Tagged: banking

August 30, 2024 @ 6:01 pm By Omar Faridi  |  

Comun, a neobank that provides modern banking solutions to immigrants1 in the U.S., announced it has raised $21.5M in its Series A funding round led by Redpoint Ventures with participation from ANIMO Ventures, Costanoa Ventures, FJ Labs, RTP Global, and South Park Commons. The company,… Read More

August 27, 2024 @ 1:02 pm By JD Alois  |  

Sygnum Bank is a digital asset-focused financial institution that is based and regulated in Switzerland, supervised by the Swiss Market Financial Authority (FINMA). The company also holds a CMS [Capital Market Services license issued by the Monetary Authority of Singapore (MAS). Both of these jurisdictions… Read More

August 27, 2024 @ 8:35 am By Omar Faridi  |  

Revolut has reportedly signed a global Visa Direct agreement for cross-border business transfers. Revolut has joined forces with Visa in order provide business clients with instant card transfers for cross-border transactions. Digital bank Revolut officially announced that it entered an agreement with Visa Direct agreement… Read More

August 26, 2024 @ 10:24 pm By Omar Faridi  |  

Backbase, the global enabler of engagement banking, has successfully delivered a new digital banking platform for MyState Bank to support future growth. The platform represents a significant leap forward in “delivering seamless, customer-centric digital experiences to MyState customers.” MyState has partnered with Backbase “to modernise its… Read More

August 25, 2024 @ 7:53 pm By Michael Wong  |  

A significant majority of consumers, 78%, in India now prefer to conduct their banking digitally through mobile apps or websites, according to a recent report by Alkami Technology. This shift underscores the broader move towards cashless transactions and contactless payments, trends that have accelerated significantly… Read More

August 24, 2024 @ 8:44 am By Omar Faridi  |  

Sygnum, a global digital asset banking group with ~$4.5 billion in client assets, has issued the industry-first syndicated loan backed by Bitcoin (BTC) to premier crypto lender Ledn, which will be used to fund the growth of Ledn’s retail lending operations. Syndicated among Sygnum’s institutional… Read More

August 22, 2024 @ 4:15 pm By JD Alois  |  

Fintilect, a banking service provider serving both UK and US banks and other financial services firms, says it is now offering a new generation of “hyper-personalized banking solutions. The company claims that its platform will enable its clients to recognize and communicate with their individual… Read More

August 20, 2024 @ 9:22 am By JD Alois  |  

Upvest and Deutsche Bank have announced a partnership. Under the partnership, Upvest will gain access to the global bank for multiple services. Upvest is a Fintechs in Europe that provides B2B clients with a range of investment opportunities in the areas of principal broking business,… Read More

August 19, 2024 @ 10:27 pm By Omar Faridi  |  

Strategy consultants at OC&C have shared a report unveiling a significant opportunity for Embedded Finance for scale SaaS ERP (Enterprise Resource Planning) and payroll providers. Embedded Finance refers to the “integration of financial products into non-financial customer journeys.” The value chain for embedded finance typically… Read More

August 19, 2024 @ 12:06 pm By Omar Faridi  |  

Italian Banca Sella now provides Bitcoin (BTC) trading. Established back in 1886, Banca Sella is one of the most well-known banking institutions in Italy. Its mobile banking platform, known as Hype, now also includes a Bitcoin trading service as it operates with more than 1.2… Read More

August 18, 2024 @ 4:52 pm By Tony Zerucha  |  

This week, Q2 Holdings, a provider of digital transformation solutions for financial services, announced the release of a new Harris Poll consumer report, The Personal Bank: Delivering personalized experiences across generations. The report reveals that consumers across generations have similar perspectives, behaviors, and preferences about banking…. Read More

August 16, 2024 @ 1:11 pm By Omar Faridi  |  

Digital bank Revolut has reportedly secured a $45 billion valuation in a share sale by company workers, beating an overall fintech industry downturn and solidifying its position as Europe’s most valuable startup venture. This, as the UK government aims to convince it to pursue a… Read More

August 15, 2024 @ 9:59 am By JD Alois  |  

Core banking provider 10X Banking and LTIindree, a consulting firm, have announced a global partnership. According to a statement issued by the two firms, the partnership aims to fuel the utilization of the core banking product. LTIMindtree has set up a new global practice of… Read More

August 14, 2024 @ 8:15 am By Omar Faridi  |  

LendingClub Corporation (NYSE: LC), the parent company of LendingClub Bank, America’s leading digital marketplace bank, has released new data revealing a surprising lack of consumer awareness “regarding the true cost of their credit card debt in today’s high interest rate environment.” LendingClub conducted a national… Read More

August 14, 2024 @ 8:09 am By Omar Faridi  |  

Pibank, the direct banking solution of Intercredit Bank, has formally launched its U.S. presence with a 5.50% APY high-yield savings account. The direct bank, which already has a robust presence “in Spain and Colombia, will now be offering its high-yield, customer-centric savings products to U.S…. Read More

August 13, 2024 @ 6:11 am By Omar Faridi  |  

KeyCorp (NYSE: KEY) announced it has reached an agreement under which The Bank of Nova Scotia (NYSE: BNS) will make a strategic minority investment in KeyCorp of approximately $2.8 billion, representing “approximately 14.9% pro forma common stock ownership, for a fixed price of $17.17 per… Read More

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