Tagged: banking

January 7, 2022 @ 10:00 am By Omar Faridi  |  

Jack Wilson, ex-FCA advisor and TrueLayer’s Head of Public Policy, notes that he’s responsible for coordinating how the firm “influences” public policy (government and regulators) to ensure the appropriate conditions for the company’s growth across the United Kingdom, European Union, internationally. A lot of the… Read More

January 6, 2022 @ 10:17 pm By Omar Faridi  |  

Bank Negara Malaysia, the nation’s central bank, recently issued the Discussion Paper on Licensing Framework for Digital Insurers and Takaful Operators. As noted by Bank Negara, the Discussion Paper outlines the proposed framework for “licensing new digital insurers and takaful operators (DITOs)” in order to… Read More

January 6, 2022 @ 2:56 pm By JD Alois  |  

LendingClub (NYSE:LC) is exiting the yacht lending sector. While most people were probably unaware that Lendingclub provided loans for boats, the digital bank announced this week that yacht lending will no longer be a part of their business. In a blog post, LendingClub CEO Scott… Read More

January 5, 2022 @ 11:15 pm By Omar Faridi  |  

UK’s digital bank Starling has reportedly launched a new advertising campaign that “encourages small business owners to break free from their incumbent bank.” As mentioned in a release, the campaign, created specifically for Starling Bank by Wonderhood Studios, is the second “under Starling’s new platform… Read More

January 5, 2022 @ 4:27 pm By Omar Faridi  |  

Finland’s card-as-a-service (CaaS) platform Enfuce, which recently finalized a €45 million Series C round, notes that client expectations and competition in the banking sector are “getting tougher all the time.” Denise Johansson, Co-Founder, Chief Commercial Officer & Deputy CEO at Enfuce, writes in a blog… Read More

January 5, 2022 @ 9:56 am By JD Alois  |  

Baanx has received regulatory approval to provide crypto asset services by the UK Finacial Conduct Authority (FCA). Baanx is registered as a crypto asset business under the Money Laundering, Terrorist Financing, and Transfer of Funds (Information of the Payer) Regulations 2017 (MLR 2017). Baanx is… Read More

January 3, 2022 @ 9:45 am By Omar Faridi  |  

The team at Mambu, a modern SaaS banking platform, says that it has been a solid year for them. It began with the announcement of their €110 million round of funding that was led by TCV, whose investments reportedly include Netflix and Spotify, and ended… Read More

January 2, 2022 @ 3:38 pm By JD Alois  |  

Zelle is a peer-to-peer payments service that is now utilized by over 1000 banking apps across the US. As services like Venmo gained in popularity, traditional banks were compelled to compete and Zelle has emerged as a viable alternative for real-time transfers. Originally founded by… Read More

December 26, 2021 @ 10:44 pm By Omar Faridi  |  

Saudi Arabia-headquartered Arab National Bank has reportedly signed on US-based open-source software provider Red Hat, Inc., for the latter’s open hybrid Cloud technologies. As mentioned in the announcement, the Arab National Bank is planning to enhance its capabilities in virtual banking, open finance and customer… Read More

December 26, 2021 @ 9:08 pm By Omar Faridi  |  

Fnality, the financial technology company establishing a network of distributed financial market infrastructures using blockchain or distributed ledger tech (DLT), revealed it will be able to lower banks’ intraday liquidity requirements “by up to 70%, reducing funding costs and payment delays.” The findings come ahead… Read More

December 23, 2021 @ 11:47 pm By Omar Faridi  |  

The only “free” Open Banking platform, Nordigen, has entered into a partnership with full-service company management tool provider, Enty, in order to offer the latter with banking data that’s delivered right to their dashboard, along with integration with their other solutions. Enty may be described… Read More

December 22, 2021 @ 11:11 pm By JD Alois  |  

Announced last month, Oportun (Nasdaq: OPRT) reports that it has completed the acquisition of neobank platform Digit. Digit will operate as a business unit within Oportun and continue to be led by Digit founder and CEO, Ethan Bloch. All of Digit’s 100+ employees are said… Read More

December 22, 2021 @ 2:46 pm By Omar Faridi  |  

Finxact, the provider of the next-gen core banking platform to the US regional and super-regional banking sector, announced its Product Launchpad, a key platform enhancement that “empowers banker product teams and product designers to create and deploy products on the Finxact core via a visual… Read More

December 22, 2021 @ 9:06 am By Omar Faridi  |  

Bakkt Holdings, Inc. (NYSE: BKKT), a digital asset platform that enables consumers to purchase, sell, send and spend various cryptocurrencies, announced that Manasquan Bank, a NJ-headquartered mutual community bank with total consolidated assets of $2.7 billion, will be “participating in its early adopter program, which,… Read More

December 20, 2021 @ 11:41 pm By Omar Faridi  |  

The European Central Bank (ECB) has published an action plan to address the recommendations of an independent review “mandated by the ECB’s Governing Council in November 2020, following the five major incidents that affected TARGET2 and TARGET2 Securities in 2020.” The update from the ECB… Read More

December 20, 2021 @ 10:47 pm By Omar Faridi  |  

Avant, a financial technology firm that aims to give middle-income consumers access to the credit they “deserve,” has announced the official launch of Avant Banking. The launch of Avant Banking further expands the firm’s financial product portfolio of personal loans, credit cards and auto refinance…. Read More

December 19, 2021 @ 10:58 pm By Omar Faridi  |  

The British Business Bank has announced an increase to business lender Simply’s ENABLE Funding facility. In total, the facility will reportedly offer £300 million of funding to SMEs across the United Kingdom. This is notably the largest facility under the British Business Bank’s ENABLE Funding… Read More

December 18, 2021 @ 4:23 pm By Omar Faridi  |  

Contrast Security, a company focused on next-gen code security, has announced Backbase, an engagement banking platform, has chosen the Contrast Code Security Platform in order to secure its software that offers banks with “the speed and flexibility needed to orchestrate seamless customer and employee experiences… Read More

December 15, 2021 @ 5:08 pm By Omar Faridi  |  

Engagement Banking technology provider Backbase has announced that it is teaming up with Blue Federal Credit Union, a credit union with head offices in Wyoming and serving communities across the Western United States, to “reinvent the digital experience for all of Blue’s retail and business… Read More

December 14, 2021 @ 9:46 pm By Omar Faridi  |  

Temenos (SIX: TEMN), the banking software firm, has confirmed that KAF, a diversified financial services conglomerate in Malaysia, has chosen the Temenos Banking Cloud to introduce a digital lending business. KAF will reportedly be using Temenos Banking Services for handling retail loans and Islamic financing… Read More