Tagged: banking

May 17, 2024 @ 6:46 pm By Omar Faridi  |  

Emirates NBD, which is one of the banking groups in the MENA and Turkey region, has partnered with Pine Labs, a merchant commerce omnichannel platform, to ensure that companies across the region have access to the latest, and best, payment solutions. As part of its… Read More

May 16, 2024 @ 10:38 pm By Omar Faridi  |  

Chime, provider of a banking app, is announcing MyPay, a new offering that will aim to transform how everyday people access their pay in America. MyPay, Chime’s innovation, lets eligible members “access up to $500 of their pay, including government benefits, before payday with no… Read More

May 13, 2024 @ 10:08 am By Omar Faridi  |  

Experian announced the launch of Cashflow Attributes, a solution to help expand fair and affordable access to credit, particularly for thin-file and credit invisible consumers. With over 900 income, cashflow and affordability attributes, Experian’s cashflow insights are available now and “allow lenders to seamlessly integrate… Read More

May 13, 2024 @ 8:41 am By Omar Faridi  |  

Driven by the prospect of higher interest rates, lower fees, and around-the-clock access, new customers flocked to digital banks during the past year. This, according to research and key findings shared in a new banking sector report. For the most part, the direct banking institutions… Read More

May 11, 2024 @ 5:22 pm By Omar Faridi  |  

Validata announces the extension of their long-standing global, technology partnership agreement with Temenos and has extended its integration with Temenos core banking to provide banks and Electronic Money Institutions (EMIs) with “a cost-effective solution for Cash and Nostro reconciliation including payments investigations and case management,… Read More

May 10, 2024 @ 2:31 pm By Omar Faridi  |  

Kaspersky has released its annual Financial Threats Report for 2023, offering a detailed analysis of the evolving financial cyber threat landscape. The report reveals significant “increases in mobile banking malware and cryptocurrency-related phishing, signaling growing threats to digital financial assets.” 2023 witnessed a substantial rise… Read More

May 10, 2024 @ 8:54 am By Omar Faridi  |  

Nubank (NYSE: NU) announced that it has surpassed 100 million customers in Brazil, Mexico, and Colombia, making it the first digital banking platform to reach this milestone outside of Asia. The achievement reportedly comes on “the heels of record 2023 financial results, with over US$1… Read More

May 8, 2024 @ 3:57 pm By Omar Faridi  |  

Research from RedCompass Labs, a firm focused on payments modernization, has revealed that US banks are failing to meet demand for instant payments. The report, “Time to leave legacy behind? Instant payments in the US”,  “surveyed 300 senior payment professionals in US banks to get… Read More

May 8, 2024 @ 9:25 am By Omar Faridi  |  

Emirates NBD, a banking group in the MENA (and Türkiye) region, has announced Chainalysis as a key council member of the Digital Asset Lab. Chainalysis, the blockchain data platform, will “join professional services firm PwC, digital asset transfer and direct custody technology platform Fireblocks, and… Read More

May 3, 2024 @ 7:02 pm By Omar Faridi  |  

A delegation comprising executives from 11 Azerbaijani banks, under the leadership of the Governor of the Central Bank of Azerbaijan, embarked on a mission to the United States. Organized by the U.S.-Azerbaijan Chamber of Commerce (USACC), a Washington, D.C.-based trade association, in partnership with Azerbaijan… Read More

May 3, 2024 @ 10:40 am By Omar Faridi  |  

Over the last decade, Fintech has undergone a significant transformation and period of growth, marked by the digitization and democratization of access to financial services to more Americans. To gain insights into what the future holds, we spoke with Ben Borodach, the co-founder and CEO… Read More

May 3, 2024 @ 8:31 am By Omar Faridi  |  

Zopa Bank, which began operations as a P2P lending platform but has evolved into a digital bank, has reportedly surpassed £4 billion in customer deposits. Zopa Bank says it achieved this milestone in under 4 years since acquiring its banking license. It has helped that… Read More

May 1, 2024 @ 10:15 am By JD Alois  |  

Anchorage Digital Bank will be providing a custody solution for Arca Labs regarding digital securities or tokenized T-Bills. Arca launched a digitized US Treasury fund and is the first firm to be registered under the 40 Act to issue tokenized T-bills, which are called “ArCoin.”… Read More

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