Tagged: digital bank

Regulated FV Bank Integrates Circle’s USDC for Account Holders

FV Bank, a digital/digital asset bank, has integrated USDC, Circle’s dollar-based stablecoin. The new service enables account holders the ability to instantly convert USDC into US dollars at the moment of deposit. FV Bank is a US-licensed bank based in Puerto Rico where it is… Read More

Starling Bank Adds Bulk Payments for Payroll Support, More

Leading UK digital bank Starling Bank has added a new feature for its users by enabling “Bulk Payments”. The new service is designed to support payroll, supplier payments or employee expenses and more for firms using Starling business banking. The new service is a subscription-based… Read More

Jupiter Fund Management Wants to Sell Stake in Starling Bank: Report

Jupiter Fund Management is interested in parting with its 10% ownership stake in top UK digital bank – Starling Bank, according to a report. Sky News says that Jupiter may sell the shares at over £200 million, perhaps a transaction may entail a discount. The… Read More

Goldman Sachs’ Digital Bank Marcus Said to Delay Checking. Again.

It appears that Marcus by Goldman Sachs (NYSE:GS) is struggling with something so plebeian, like consumer checking. In a day when fewer and fewer people are using physical checks, opting for online payments and tap to pay with their iPhone, Marcus may delay its consumer checking… Read More

Digital Bank Zopa Tops £2 Billion in Deposits

Young digital bank Zopa has surpassed £2 billion in deposits. The bank claims to be one of the fastest challenger banks to top this milestone. Zopa Bank is authorized and regulated by the Prudential Regulation Authority and by the Financial Conduct Authority. Zopa started its… Read More

Digital Bank Varo Bank Submits Comment Letter on Community Investment Act Proposed Amendments

Varo Bank, the first true digital only bank that made it through the rigorous chartering process, has issued a comment letter on a potential change to the Community Reinvestment Act (CRA). The Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation… Read More

Digital Banking: ZA Bank Offers Investment Fund Service

ZA Bank, one of the few approved digital-only banks in Hong Kong, has announced the launch of a new investment fund service. In a company statement, Rockson Hsu, CEO of ZA Bank, stated: “Virtual banks are playing an increasingly important role under the new normal,… Read More

LendingClub Appoints Two New Board Members

LendingClub (NYSE: LC) has appointed Faiz Ahmad and Kathryn Reimann as its newest members of its Board of Directors, effective August 15, 2022. LendingClub also announced that Patricia McCord has decided that she will resign from the Board, effective September 30, 2022. Scott Sanborn, CEO… Read More

Digital Bank Grasshopper Raises $30.4 Million

Grasshopper, a digital bank serving small businesses, including startups, has raised an additional $30.4 million. This brings the total raised to date to $160 million. Grasshopper was approved by the Office of the Comptroller of the Currency for a De Novo charter in May 2019…. Read More

LendingClub Reports Q2 Record Revenue – Rising 61%, Net Income Jumps

  LendingClub (NYSE:LC) has announced Q2 financial results reporting that both top-line revenue and net income are improving. According to the digital bank, Q2 delivered record revenue of $330 million, fueled by interest income along with loan marketplace revenue. Net income was solid at $182.1… Read More

Brazilian Fintech Neon Raises $80 Million in First Credit Card Investment Fund

Neon, a Brazilian Fintech and digital bank, says it has raised $80 million for its first Credit Rights Investment Fund (FIDC). The credit card investment fund is focused on credit cards. Jamil Marques, CFO of Neon, said this 2nd fundraising by Neon endorses the strength… Read More

Starling Bank Reports Profit, Revenue Almost Doubles

Starling Bank, a leading UK digital bank, has reported its first full year profit as overall metrics improve. Anne Boden, founder and Chief Executive of Starling Bank, commented on the results: “With our first full year of profitability, we’ve placed ourselves firmly in a category… Read More

Starling Bank Bails on Irish Bank Application: Report

Starling Bank, a leading digital-only bank in the UK, has abandoned its pursuit of a banking license in Ireland and altered its  European expansion plans. The revelation was first reported by SkyNews that disclosed Starling might alternatively purchase a European bank instead of acquiring a de… Read More

Goldman Sachs Tops Estimates, Raises Dividend to $2.50/Share [u]

Goldman Sachs (NYSE:GS) has beaten analyst estimates reporting Q2 2022 earnings per share of $7.73. At the same time, Goldman raised its dividend to $2.50 a share, a whopping 25% increase over previous amount. The price of Goldman shares increased in pre-market trading. David Solomon,… Read More

BetaBank Selects Finxact to Power Core Banking

BetaBank has selected Finxact, part of Fiserv, to power its product ecosystem, according to a release. BetBank is still working on the regulatory side, having applied for a banking charter earlier this year. BetaBank is said to be working on a fully automated digital lending… Read More

A Less Risky and More Conservative Path: Anchorage Digital CEO Nathan McCauley Discusses Crypto Lending

Anchorage Digital Weathers Crypto Storm Crypto lending and yield platforms have garnered a lot of attention lately due to the troubles at firms like Three Arrow Capital (3AC), Voyager Digital, and Celsius Network. The first two have filed for bankruptcy/liquidation. Celsius remains a bit of… Read More

AgTech: Oxbury Bank Raises £20 Million

“AgTech bank” Oxbury Bank has raised an additional £20 million bringing its total raised to £68 million. Investors include Frontier Agriculture and Hutchinsons Group as well as existing tech investors Hambro Perks and Grosvenor Food & AgTech. Launching in February 2021, Oxbury reports having completed… Read More

Digital Banking: Neon Hires Former Coinbase, Google Exec as CTO

Neon, a Brazilian digital bank, has hired André Madeira as the company’s new Chief Technology Officer (CTO). Madeira has previously worked at Google, Coinbase, and Snap and thus brings considerable experience to his new role. Madeira will be tasked with “transforming Neon into a technology-driven… Read More

ZA Bank, a Hong Kong Digital Only Bank, Uses “Millionaire PowerDraw” to Boost Users

  ZA Bank, one of a handful of regulated digital-only banks in Hong Kong, has announced a new promotion to increase users. ZA Bank has launched “Millionaire PowerDraw” to “bring joy to HongKongers.” The promotion offers a single winner each month HKD 100 million (USD… Read More

Huge Haircut: Klarna to Raise Money at $6.5 Billion, Down from Whopping $45.6 Billion Valuation

  Multiple reports are indicating that Fintech lender and digital bank Klarna will be raising new capital at a $6.5 billion valuation. This is a huge haircut from its last valuation which saw the firm raise money at a whopping $45.6 billion. It was reported… Read More

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