Tagged: banking

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

September 28, 2023 @ 11:21 am By Omar Faridi  |  

Perenna is pleased to announce they’ve raised over £42m in our latest fundraise, which was reportedly “led by Silverstripe Investment Management, alongside participation from existing investors.” This successful fundraise is a major milestone for Perenna’s rapidly growing company, and “testament” to the great team they… Read More

September 27, 2023 @ 7:23 am By Omar Faridi  |  

Atomic, a key player focused on financial connectivity solutions, announced the launch of PayLink, a solution suite that streamlines payment switching, “making it easier for consumers to switch their primary banking relationship.” In addition to providing a significantly improved consumer experience, this solution brings Atomic… Read More

September 26, 2023 @ 8:26 pm By Michael Wong  |  

Singapore multinational banking and financial services firm OCBC has announced that the OCBC Pay Anyone app will be retired in October, with the exact date to be confirmed soon. This is part of OCBC’s commitment to offer an enhanced app experience by integrating the features… Read More

September 25, 2023 @ 10:41 am By Omar Faridi  |  

SIX Terravis, SIX’s digital platform for the mortgage market, is contributing to the planned expansion of the Swiss National Bank’s (SNB) liquidity provision framework for the banking sector. Recent experiences show that banks of all sizes and “with different business models can find themselves in… Read More

September 25, 2023 @ 9:12 am By Omar Faridi  |  

Digital bank Monzo notes that gambling charity GamCare has revealed that more people are reaching out for support with problem gambling this year than ever before. Back in June 2018 Monzo claims that it “became the first bank to let you block gambling spending from… Read More

September 24, 2023 @ 10:24 pm By Omar Faridi  |  

Metro Bank’s ‘Scam of the Month’ for September 2023 is a warning to drivers about the influx of second-hand car scams “as approximately a million drivers take possession of their new 73 licence plate cars from September.” Purchase scams can take many forms; “with the… Read More

September 24, 2023 @ 3:47 pm By Michael Wong  |  

Nagad, a Mobile Financial Service (MFS) provider in Bangladesh, is on the verge of launching a digital bank. The company expects to receive its license from the Bangladesh Bank, the country’s central bank, in the coming months. Sadaf Roksana, co-founder and executive director of Nagad… Read More

September 24, 2023 @ 6:01 am By Omar Faridi  |  

As part of a multi-year effort to transform trade finance, Bank of America (NYSE: BAC) is launching CashPro Supply Chain Solutions, a platform that will offer participants in a supply chain the benefits of digitization with improved process efficiency and working capital optimization. CashPro is… Read More

September 23, 2023 @ 7:22 pm By Omar Faridi  |  

Tred, which aims to build one of the UK’s green banking platforms, has secured 114% (£171,707.44) of its £150,000 target from 428 investors with 3 days left in the firm’s crowdfunding campaign, carried out via Crowdcube. Tred explains that they are B Corp pending as well… Read More

September 22, 2023 @ 8:25 am By Omar Faridi  |  

Custodia is pleased to announce that Lisa Hough has joined the bank as Vice President of Strategic Relationships, responsible for helping customers in the U.S. Bitcoin and energy industries “meet their banking and bitcoin custody needs.” Lisa transitioned to the Bitcoin sector in 2019 “after… Read More

September 21, 2023 @ 10:22 am By Michael Wong  |  

A landmark cooperation agreement has been forged between the International Finance Corporation (IFC) and the Banking Association of Bosnia and Herzegovina (UBBiH). This collaboration is set to strengthen the environmental, social, and corporate governance (ESG) capabilities of Bosnia and Herzegovina’s banking industry. The alliance strives… Read More

September 21, 2023 @ 6:17 am By Michael Wong  |  

The Hong Kong Monetary Authority (HKMA) unveiled the Green Fintech Competition today, aiming to foster the assimilation of green fintech solutions within the city’s banking realm. This competition aligns with HKMA’s commitment to buttressing the banking sector’s adaptability to climate risk. Green fintech enterprises, both… Read More

September 20, 2023 @ 8:51 am By Omar Faridi  |  

As the interest rate environment continues to place pressure on the banking sector, key insights and data collected (last week) shed light on the present situation. This data, shared with CI, was obtained from banking, fintech and financial professionals at FinovateFall in New York and… Read More

September 19, 2023 @ 8:17 pm By Omar Faridi  |  

Backbase is pleased to announce the partnership with Judo Bank (ASX: JDO) is now live. Judo selected Backbase’s Engagement Banking Platform (EBP) to create new digital experiences for its small and medium (SME) business banking and term deposit customers. The adoption of Backbase’s EBP will… Read More

September 19, 2023 @ 8:15 am By Omar Faridi  |  

Gatehouse Bank, the Shariah-compliant challenger bank, has released new research demonstrating that the UK’s money mindset is shifting towards saving. The research looked at UK adults’ attitudes towards money, “assessing the key factors that influence them, why they look to save or spend their money… Read More

September 18, 2023 @ 9:32 pm By Michael Wong  |  

The Association of Banks in Singapore (ABS) has revealed that significant retail banks in the city-state have bolstered their security protocols against malware scams, introducing enhancements and new countermeasures to adapt to the ever-evolving threat landscape. In a bid to safeguard their varied customer base… Read More