Tagged: digital bank

September 18, 2024 @ 10:25 am By Omar Faridi  |  

Digital banking provider Tyfone announced Bank3 selected its nFinia Digital Banking platform to provide commercial and retail account holders a more intuitive and engaging experience, while also streamlining and automating back-office processes. The bank’s future growth initiatives are focused “on a wide range of commercial… Read More

September 17, 2024 @ 6:22 am By Omar Faridi  |  

Revolut is reportedly preparing for a 2025 launch in India. Potentially targeting millions of India’s consumers in a vital test for the growth strategy of Europe’s most valuable Fintech, Revolut will aim to take advantage of establishing operations in one of the world’s fastest-growing economies. London-headquartered Revolut… Read More

September 14, 2024 @ 4:52 pm By Omar Faridi  |  

Ultravioleta, Nubank’s (NYSE: NU) high-income customer experience, launches today a series of Bank Deposit Certificates (CDBs, from the acronym in Portuguese) with more competitive yield rates than those already available in the app. According to the website, Ultraviliot card cashback may grow at twice the… Read More

September 14, 2024 @ 12:45 pm By Michael Wong  |  

Abu Dhabi’s sovereign wealth fund, Mubadala, has taken its first stake in London-based Fintech company Revolut, participating in a share sale that valued the firm at $45 billion. Revolut is one of the largest crowdfunding success stories. During its early days, the company raised money… Read More

August 28, 2024 @ 9:44 pm By Omar Faridi  |  

OakNorth – the digital bank for entrepreneurs, by entrepreneurs – announces that it has secured authorization from the Federal Reserve and the New York State Department of Financial Services (NYDFS) for a Representative Office in New York. The authorization will enable OakNorth to “proactively market… Read More

August 27, 2024 @ 1:02 pm By JD Alois  |  

Sygnum Bank is a digital asset-focused financial institution that is based and regulated in Switzerland, supervised by the Swiss Market Financial Authority (FINMA). The company also holds a CMS [Capital Market Services license issued by the Monetary Authority of Singapore (MAS). Both of these jurisdictions… Read More

August 27, 2024 @ 8:35 am By Omar Faridi  |  

Revolut has reportedly signed a global Visa Direct agreement for cross-border business transfers. Revolut has joined forces with Visa in order provide business clients with instant card transfers for cross-border transactions. Digital bank Revolut officially announced that it entered an agreement with Visa Direct agreement… Read More

August 26, 2024 @ 10:24 pm By Omar Faridi  |  

Backbase, the global enabler of engagement banking, has successfully delivered a new digital banking platform for MyState Bank to support future growth. The platform represents a significant leap forward in “delivering seamless, customer-centric digital experiences to MyState customers.” MyState has partnered with Backbase “to modernise its… Read More

August 25, 2024 @ 9:03 pm By Omar Faridi  |  

OakNorth, the digital bank for entrepreneurs, by entrepreneurs, has provided a £6m loan to Gatehouse Hub Ltd to fund the development of 19 industrial logistics units spread over 43,487 sq.ft., and a wellness centre comprising of 6,458 sq.ft. on the outskirts of Burgess Hill in… Read More

August 25, 2024 @ 7:53 pm By Michael Wong  |  

A significant majority of consumers, 78%, in India now prefer to conduct their banking digitally through mobile apps or websites, according to a recent report by Alkami Technology. This shift underscores the broader move towards cashless transactions and contactless payments, trends that have accelerated significantly… Read More

August 22, 2024 @ 11:33 am By Omar Faridi  |  

Revolut has noted that its secondary share sale provides liquidity “for employees, allowing them to realize their contribution” to the Fintech firm’s growth. As reported recently, the secondary share sale values Revolut at “a $45 billion valuation, cementing its position as the most valuable private… Read More

August 16, 2024 @ 1:11 pm By Omar Faridi  |  

Digital bank Revolut has reportedly secured a $45 billion valuation in a share sale by company workers, beating an overall fintech industry downturn and solidifying its position as Europe’s most valuable startup venture. This, as the UK government aims to convince it to pursue a… Read More

August 15, 2024 @ 6:16 am By Omar Faridi  |  

C6 Bank, a Brazilian bank whose partner is JPMorgan Chase, reported a net profit of R$969 million between January and June 2024. The bank’s first half-year profit, the result is being attributed to the ongoing work to expand revenues, control costs and stabilize “provisions for… Read More

August 14, 2024 @ 4:28 pm By Omar Faridi  |  

European digital bank N26 announces updates to its management board. After more than two years at N26, Chief Regulatory Officer Jan Stechele will step away from his executive duties “at the end of the third quarter of 2024.” Having been appointed to the N26 Management… Read More

August 14, 2024 @ 8:15 am By Omar Faridi  |  

LendingClub Corporation (NYSE: LC), the parent company of LendingClub Bank, America’s leading digital marketplace bank, has released new data revealing a surprising lack of consumer awareness “regarding the true cost of their credit card debt in today’s high interest rate environment.” LendingClub conducted a national… Read More

August 12, 2024 @ 3:27 pm By Omar Faridi  |  

UK’s digital bank Monzo announces that it surpassed 10 million personal customers in the UK as it continues to make money work for everyone. The milestone follows Monzo’s first full year of profitability, a funding round and various product announcements as the firm moves forward… Read More

August 10, 2024 @ 12:54 pm By Michael Wong  |  

The Bangko Sentral ng Pilipinas (BSP), the central bank of the Philippines, has announced the lifting of its moratorium on the issuance of new digital banking licenses, effective January 1, 2025. The decision, approved by the Monetary Board, will allow up to ten digital banks… Read More

August 9, 2024 @ 5:41 pm By Omar Faridi  |  

Philippines based digital bank, Tonik, announces its expansion to Cebu, bringing its full suite of customer-centric and innovative products to this region. This move underscores Tonik’s vision to “enhance financial inclusivity and provide accessible banking solutions to more Filipinos.” With this expansion, customers in Cebu… Read More

August 9, 2024 @ 9:18 am By JD Alois  |  

Clear Bank has earned a Credit Institution Licence from the European Central Bank under the supervision of De Nederlandsche Bank. The license allows Clear Bank to operate across Europe. ClearBank is authorized in the UK by the Prudential Regulation Authority (PRA) and regulated by the Financial… Read More

August 9, 2024 @ 8:47 am By Omar Faridi  |  

CaixaBank has mobilized a total of €67.16 billion in sustainable finance according to data at the end of June 2024. This figure means having surpassed “the objective of the bank’s Sustainable Banking Plan, included in the 2022-2024 Strategic Plan, six months before the end of… Read More