Monzo, an emerging heavy-weight in the hot digital banking sector, has shared that 36,006 individuals crowdfunded £20 million in just 2 days, 2 hours and 45 minutes. The offer was hosted on Crowdcube and received intense interest as competition in the UK banking sector heats… Read More
According to Tandem Bank, nearly three quarters of its Journey Card customers are building or rebuilding their lives with credit using the product. 72% of customers for Tandem’s latest card product are either entirely new to credit, re-engaging it, or had trouble in the past… Read More
Digital bank Revolut has acquired licenses to expand in Japan and Singapore. The launch in the Asian countries comes just after the fintech reportedly is planning to raise $500 million through its upcoming Series D funding round. According to CNBC, Revolut reported it received a remittance license… Read More
Digital bank Revolut is revving up for a $500 million series D funding round, according to recent reports. This next capital injection follows the last round from earlier this year when Revolut raised $250 million at a valuation of $1.7 billion. The funding validated its… Read More
The CEO of London-based digital only banking platform Revolut has denied popular claims that Wall Street is poised to avalanche into cryptocurrency investing. Revolut CEO Nikolay Storonsky, told an audience at the Web Summit 2018 in Lisbon, last week, that, as far as he is concerned: “There is… Read More
Multiple reports have indicated that 29 firms have made the cutoff for the first batch of virtual banking licenses in Hong Kong. Announced in September 2017, the push for digital banks in Hong Kong was designed to “bring Hong Kong into a New Era of… Read More
Zopa has raised additional money in a new funding round. The peer to peer lending announced a raise of £44 million to help pay for its expansion and push into new services. Zopa will use the latest round of investment towards the capital needs for the… Read More
United Overseas Bank Limited (UOB) is set to introduce its own digital bank, UOB’s Digital Bank, which will be deployed in the bank’s key Southeast Asian markets as the Group accelerates and broadens the growth of its regional customer franchise. According to UOB, the Digital Bank… Read More
Neat, a digital bank based in Hong Kong, announced earlier this week it secured a $2 million investment from Dymon Asia Ventures and Portag3 Ventures. Founded in 2015, Neat offers two banking products, Neat Business and Neat Personal. All banking with Neat is done through its… Read More
Peer-to-peer lending platform Zopa announced on Monday its 2017 profit after tax of £1.5 million for its online lending business. According to the Fintech, 2017 was a year of strong and sustainable growth, with the year’s revenue being £46.5 million – an increase of 40%… Read More
Digital challenger bank Monzo reported on Friday that Typeform, a company they have utilized for user surveys, experienced a data breach that impacted some of their users. Tom Blomfield, CEO of Monzo, published a post on the Monzo blog outlining the attack. Monzo was quick… Read More
Fintechs Banco BNI Europa and Raisin have furthered the collaboration between the two firms. Banco BNI Europe says it has entered into a cooperation to allow Portuguese savers to gain access to the best savings rates available from across Europe. BNI Europa Executive Chairman Pedro… Read More
Digital bank Starling Bank has launched a new feature to streamline the process of creating joint accounts without ever having to visit a UK bank branch. The mobile application process uses Google Nearby tech to enable Starling users to securely apply for a joint account in just… Read More
Revolut, a digital only bank that says it is signing up over 120 businesses per day, has launched a new services for their business customers – Revolut Connect. This new feature is described as an “App store” for businesses to help provide easier access to… Read More
The Swedish communications company Rebtel has secured $8 million in financing from its owner company to further expand its ecosystem of resources for “modern migrants,” adding digital banking services to its existing communication / telephony services and on-demand work offerings. Rebtel clarified via email that “the proceeds… Read More
Digital challenger bank Revolut has announced EUR Direct Debits or European customers thus facilitating direct debits for automated payments. The traditional bank alternative now facilitates easy monthly payments such as phone bills, utilities and other regular services. Revolut points out they already allow European customers… Read More
Virgin Money, a financial firm under Virgin that offers savings, mortgages, credit cards, current accounts, currency services, pension, investments, and protection products to customers across the UK, has reportedly spent a total of £38.3 million over the last year to develop its brand new digital… Read More
Australian digital bank Xinja announced on Wednesday it received its Australian Credit Licence (ACL) from the Australian Securities and Investments Commission (ASIC). According to Xinja, the license is a significant step forward for the bank, as it will now be able to offer home loans, which it is… Read More
On December 1st, the Royal Bank of Scotland (RBS) announced it would close 62 RBS branches and 197 NatWest branches. The shuttering of these bank branches is not unique to RBS and is indicative of the global Fintech revolution. This is not the first time… Read More
Digital only challenger bank Revolut is preparing to enter the cryptocurrency world with new features on their bank app to allow users to exchange and use Bitcoin and other digital currencies. While some traditional banks look at crypto with disdain (heres looking at you, Jamie… Read More
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