Tagged: digital bank

October 9, 2024 @ 8:34 am By Omar Faridi  |  

UK’s digital bank Monzo has injected €4m in capital into its new Irish division. The update comes just several months following Monzo’s CEO,  TS Anil, stating that the Fintech firm was in the process of establishing its EU offices in Ireland. At the time of… Read More

September 24, 2024 @ 5:52 pm By JD Alois  |  

Digital bank bunq has launched stock trading. Based in the Netherlands, bunq holds a full banking license and regulated by the Dutch Central Bank. While announcing trading, bunq is now reporting over 14.5 million users. According to a company statement, bunq is currently providing a curated… Read More

September 24, 2024 @ 10:28 am By Omar Faridi  |  

Nasdaq (Nasdaq: NDAQ) announced it has expanded its digital bank financial technology presence in Latin America, having agreed to provide its AxiomSL regulatory reporting solution to Nubank (NYSE: NU), a digital bank with over 100 million customers across Brazil, Mexico, and Colombia. The agreement extends… Read More

September 24, 2024 @ 8:07 am By Omar Faridi  |  

Revolut is reportedly introducing a standalone app based on its wealth management offering as Europe’s leading Fintech aims to challenge major competitors like Robinhood as well as Etoro in the retail investor sector. The Revolut Invest app will provide over 4,000 financial instruments, including from… Read More

September 23, 2024 @ 11:00 am By Omar Faridi  |  

Revolut, the global financial technology company has announced it has reached ten million customers in the UK. Revolut’s largest market, and where the company was “founded in 2015 has added nearly two million UK customers so far in 2024 and continues to grow.” Revolut has… Read More

September 22, 2024 @ 7:32 pm By Omar Faridi  |  

OakNorth, the digital bank for entrepreneurs, by entrepreneurs, has completed a £2m Revolving Credit Facility to Spy Alarms, an electronic security and fire system services business which installs, maintains and monitors intruder alarms, CCTV, fire safety systems and access control systems. The business was founded… Read More

September 21, 2024 @ 12:33 pm By Omar Faridi  |  

Nubank (NYSE: NU) announces the signing of agreements with the states of Rio de Janeiro and Minas Gerais to expand the offering of payroll loans. With these two new contracts, the company reaches a “total of 11 agreements and expands its total addressable market (TAM)… Read More

September 20, 2024 @ 8:20 pm By Michael Wong  |  

Lighthub Asset, a Thai Fintech firm, and WeLab, a pan-Asian fintech platform, have submitted a joint application for a virtual banking license with the Bank of Thailand (BoT). The result of the application is expected in the first half of 2025, according to a statement… Read More

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