Tagged: banking

April 28, 2022 @ 8:25 am By Omar Faridi  |  

Over 8 million current accounts have reportedly been switched since a service making it a lot easier for clients to swap their banks or building society was introduced. The Current Account Switch Service (Cass) was introduced back in 2013 in order to remove all the… Read More

April 27, 2022 @ 4:56 pm By JD Alois  |  

LendingClub (NYSE:LC) a digital bank with a focus on providing consumer snd commercial credit, has reported Q1 2022 earnings. According to the Fintech, revenue was reported at $289.5 million growing 174% year-over-year. Loan originations grew by 117%. Net income came in at $40.8 million compared… Read More

April 27, 2022 @ 2:07 pm By Omar Faridi  |  

Personetics, which claims to be the leading provider of financial data-driven personalization, customer engagement, and advanced money management capabilities for financial institutions, recently announced the launch of Sustainability Insights. This offering, included within the Personetics engagement platform, will help banking institutions meet growing customer demand… Read More

April 26, 2022 @ 8:11 pm By Omar Faridi  |  

The Federal Court in Australia has reportedly ordered Westpac to pay penalties in the amount of $113 million “for widespread compliance failures across multiple businesses, including Westpac’s banking, superannuation, wealth management and insurance brands.” Justice Beach recently handed down his decision “in the last of… Read More

April 26, 2022 @ 1:27 am By Omar Faridi  |  

Retail banks are currently “lagging” in their ability to offer “true” omnichannel experiences, as customers pivot to competitors that “offer more personalized experiences.” This, according to the latest World Retail Banking Report 2022 (WRBR) released by Capgemini and Efma. As noted in the update, 75%… Read More

April 25, 2022 @ 10:32 pm By Omar Faridi  |  

WeLab Bank, the virtual bank dedicated to “curating intelligent banking experience,” has reportedly become the “first” digital bank in Hong Kong licensed “to offer digital wealth advisory services.” Having obtained the Type 1 (Dealing in securities) and Type 4 (Advising on securities) licenses from the… Read More

April 24, 2022 @ 4:43 pm By Omar Faridi  |  

Tintra PLC, the Regtech firm building a global, borderless banking infrastructure to democratize payments for emerging markets, recently announced share issue details of the “latest receipt of a $2 million private funding round, valuing the company, in the private market at least, at $100 million,… Read More

April 24, 2022 @ 2:37 pm By Omar Faridi  |  

Evolve Bank & Trust and Bond Financial Technologies, Inc. are pushing the boundaries of embedded finance “to bring innovation to companies that want to offer financial products to their customers.” Evolve and Bond enable entrepreneurs “to build and launch innovative financial solutions at scale.” Hank… Read More

April 24, 2022 @ 9:34 am By Omar Faridi  |  

Dreams, the financial wellbeing platform and “leader” in engagement banking solutions, recently announced the appointment of Russell Prince-Wright, Jason Curtis and Peter Hedlund, to join Dreams’ senior management team “as Regional Directors and drive the company’s B2B expansion.” Collectively, Russell, Jason and Peter “bring more… Read More

April 22, 2022 @ 9:47 am By Omar Faridi  |  

Neobank MyInvestor has reportedly reached €2 billion in volume, which “doubles the 1 billion euros registered in March 2021, consolidating its position as the largest Spanish fintech by volume.” Now serving more than 110,000 customers, MyInvestor also has “an investment balance (funds, plans and portfolios)… Read More

April 21, 2022 @ 5:01 pm By Omar Faridi  |  

Jack Henry & Associates, Inc. (NASDAQ: JKHY) recently announced that Old Second National Bank has expanded its collaboration with Jack Henry “to support the bank’s digital and growth strategy.” Among the largest locally headquartered banks in the Chicago area, Old Second benefited from “a seven-year… Read More

April 21, 2022 @ 12:15 pm By Omar Faridi  |  

First Internet Bank recently announced that Genevieve Lua has “joined its growing Small Business Administration (SBA) Lending team as a Vice President, Business Development Officer.” First Internet Bank Vice President, National SBA Sales Manager Mark Gibson said: “Genevieve’s people-first focus and relationship-building skills are important… Read More

April 21, 2022 @ 11:02 am By Omar Faridi  |  

  In the face of this “tsunami” of branch closures, plans are progressing on a pilot which will see high street “champions” and community branch innovators, Newcastle Building Society, team up with global player in cash automation, GLORY, and shared banking Fintech, OneBanks Hub, in… Read More

April 19, 2022 @ 4:07 pm By Omar Faridi  |  

Financial technology provider FIS (NYSE: FIS) has announced its Banking-as-a-Service Hub, enabling banking institutions, credit unions, and Fintechs to build the virtual banking and payments ecosystems they require to provide innovation to merchants and consumers. The FIS Banking-as-a-Service Hub offers a complete suite of banking… Read More

April 19, 2022 @ 10:40 am By JD Alois  |  

Goldman Sachs (NYSE:GS), the words most prominent investment bank and aspiring global Fintech, announced Q1 earnings today that topped estimates. Goldman reported net revenues of $12.93 billion and earnings of $3.94 billion or an EPS of $10.76. Estimates had pegged EPS at $8.89. During the… Read More

April 19, 2022 @ 7:31 am By Omar Faridi  |  

Bank of America (NYSE: BAC) released its Q1 2022 financial report on Monday (April 18, 2022). The progress report from the bank exceeded industry analysts’ estimates, supported by the better-than-expected credit quality of the institution’s borrowers. Here are the key stats shared by Bank of… Read More

April 17, 2022 @ 8:00 pm By Omar Faridi  |  

We recently connected with Bill Sytsma, Senior Vice President at Callsign, a digital trust pioneer servicing some of the top banks in the US, to discuss authorized push payment (APP) fraud. Bill began working at Callsign in January 2021, where he is responsible for the… Read More

April 15, 2022 @ 11:24 am By Omar Faridi  |  

Douugh Ltd, the banking ‘Super App’ on a mission to help customers budget, save and invest their money “to live financially healthier lives,” is pleased to announce a partnership with Pinwheel in order to facilitate automatic direct deposit switching for its US clients. Douugh’s clients… Read More

April 15, 2022 @ 11:03 am By JD Alois  |  

EQUibank, a financial services firm located in Dominica, continues to promote its ability to hold and manage your OTC crypto from a licensed and regulated bank. OTC trading typically entails larger transactions so access to liquidity providers, something EQUIBank says it has, can be helpful…. Read More

April 14, 2022 @ 2:43 pm By Omar Faridi  |  

  Quontic Bank announced that it has introduced the “first-ever” tap-to-pay mobile payment ring to the US market. Quontic is an “innovative,” “digital-first,” and “customer centric” bank on a mission “to redefine how a bank and its customers conduct business.” Steve Schnall, CEO and Founder… Read More