Tagged: banking

May 1, 2024 @ 8:04 am By Omar Faridi  |  

OakNorth, which says it is the digital bank for entrepreneurs, by entrepreneurs, has completed a £1.3m loan to Caissa Holdings, in support of its first commercial property acquisition in Scotland. The time-critical deal was completed within a month, “highlighting OakNorth’s execution and delivery capability.” Caissa… Read More

May 1, 2024 @ 7:54 am By Omar Faridi  |  

Monument Bank is pleased to announce a significant milestone in their journey of growth. After reaching £1 billion in deposits on 3rd January this year, they have now reportedly “crossed the £2 billion mark in client deposits this morning, doubling their balances in less than… Read More

April 30, 2024 @ 8:16 pm By JD Alois  |  

LendingClub (NYSE:LC) reported Q1 earnings today, surpassing analyst expectations. According to the digital bank, net revenue during the quarter was $180.7 million, compared to $185.6 million in the prior quarter. While this was higher than Q4, it was far below Q1 of 2023 when the… Read More

April 30, 2024 @ 2:04 pm By JD Alois  |  

Blend Labs (NYSE:BLND), a cloud banking platform, has raised $150 million in financing from PE firm Haveli. As part of the deal, Brian Sheth, Haveli’s CIO, will join Blend’s board of directors. The funding comes in a Series A convertible with a 0% coupon. The… Read More

April 29, 2024 @ 2:45 pm By Omar Faridi  |  

Mid-sized banks have a big opportunity to maximize revenue potential and improve client experiences by transitioning to embedded banking, and to realize the full benefits of this transition, they need to leverage virtual ledgers, a report by tech payments company Finzly and Datos found. The… Read More

April 28, 2024 @ 12:06 pm By Omar Faridi  |  

More than 220 central bankers and banking supervisors representing over 90 different jurisdictions met on 24–25 April, 2024 in Basel for the 23rd International Conference of Banking Supervisors (ICBS). The ICBS included a program to mark the 50th year of the Basel Committee on Banking… Read More

April 28, 2024 @ 9:57 am By Omar Faridi  |  

Digital bank Monzo is reportedly expanding its fundraising to £500 million as part of a round which includes capital from Hedosophia. This, according to an update from Sky News. Sources revealed on Sunday that Monzo might confirm as soon as this week that Hedosophia and… Read More

April 27, 2024 @ 6:03 pm By Omar Faridi  |  

Nubank (NYSE: NU), which claims to be one of the largest digital financial services platforms, announces  the release of Nubank+, which is described as “an evolution of the Nu experience.” From now on, those who join the experience will reportedly “have even more benefits like cashback,… Read More

April 25, 2024 @ 10:28 pm By Michael Wong  |  

The Philippine digital banking sector has attracted more than $700 million in investments from both global and local sources since 2021, demonstrating robust investor confidence and a rapidly growing market, according to a statement released by the Digital Bank Association of the Philippines (DiBA PH)…. Read More

April 25, 2024 @ 9:24 am By JD Alois  |  

Anchorage Digital, a federally regulated bank, has announced a new crypto settlement service called Atlas or Anchorage Digital Trusted Liquidity and Settlement. Atlas will be able to settle both US dollars and digital assets and includes OTC settlement, OTC margin/collateral management, and off-exchange settlement.  Anchorage… Read More

April 25, 2024 @ 9:01 am By Omar Faridi  |  

Revolut, the global Fintech with over 8 million UK customers and 40 million globally has today announced it expects to boost its global headcount by 40% in 2024. The announcement comes as Revolut reportedly “reaches 10,000 employees globally and continues to grow its workforce, all… Read More

April 25, 2024 @ 8:22 am By Omar Faridi  |  

Allica Bank has revealed it has lent over £500 million in asset finance. Having launched its asset finance arm in January 2021, Allica says “over the past 12 months it has lent almost double the amount it lent in the previous two years combined.” This comes… Read More

April 22, 2024 @ 8:59 pm By Omar Faridi  |  

Grasshopper, the digital bank built for the business and innovation economy, announced the launch of a digital application for borrowers to apply directly for Small Business Administration (SBA) loans. Small business owners can now get pre-qualified for “an SBA 7(a) loan in less than 10… Read More

April 22, 2024 @ 12:22 pm By Omar Faridi  |  

Cross River Bank, a provider of technology infrastructure and embedded financial solutions, is proud to present its Annual Social Responsibility Impact Report, showcasing its community impact, giving and philanthropic activities and collective commitment to fostering the greater good. Through strategic partnerships, community collaborations and dedicated… Read More

April 22, 2024 @ 8:20 am By Omar Faridi  |  

UK’s Allica Bank is pleased to share that their firm achieved their first full year of profitability in 2023. Just three years since Allica Bank opened their doors to lending, it makes them one of the fastest fintechs in the UK to do so, the… Read More

April 20, 2024 @ 7:51 am By Omar Faridi  |  

Analysis of pseudonymized and aggregated data from 3.6 million Nubank (NYSE: NU) customers illustrates drivers and barriers along the journey to long-term financial health. Recently, Nubank and Mastercard (NYSE: MA) released findings “from a study measuring the financial inclusion impact on individuals, including some who… Read More

April 19, 2024 @ 9:55 am By Omar Faridi  |  

Mercury, the fintech that is said to be used “over 100,000” startups for banking, announced its expansion into consumer banking with the launch of Mercury Personal, which is described as a powerful personal banking experience designed with the best of today’s technology to help builders… Read More

April 17, 2024 @ 11:00 am By Omar Faridi  |  

Mambu, a cloud banking platform, and Leeds Building Society, the fifth largest building society in the UK, have entered a strategic partnership to help Leeds modernize its core banking system. By using Mambu, underpinned by Amazon Web Services (AWS), Leeds Building Society will have “an… Read More

April 16, 2024 @ 12:49 pm By JD Alois  |  

Lisbon, Portgul-based Bison Bank says it has seen revenues increase by 240% in 2023 when compared to the year prior. Bison Bank is focused on providing a range of Wealth Management, Custody, and Investment Banking services to individual and institutional clients. Affiliated firm, Bison Digital… Read More

April 16, 2024 @ 7:03 am By Omar Faridi  |  

Once a top UK peer-to-peer lender and today a digital bank, Zopa Bank has announced its first full year of profitability. Zopa announced a pre-tax profit of £15.8 million for the financial year ending 31 December 2023, up from a pre-tax loss of £26 million for… Read More