Tagged: banking

January 18, 2022 @ 10:15 am By Omar Faridi  |  

The team at digital bank Revolut has noted that they hear about exchange rates all the time. The company has commented on what they actually are and why they can be very important. As explained by Revolut, foreign currency exchange rates are a way to… Read More

January 16, 2022 @ 2:17 pm By Omar Faridi  |  

Open Banking is four years old now, however, the team at TrueLayer asks “who’s using it, how is it benefitting consumers and what’s next?” TrueLayer writes in a blog post that the updated Payment Services Directive (PSD2) came into force “on 13 January 2018, introducing… Read More

January 14, 2022 @ 11:41 pm By Omar Faridi  |  

I2C Inc., a provider of virtual payment and banking tech, has reportedly appointed Serena Smith as the firm’s Chief Client Officer. Reporting directly to Amir Wain, Founder and CEO of i2c Inc., Smith will be responsible for overseeing international account management for existing and new… Read More

January 13, 2022 @ 8:27 pm By Omar Faridi  |  

Asia United Bank (AUB), one of the fastest-growing publicly listed universal banks, has teamed up with Wallyt, a virtual banking solution provider, in order to offer a card payment acceptance solution for merchants though a card QR code or link. Wallyt is a Hong Kong-headquartered… Read More

January 12, 2022 @ 6:15 pm By JD Alois  |  

One Zero Digital Bank has been approved for a full banking license. In 2019, the digital bank received a provisional license. According to a report in The Paypers, One Zero is now on par with other banks in Israel as it operations under the approval… Read More

January 12, 2022 @ 10:32 am By Omar Faridi  |  

We recently connected with Ben Waterman, COO and Co-founder, Strabo App, a cloud-based platform that helps you link multiple accounts from around the world in one dashboard. The Strabo App reportedly tracks all the money you own and owe, while providing you with a holistic… Read More

January 10, 2022 @ 4:47 pm By JD Alois  |  

LendingClub (NYSE:LC), a federally chartered digital bank, will share Q4 results and full-year 2021 performance later this month on January 26, 2022. LendingClub now has a complete year of operating as a digital bank following its acquisition of Radius Bank. LendingClub, once an online lender,… Read More

January 10, 2022 @ 3:21 am By Omar Faridi  |  

Solarisbank, a firm that’s focused on creating a world where financial services “seamlessly sync with life,” notes in its Fintech forecast report that 2021 was quite an uncertain period but not as “unprecedented” as 2020. Solarisbank wrote in a blog post that during the past… Read More

January 8, 2022 @ 12:51 pm By Omar Faridi  |  

Itai Damti, CEO at Unit, a financial services company that helps tech firms build financial features into their products (accounts, cards, payments, lending), notes that 2021 was a great year for Unit, thanks to their clients, team, partners, and investors. In the “demanding” day-to-day of… Read More

January 7, 2022 @ 3:15 pm By Omar Faridi  |  

The Bank for International Settlements (BIS) has appointed Raphael Auer as the Head of Innovation Hub Eurosystem Centre. Auer is presently a principal economist in the Innovation and the Digital Economy division of the BIS’s Monetary and Economic Department. He has “contributed extensively to BIS… Read More

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