased to $14.9 million from $12.3 million in Q1 2024. LendingClub CEO Scott Sanborn, LendingClub CEO said their product innovations enabled them to… Read More

July 29, 2024 @ 11:29 pm By Michael Wong  |  

The Federal Reserve, Federal Deposit Insurance Corporation (FDIC), and Office of the Comptroller of the Currency (OCC) have issued a joint statement highlighting potential risks associated with banks’ partnerships with third parties, particularly Fintech firms. The regulators aim to underscore the importance of effective risk… Read More

July 27, 2024 @ 1:00 pm By Michael Wong  |  

The central bank of the Philippines will resume accepting applications for digital banking licenses after a three-year moratorium, signaling a significant expansion in the burgeoning sector. Bangko Sentral ng Pilipinas (BSP) Governor Eli Remolona Jr. said the number of available slots for new entrants will… Read More

July 25, 2024 @ 12:49 pm By Omar Faridi  |  

Sygnum, a global digital asset banking group with ~$4.5 billion in client assets, reported that it has reached profitability following a strong H1 2024, with key metrics seeing substantial growth year-to-date (YTD). Business performance is enabled by “expanded trading features and platform, strategic partnerships with… Read More

July 25, 2024 @ 9:36 am By Omar Faridi  |  

Revolut has received a UK banking license. The global Fintech now enters the PRA’s ‘mobilization’ stage, “having received authorization with restrictions, designed for new banks to complete the build out of their banking operations.” During this mobilization stage nothing changes for Revolut UK customers. Revolut,… Read More

July 24, 2024 @ 11:00 am By Omar Faridi  |  

  We recently connected with Kelvin Tan, CEO of audax, a corporate venture backed by Standard Chartered Bank. Before transitioning to a full-time career as an entrepreneur, Kelvin held multiple roles at Standard Chartered Bank — from Transaction Banking to Retail Products and Payments to… Read More

July 24, 2024 @ 9:08 am By Omar Faridi  |  

UK challenger bank Monzo is diversifying its product suite with a new pension consolidation solution that tracks old pensions and brings them into one fund. The launch of the product comes after research from Monzo reveals that more than half of UK adults (51%) don’t… Read More

July 24, 2024 @ 9:04 am By Omar Faridi  |  

D•One, the open banking unit of The ClearScore Group, has announced a partnership with Zopa Bank. The latest integration will see Zopa Bank add D•One to its partners that offer open banking connectivity as well as transaction categorization intelligence. D•One will be focusing on Zopa’s… Read More

July 21, 2024 @ 6:54 pm By Omar Faridi  |  

Matera, a banking software provider, announced a $100 million investment from Warburg Pincus, a global growth investor. The investment will be used to fund the company’s “expansion into the North American market and further expand product development.” Founded in Brazil, Matera is a technology “provider… Read More