Tagged: digital bank

April 2, 2020 @ 7:24 am By Omar Faridi  |  

Xinja, a an Australian digital bank, has selected Box (NYSE:BOX), a cloud content management provider, to help with improving its client interactions through the neobank’s mobile app. Xinja clients’ bank statements and account data will be sent via a portal that’s operated and managed by… Read More

April 2, 2020 @ 12:44 am By Omar Faridi  |  

Los Angeles-headquartered banking challenger, HMBradley, has launched its own digital banking platform, which has been developed to reward savers. The bank’s clients who had been on the HMBradley waitlist will now be able to open a bank account and set up direct deposits. Users will… Read More

April 1, 2020 @ 12:01 pm By JD Alois  |  

Current, an aspiring digital bank with over 800,000 accounts, has pulled some paycheck and purchasing data to provide some insight into how the COVID-19 pandemic is impacting the economy. Of course, this is a snap-shot in time and a single set of data does not… Read More

April 1, 2020 @ 11:38 am By Omar Faridi  |  

Iceland-based banking challenger indó has secured €1 million in seed funding from several angel investors. As mentioned on its official website: “indó is the first Icelandic bank in decades. We want to make a difference by offering you 100% safe deposits. We will offer you… Read More

March 31, 2020 @ 10:36 am By Omar Faridi  |  

One, a digital banking startup that aims to provide financial services mainly intended for middle class workers, has chosen Finxact, which is a leading software-as-a-service (SaaS)-based core banking solution. Established by Bill Harris, the former CEO at PayPal and Intuit, One will use Finaxct to… Read More

March 30, 2020 @ 11:32 pm By Omar Faridi  |  

After performing an extensive vendor evaluation, Next Commercial Bank (NCB), Taiwan’s first all-digital bank, has introduced Kamakura Corporation’s proprietary solutions for risk management. NCB’s management says that a modular and integrated software solution can offer clear advantages over disparate systems by reducing operational costs and… Read More

March 30, 2020 @ 5:53 pm By Omar Faridi  |  

Digital bank 86 400 has confirmed that it has recently appointed two new business development managers in order to expand its presence in the mortgage broking sector. Hien Nguyen, a former FAST partnership manager, and Zac Harb, ME Bank’s key account manager, have reportedly joined… Read More

March 30, 2020 @ 8:01 am By Omar Faridi  |  

Yves Roesti, Sean Huang, Xuna Shao and Joshua Choy from Synpulse, a financial services consulting company, point out that most digital banks were launched without physical branch locations. What makes neobanks stand out from incumbents is their ability to leverage technology to differentiate their product… Read More

March 30, 2020 @ 7:44 am By Omar Faridi  |  

Challenger bank Virgin Money is reportedly evaluating its plans to shut down its physical branch locations as lenders begin to increasingly focus on reducing the potentially negative impact of an economic downturn, resulting from the coronavirus (COVID-19) outbreak. Hundreds of jobs, which had been created… Read More

March 29, 2020 @ 3:26 pm By Omar Faridi  |  

Brett King established Movenbank back in 2011. At the time, it was one of the world’s very first mobile-only, low-fee banking services. Movenbank offered a convenient and intuitive banking app that allowed users to take care of their day-to-day financial transactions. King won the Innovator… Read More

March 27, 2020 @ 4:17 pm By Omar Faridi  |  

Sydney-based Tyro Payments (ASX: TYR), an Australian Fintech institution that specializes in merchant credit, debit and EFTPOS acquiring, reports that its transaction volumes during the past three weeks have been steadily increasing. Tyro Payments notes that from March 1 to March 20, there was a… Read More

March 27, 2020 @ 11:36 am By Samantha Hurst  |  

UK-based digital banking group Starling Bank announced on Thursday it has introduced a delay to its in-app gambling-block, which means that customers wanting to turn the block off will have to wait 48 hours before they may reactive spending on betting and gaming. The digital… Read More

March 27, 2020 @ 9:00 am By Omar Faridi  |  

Lanistar, a new challenger bank, has officially launched its platform after acquiring £2 million in seed funding. Based in Hammersmith, Lanistar reportedly has 45 full-time workers on its payroll. The digital bank plans to add 150 more staff members. The neobank has been founded by… Read More

March 26, 2020 @ 6:31 pm By Omar Faridi  |  

Singapore-based Fintech company MatchMove has partnered with local finance firm, Singapura Finance Ltd., and two others, in order to apply for a virtual banking license in the city-state. The MatchMove-led consortium is the most recent group to reveal that it has filed an application for… Read More

March 26, 2020 @ 8:21 am By Omar Faridi  |  

Most small and medium-sized enterprises (SMEs) continue to prefer and work with traditional financial service providers, even though there are now many new digital-first businesses. This, according to Revolut Business, which has published a report, titled “2020 Vision: Taking a closer look at antiquated banking… Read More

March 25, 2020 @ 8:51 pm By Omar Faridi  |  

Nearly 65% of Singapore residents say they would consider working with an all-digital bank, according to the recently published Visa Consumer Payment Attitudes Study. The study reveals that 84% of Singapore-based respondents said that they’d be willing to use virtual banking services offered by an… Read More

March 25, 2020 @ 7:35 am By Omar Faridi  |  

Canada-based NorthOne, an established digital bank for small businesses, has decided to waive all account fees for thousands of its customers that have been affected by the coronavirus (COVID-19) outbreak. NorthOne’s management confirmed that it will be offering free banking services to all businesses in… Read More

March 24, 2020 @ 7:26 pm By JD Alois  |  

Hong Kong initiated a process in 2019 to facilitate digital-only banks. The move was indicative of the realization that digital banking, or virtual banks, is the future of banking and not the brick and mortar types. ZA Bank, an offshoot of ZhongAn Technologies International Group,… Read More

March 24, 2020 @ 4:12 pm By JD Alois  |  

Sygnum Bank, a licensed digital asset bank, has launched a stablecoin labeled Sygnum Digital CHF (DCHF) – a crypto tied to the Swiss Franc. This is a first stablecoin launched by a regulated Swiss bank. Sygnum also holds a capital markets services (CMS) license in… Read More

March 24, 2020 @ 2:03 pm By Omar Faridi  |  

Dubai’s World Investments is reportedly investing $433 million in Australia-based digital bank Xinja over the next couple years. This, after the mobile-first bank’s steady customer growth. Subject to pending regulatory approvals, Xinja bank will be able to access $160 million in capital immediately. The remaining… Read More