Tagged: digital bank

Digital Bank Varo Money’s Users to Get Direct Access to Fintech WorldRemit’s Global Money Transfer Services via the Varo App

WorldRemit, a cross-border funds transfer company, revealed on February 19 that it has teamed up with Varo Money, an established Fintech firm focused on providing digital banking services in the US.  According to a press release, the partnership between the two companies will give Varo… Read More

A New Era in Fintech? LendingClub Reports Profitable Q4, Announces Acquisition of Digital Bank – Radius

LendingClub (NYSE:LC), the largest online lending marketplace in the United States, has simultaneously announced a GAAP profitable Q4 while revealing it has purchased a federally chartered bank, Radius Bank, thus immediately vaulting the Fintech into the hot digital banking realm. According to a release distributed… Read More

Monzo Turns Five & Celebrates By Looking Back at Previous Success

UK-based challenger bank Monzo is celebrating its fifth birthday!  Founded in 2015, Monzo stated it is building a new kind of bank that lives on smartphones and is built for its users “live today” by solving their problems, treating them fairly, and being completely transparent…. Read More

Starling Bank Investing in Zopa Loans: Report

UK based digital bank Starling Bank is investing in P2P loans originated on the Zopa platform, according to a report in AltFi. The write-up quotes a Starling Bank representative that explained the arrangement: “Starling is in a unique position among neobanks of having a very… Read More

Leaving the UK: Digital Bank N26 Points to Brexit as Cause to Close All British Accounts

In a bit of a shocker, Germany based digital bank N26 has decided to exit the UK market and close all customer accounts apparently due to Brexit. According to a blog post, the Fintech said leaving the UK does not change their global vision to… Read More

UK-based Digital Bank Revolut Introduces Open Banking Feature to Allow Users to View Bank Accounts from External Providers from Company’s App

Leading UK-based digital bank Revolut has introduced a new Open Banking feature, which will allow users to view their bank accounts from other financial service providers from within the banking challenger’s app. Revolut partnered with financial API developer TrueLayer to allow all of its retail… Read More

Digital Bank Varo Money Receives FDIC Approval Nears Final Stage of Bank Charter Journey

The Federal Deposit and Insurance Commission (FDIC), the US regulatory agency that provides vital deposit insurance for millions of account holders in the US, has given the green light to Varo Money – a digital-only bank. The Office of the Comptroller of the Currency (OCC),… Read More

Starling Bank Secures £60 Million Through Latest Funding Round; Brings Total Investment in the Challenger Bank to £323 Million

UK-based digital banking group Starling Bank has reportedly secured £60 million from existing investors Merian Global Investors and Harry McPike’s JTC. The banking group has successfully raised £323 million and the latest funding follows two investment rounds of £105 million, which were led by Merian in 2019…. Read More

Digital Banking Platform Majority Introduces Products for US Customers, Following Four Months of Beta Testing

Majority, a digital banking platform focused on serving immigrant communities, recently introduced its products to US customers, following a four-month beta testing period. In order to expand its existing business operations, Majority says it remains focused on two major drivers: physical meetup spaces and brand… Read More

Cultural Transformation Is Needed Before Traditional Banks Can Go Digital, Says Starling Bank Executive

Traditional banks and other financial institutions need to go through a cultural transformation before they can successfully undergo a digital transformation, according to the chief technology advocate at Starling Bank, whose statements came during a recent panel discussion. The recent debate, which was an initiative… Read More

UK’s Starling Bank Adds Molo, Underpinned, Paystream to its Business Marketplace with Over 100,000 Customers

The addition of Molo, UK’s first, all-digital mortgage lender, Underpinned, a career management platform for freelance workers, and accounting services provider Paystream to the Starling Business Marketplace will take the digital bank’s business integrations count to 14. The integrations aim to build on services that… Read More

Banking as a Service: Goldman Sachs Sizes Up Cloud based Financial Services for Fintechs & Other Banks

Marcus by Goldman Sachs (NYSE:GS), a digital bank serving customers in the US and UK, is expected to play a significant role in the future of the world’s most successful investment bank. During the recent Investor Day, Goldman outlined its vision for both corporate and… Read More

Dallas-based Texas Capital Bank Introduces Digital Savings Account that Pays Air Miles instead of Accumulating Interest

Dallas-based Texas Capital Bank has officially introduced Bask Bank, an online savings account that earns American Airlines AAdvantage miles, instead of accumulating interest. As mentioned on Bask’s website, the bank is a member of the Federal Deposit Insurance Corporation (FDIC), which means customers’ total deposits… Read More

Mexico Digital Banking Startup Stori Raises $10 Million Through Series A2 Financing Round Co-Led By Bertelsmann Investment & Source Code Capital

Stori, a Mexico-based digital banking startup, announced on Tuesday it secured $10 million through its Series A2 funding round, which was co-led by Bertelsmann Investments (BI) and Source Code Capital, with participation from existing investor Vision Plus Capital.  Stori has so far raised more than… Read More

India: Federal Bank Opens First “Digital Branch”

Federal Bank, a private bank with a branch network of 1,251 branches and about 2000 ATMs, has issued a release that it has opened its first “digital branch” called “Fed-e-Studio .” This digital branch was announced at an event last week at Rajarhat Bhatenda. Dr…. Read More

Jumio, an AI-enhanced ID Verification Service, Partners CIMB Bank Philippines’ All-Digital Bank to Offer User-Friendly Onboarding Platform

Jumio, an established provider of artificial intelligence (AI)-enhanced end-to-end identity verification and authentication services, has teamed up with CIMB Bank Philippines’ all-digital bank to offer a convenient and user-friendly digital onboarding solution to Filipinos. Having completed its first full year of business operations, CIMB Bank… Read More

Monzo Tightens Security By Updating 3D Secure Feature

UK-based challenger bank Monzo announced earlier this week it has up’ed its security measures by upgrading its 3D Secure feature, which is a payment standard that aims to reduce e-commerce fraud by adding two-factor authentication to online transactions. The upgraded version of 3D Secure will… Read More

Goldman Sachs Investor Day Sheds Light on Company Strategy, Retail Ambitions

Goldman Sachs Group (NYSE: GS) presented the firm’s vision for the future today in an Investor Meeting that charted the roadmap for the bank over the next few years. Goldman said the investor day reflects their ongoing commitment to providing the market with a “clear… Read More

Maharashtra-based Nashik Merchant’s Co-op Bank to Go Digital, Partners with India Transact Services Ltd

The Nashik Merchant’s Co-op Bank (NAMCO), a Maharashtra-headquartered co-operative bank has decided to go digital. The Indian co-op bank has reportedly teamed up with India Transact Services Limited (ITSL), in order to introduce point of sale (PoS) terminals for all of its merchant accounts. This… Read More

Curve to Bring Apple Pay to European Customers

Curve, a banking platform that consolidates multiple cards and accounts into one smart card and even smarter app, announced on Tuesday it is bringing Apple Pay to its customers across Europe. The company reported that with Apple Pay, customers may make purchases on iPhone, Apple… Read More

Send this to a friend