Tagged: banking

December 26, 2023 @ 11:42 pm By Omar Faridi  |  

Mox Bank Limited announced that customers can now earn Asia Miles instantly upon placing a Time Deposit “without waiting until maturity.” Mox claims that it is the first and “only” bank in Hong Kong to “offer such a reward, allowing customers to use Asia Miles… Read More

December 26, 2023 @ 11:09 am By Omar Faridi  |  

2023 marked Nubank’s (NYSE:NU) tenth anniversary with further innovation from one of the world’s largest digital financial services platforms. Over the past 12 months, the company has “launched over 45 new solutions to give people more autonomy and security in managing their finances.” With significant… Read More

December 26, 2023 @ 8:40 am By Omar Faridi  |  

Digital bank Revolut has shared some important financial updates. Revolut reveals that its revenue has reportedly “increased to $1.1bn (£923m) in 2022, up 45% from $786m (£638m) in 2021.” Revolut added almost 10m customers last year “with a 71% increase in deposits and 55% increase… Read More

December 26, 2023 @ 8:38 am By Omar Faridi  |  

CSI, a provider of end-to-end financial software and technology, announced today it has acquired St. Louis, Missouri-based software provider Hawthorn River, which offers a modern, single-platform loan origination system (LOS) “purpose-built for community banks.” The transaction reportedly follows “a successful commercial partnership between the two… Read More

December 26, 2023 @ 6:50 am By Omar Faridi  |  

Santander Bank, N.A. (NYSE: SAN)announced that it has closed a transaction with the Federal Deposit Insurance Corporation (FDIC) to participate in a joint venture that consists of a $9 billion portfolio of New York based multifamily real estate assets retained by the FDIC following the… Read More

December 24, 2023 @ 2:02 pm By Michael Wong  |  

Thailand’s Kasikornbank Pcl, the country’s second-largest bank, is developing a digital-asset ecosystem to provide innovative funding routes for companies, according to a Bloomberg report. This move includes the October acquisition of the licensed digital-asset exchange Satang Corp, marking a rare instance of a major lender… Read More

December 24, 2023 @ 9:55 am By Omar Faridi  |  

Banks have vastly evolved over the last 50 years but the underlying global financial system has remained largely the same; obscure and inefficient. The advent of regulated digital assets and programmable money, “along with its adoption by central banks around the world offers a root… Read More

December 21, 2023 @ 2:25 am By Omar Faridi  |  

Digital bank Revolut is reportedly expecting to make $1.9 billion in revenue for 2023, almost twice the $1 billion it made in the last 12 months. This, according to an update from Bloomberg. The Fintech firm’s monthly revenue has averaged around $158 million during H1… Read More

December 19, 2023 @ 11:44 pm By Omar Faridi  |  

Allica Bank – the fintech challenger bank specifically focused on serving established businesses with 10-250 employees – now reportedly has 2,000 business current account customers after launching earlier this year. Compared to the millions of UK microbusinesses, the established SME segment that Allica is dedicated… Read More

December 19, 2023 @ 10:00 pm By Omar Faridi  |  

Atom bank, the UK’s app-based bank, is boosting Durham University’s Women in Technology program with two new scholarships aimed “at prospective female students from low-income backgrounds.” The Women in Technology program was inspired “by globally recognized tech leader Dr Anne-Marie Imafidon MBE, and was founded… Read More

December 19, 2023 @ 4:26 pm By JD Alois  |  

Amsterdam-based digital bank bunq has claimed the title as the first “AI powered bank in Europe.” bunq says it is the second-largest digital bank in Europe. Today, the Fintech announced “Finn” a new GenAI platform that is available to all its customers. The AI powered… Read More

December 19, 2023 @ 3:22 pm By Omar Faridi  |  

Xero, the global small business platform, today announced it is partnering with Flinks, a key player focused on open banking, to give small businesses in Canada and the United States secure access to more than 20 direct bank connections and high quality transaction data. The… Read More

December 18, 2023 @ 3:55 pm By Omar Faridi  |  

Backbase, the global enabler of Engagement Banking, announced St. Louis-based First Bank is live on the Backbase Engagement Banking Platform, powering the bank’s transformation strategy to offer a seamless, digital-first experience to its customers. First Bank chose Backbase for its centralized platform, “enabling the integration… Read More

December 16, 2023 @ 8:41 am By Omar Faridi  |  

Promon, the provider of application shielding technology responsible for recently uncovering FjordPhantom, an emerging cyber threat targeting banks in Southeast Asia, reveals the findings of its research into “the susceptibility of the world’s top banking apps to this sophisticated new strain of malware.” In September… Read More

December 15, 2023 @ 3:20 pm By Omar Faridi  |  

ClearBank announced that it is appointing former Starling Bank and Barclays executive Megan Cooper as Chief Product Officer. Cooper will reportedly “lead ClearBank’s product management team and develop product strategy.” ClearBank, the enabler of real-time clearing and embedded banking for financial institutions, recently confirmed in… Read More

December 15, 2023 @ 3:05 pm By Omar Faridi  |  

The British Business Bank has launched an asset-based lending variant of the Recovery Loan Scheme. The asset-based lending variant aims to “broaden the support available for small businesses in the UK to access finance through the Recovery Loan Scheme, making use of a broad range… Read More

December 15, 2023 @ 3:23 am By Omar Faridi  |  

Fenergo, the provider of digital solutions for Know Your Customer (KYC), Transaction Monitoring and Client Lifecycle Management, announces that Netherlands-based commercial bank NIBC is deploying its software-as-a-solution (SaaS) technology to enhance KYC operations. NIBC – which serves clients internationally with a focus on Europe –… Read More

December 13, 2023 @ 7:11 pm By Omar Faridi  |  

ClearBank is providing LemFi with agency banking services to enhance international payment services for emerging market immigrants in North America and Europe. ClearBank, the enabler of real-time clearing and embedded banking for financial institutions,  announced its partnership with LemFi (formerly known as Lemonade Finance), a… Read More

December 12, 2023 @ 8:01 pm By Omar Faridi  |  

Accenture (NYSE: ACN) has signed a strategic agreement with the Commercial Bank of Dubai (CBD) in order to drive its technology transformation program and “further enhance its banking services to personal and business customers.” Accenture will set up “a development center of excellence (COE) to… Read More

December 11, 2023 @ 11:31 am By Omar Faridi  |  

Eltropy, a digital conversations platform for community financial institutions (CFIs), announced that Eltropy’s Digital Conversations Platform is now accessible through the Jack Henry (Nasdaq: JKHY) digital banking platform. Eltropy leveraged the Banno Digital Toolkit, the same set of APIs the Banno Digital Platform is built… Read More