Tagged: banking

October 22, 2023 @ 2:58 pm By Omar Faridi  |  

Backbase, the global firm supporting Engagement Banking, announced that Atomic, a provider of consumer-enabled direct deposit switch technologies, will integrate its direct deposit and income and employment verification capabilities directly into Backbase’s Engagement Banking Platform. Through this partnership, financial institutions can “offer their customers the… Read More

October 19, 2023 @ 10:05 pm By Omar Faridi  |  

Alloy, the identity risk management company, is expanding its credit underwriting capabilities to support banks, fintechs, and other builders of financial products in managing their holistic credit risk. In a challenging macro-environment, Alloy enables lenders to “make smarter credit decisions, capture default risk, and increase… Read More

October 19, 2023 @ 9:48 am By Omar Faridi  |  

UK Fintech TrueLayer has joined Stripe’s Payment Element for supporting Open Banking payments. UK’s TrueLayer has reportedly become the first European Open Banking payment solution to be added to Stripe’s Payment Element. This partnership allows Stripe merchants in the United Kingdom and the EU to… Read More

October 18, 2023 @ 2:40 pm By JD Alois  |  

Banco de Credito (BCP) in Peru has selected i2c for its digital banking services, according to a company statement. BCP is supported by Credicorp Ltd. (NYSE: BAP), the primary financial holding company in Peru. The bank has a presence in Chile, Colombia and Bolivia. i2c… Read More

October 16, 2023 @ 9:56 pm By Omar Faridi  |  

Sygnum, the digital asset bank, has generated additional CHF multi-billion client demand by complementing its core regulated digital asset offering with traditional securities. As noted in an update from Sygnum: Market traction due to clients’ ability to combine crypto and traditional assets conveniently, simply and… Read More

October 14, 2023 @ 6:03 pm By Omar Faridi  |  

The Consumer Financial Protection Bureau (CFPB) issued an advisory opinion regarding a provision enacted by Congress that generally prohibits large banks and credit unions from imposing unreasonable obstacles on customers, “such as charging excessive fees, for basic information about their own accounts.” Under a 2010… Read More

October 14, 2023 @ 10:35 am By Omar Faridi  |  

The European Investment Fund (EIF) and KBC Insurance have announced a new investment partnership that will see the Belgium-based Banking and Insurance Group support up to €200 million of equity investments in sustainable infrastructure projects across Europe. The deal, signed in Brussels, runs over “a… Read More

October 13, 2023 @ 10:02 pm By Omar Faridi  |  

Axis Bank, one of the largest private sector banks in India and Fibe, (formerly known as EarlySalary), India’s Fintech, partnered in order “to launch India’s first-ever numberless credit card for tech-savvy Gen Zs.” With a numberless credit card, customers get “an added level of security… Read More

October 13, 2023 @ 9:13 am By Omar Faridi  |  

Tandem, the UK’s greener digital bank, has appointed James Streeter as Head of ESG, supporting its drive to keep sustainability at the core of Tandem. In this newly created role, James will aim to “set the environmental, social and governance (ESG) strategy for Tandem; taking… Read More

October 12, 2023 @ 11:25 pm By Omar Faridi  |  

Carefull, an AI-powered financial safety platform that helps banks and wealth advisors protect aging customers from scams and money mistakes, announced that it has closed its Series A round with $16.5 million in funding. The investment round was “led by Fin Capital and joined by… Read More

October 12, 2023 @ 8:46 am By Omar Faridi  |  

cahoot, the UK-based online bank, has increased the interest offered on its Simple Saver account. cahoot Simple Saver (issue 2) now “pays customers 5.12% AER/gross variable rate interest for 12 months, on balances up to £500,0001.” Simple Saver (issue 2) is described as an easy… Read More

October 11, 2023 @ 8:16 am By Omar Faridi  |  

Scottish digital bank Alba Bank announced that it will migrate to Mambu’s cloud banking platform to manage its small and medium-sized enterprise (SME) lending services, as well as its retail and business deposits. Alba bank has been approved for a UK banking licence. Alba Bank… Read More

October 10, 2023 @ 9:20 am By Omar Faridi  |  

Nationwide Building Society’s longstanding commitment to the High Street means it now has the largest number of branches in the UK – which is “more than any other banking brand.” Research from Britain’s biggest building society reveals “around two thirds of people (63%) value their… Read More

October 9, 2023 @ 7:37 am By Omar Faridi  |  

Metro Bank has announced a successful capital package consisting of the following: a £325m capital raise and a £600m debt refinancing. Metro Bank says it has “secured £325m capital raise, comprising £150m of new equity and £175m of new MREL issuance, alongside £600m of debt… Read More

October 8, 2023 @ 2:47 pm By Omar Faridi  |  

Gemba Finance, a provider of innovative banking and financial management solutions, and ThetaRay, the firm focused on next-generation AI-powered trusted global payments, announced the implementation of ThetaRay’s AI-powered transaction monitoring technology, SONAR, in order “to power Gemba’s growth, while reducing regulatory exposure which frequently hampers… Read More

October 7, 2023 @ 3:22 pm By Omar Faridi  |  

In early 2023, TrustPay has reportedly received its Payment Initiation Service Provider (PISP) license and following that, they claim to have selected a partner “with a large reach of connected banks to widen their own reach.” As a Slovakian payments service provider or PSP, TrustPay… Read More

October 6, 2023 @ 9:01 am By Omar Faridi  |  

Metro Bank (MTRO.L)has had a challenging week. Reports that the UK-based challenger bank had been planning to raise as much as £600 million from investors led to financial regulators asking the bank’s management to have a sit-down meeting. Although shares in the banking institution fell… Read More

October 5, 2023 @ 11:16 am By JD Alois  |  

  Chase and Bank of America are the big losers when it comes to providing a savings rate for their account holders. Currently both Chase and B of A offer a interest rate on their savings account of a measly 0.01% (APY). What do you… Read More

October 4, 2023 @ 7:17 am By Omar Faridi  |  

Japan’s largest bank Mitsubishi UFJ Financial Group (MUFG), has increased its LP capital commitment to the non-dilutive funds operated by Mars Growth Capital from $750 million  to $1 billion. This signals MUFG’s strong belief in the future potential of MARS Growth Capital, a joint venture… Read More

October 3, 2023 @ 10:57 pm By Omar Faridi  |  

Qred, Sweden’s fintech company, is announcing that the banking license the company acquired in May is now “activated and the company is officially a bank.” In addition to this, Qred is re-appointing Mattias Carlsson, former long standing CEO of TF Bank, as Chair of the… Read More