Tagged: digital bank

December 7, 2022 @ 11:34 am By JD Alois  |  

Digital bank Zopa has distributed a note that they are “bucking the trend” and raising entry-level pay by around 20% as other firms are letting people go. Starting pay for entry-level positions now commences at £27,000 – an amount that Zopa states is 25% a… Read More

December 7, 2022 @ 10:43 am By JD Alois  |  

Popular digital bank Starling Bank has announced new virtual cards along with features that can be incorporated into the tech. Starling Bank said that virtual cards are now available for Personal Current Account customers and updated its Spending Insights. The features add to the bank’s… Read More

December 5, 2022 @ 11:49 pm By Omar Faridi  |  

Tonik Financial Pte. Ltd., the parent company of Tonik Digital Bank, Inc. in the Philippines, has entered into a landmark agreement with Tendo Payment Solutions Pte. Ltd. in order “to acquire its Philippine business, operating under the brand name ‘TendoPay’.” This deal, which is “subject… Read More

November 23, 2022 @ 9:03 am By JD Alois  |  

Wise (LON:WISE) has been integrated into the digital banking firm in Hong Kong ZA Bank. According to a note from ZA bank, the partnership between the two firms is the first bank in Hong Kong to provide money transfers with no exchange rate mark up…. Read More

November 7, 2022 @ 11:28 am By Omar Faridi  |  

BankWise Technology, a Saratoga Springs developer of  custom programming for banks, announced that it has “provided the system development, integration, and support for the nation’s first wearable payment ring launched by digital bank, Quontic.” The Quontic Pay Ring is described as “an innovative payment technology… Read More

November 3, 2022 @ 9:28 am By Omar Faridi  |  

Challenger bank, Tandem, has announced the launch of its new ‘Tandem Marketplace’, a consumer-focused hub which “provides key information and resources to help promote greener living.” With an aim to be the UK’s greener digital bank, Tandem is “focused on supporting its customers to make… Read More

October 26, 2022 @ 5:59 pm By JD Alois  |  

LendingClub (NYSE: LC), one of the few federally chartered digital banks, has reported Q3 2022 earnings. The Fintech states that total net revenue during the quarter came in at $304.9 million, growing by 24% year over year, driven by growth in net interest income. Alongside… Read More

October 20, 2022 @ 10:27 am By JD Alois  |  

Digital bank N26, based in Germany, will soon offer cryptocurrency trading to its account holders. According to a Tweet, Austria will be the first country to allow an account holder to trade digital assets with other European countries coming soon. The crypto trading services will… Read More

October 17, 2022 @ 10:23 am By JD Alois  |  

A day before Goldman Sachs (NYSE:GS) will post its Q3 earnings, a report has been distributed indicating Goldman will pursue a major overhaul of the structure of the banking firm. According to WSJ.com, investment banking and trading will now be a single division, asset and… Read More

October 16, 2022 @ 3:55 pm By JD Alois  |  

ICICI Bank says it has launched four digital banking units, or DBUs. ICICI Bank is a leading private sector bank in India with a market cap of around $74 billion. According to the Bank, its launch of these DBUs aligns with the government’s plan to… Read More

October 3, 2022 @ 11:44 am By JD Alois  |  

Chetwood Financial, a UK based digital bank that garnered a banking license in 2018, has announced a partnership with Mumsnet, a parenting forum. According to a statement issued by Chetwood Financial, it plans to launch a new family-focused financial services proposition next year. In partnering… Read More

September 21, 2022 @ 9:31 pm By JD Alois  |  

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

September 7, 2022 @ 10:05 am By JD Alois  |  

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

August 28, 2022 @ 9:37 pm By JD Alois  |  

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

August 25, 2022 @ 4:35 pm By JD Alois  |  

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

August 25, 2022 @ 9:13 am By JD Alois  |  

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

August 15, 2022 @ 6:20 pm By JD Alois  |  

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

August 8, 2022 @ 9:34 am By JD Alois  |  

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

August 2, 2022 @ 5:37 pm By JD Alois  |  

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

August 1, 2022 @ 10:40 am By JD Alois  |  

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