Tagged: digital bank

January 10, 2022 @ 4:47 pm By JD Alois  |  

LendingClub (NYSE:LC), a federally chartered digital bank, will share Q4 results and full-year 2021 performance later this month on January 26, 2022. LendingClub now has a complete year of operating as a digital bank following its acquisition of Radius Bank. LendingClub, once an online lender,… Read More

January 6, 2022 @ 2:56 pm By JD Alois  |  

LendingClub (NYSE:LC) is exiting the yacht lending sector. While most people were probably unaware that Lendingclub provided loans for boats, the digital bank announced this week that yacht lending will no longer be a part of their business. In a blog post, LendingClub CEO Scott… Read More

December 30, 2021 @ 11:10 am By Omar Faridi  |  

Earlier this month, the team at digital bank Zopa made an important update regarding the future of their peer-to-peer business. After 16 years of handling P2P investments at Zopa, the team has taken the decision to close down their retail investing business (something similar to… Read More

December 13, 2021 @ 11:00 pm By Omar Faridi  |  

WeLab, a pan-Asian Fintech platform, has announced the acquisition of PT Bank Jasa Jakarta (BJJ), which is a commercial banking institution based in Indonesia, with plans to introduce its second digital bank in Asia “further to the successful launch of WeLab Bank in Hong Kong.”… Read More

December 9, 2021 @ 9:04 am By JD Alois  |  

Nu Holdings or Nubank, will trade on the New York Stock Exchange today under the ticker symbol “NU”. Nubank, based in Brazil, is one of the most successful digital banks in the world. The pricing gives Nubank a valuation of over $40 billion. The company… Read More

November 30, 2021 @ 9:57 am By Omar Faridi  |  

Credit Suisse (SWX: CSGN) has revealed that the use of its all-digital platform has increased significantly since its launch in October of last year. Although not only about private banking, the numbers shared by Credit Suisse indicate a key trend now that’s taking hold in… Read More

November 22, 2021 @ 11:37 pm By Omar Faridi  |  

The Mobile Banking Benchmark 2021 survey reveals that Hong Kong-based digital banks Mox and Livi stood out as the leading local platforms, though there’s overall a gap between Asian and European service providers. The survey has been carried out by management consulting company Sia Partners… Read More

November 18, 2021 @ 3:38 pm By JD Alois  |  

N26 is exiting the United States. Founded in 2013 and boasting over 7 million customers, N26 is a Germany-based neobank bank that had sought to establish operations in the USA – a market that is home to thousands of small and large traditional banks as… Read More

November 15, 2021 @ 8:52 am By JD Alois  |  

Patriot National Bancorp, Inc. (NASDAQ: PNBK), the parent company of Patriot Bank, N.A., and American Challenger Development Corp. have decided to merge in an attempt to create a “purpose-driven, digital-first national bank,” according to a release. Patriot is a small bank based in Stamford, CT… Read More

November 7, 2021 @ 10:25 pm By Omar Faridi  |  

Hong Kong’s leading digital banking platform, ZA Bank, announced this week that starting from November 4, 2021, new users are able to get their loan application approval results  “instantly via ZA Bank’s official website, enjoying a seamless and convenient digital finance experience.” As mentioned in… Read More

November 3, 2021 @ 8:43 am By Omar Faridi  |  

UK-based digital bank Starling Bank is launching Bills Manager, in order to help clients with settling their bills in a timely manner and better managing their funds. The new feature, one of the “most requested,” offers clients the option to have a Direct Debit or… Read More

November 3, 2021 @ 8:32 am By Omar Faridi  |  

UK’s digital bank Zopa has appointed Graham Robinson as its new Chief Risk Officer. Graham joins Zopa as it “completes its successful first year as a digital bank and sets its sights on further growth,” according to an update shared with CI. With more than… Read More

October 28, 2021 @ 9:06 am By JD Alois  |  

LendingClub (NYSE:LC) reported solid quarterly results yesterday that solidly beat earnings estimates. Earnings per share (EPS) came in $0.26 when estimates were expecting less than half of that. Following the news, shares rallied significantly higher and in pre-market trading, LendingClub shares are currently trading up… Read More

October 27, 2021 @ 4:53 pm By JD Alois  |  

LendingClub (NYSE:LC) has easily topped analyst estimates reporting net income of $27.2 million or an EPS of $0.26. Top line revenue came in at $246.2 million with total sequential revenue growth of 20% outpacing origination growth of 14%, according to the digital bank. Shares in… Read More

October 20, 2021 @ 3:37 pm By JD Alois  |  

It is not just Bitcoin that is hitting new highs. LendingClub (NYSE:LC), once a marketplace lending platform and now a nationally chartered bank, has hit another 52 week high. While Bitcoin is up about 4.28% for the day, LendingClub is doing better showing an increase… Read More

October 20, 2021 @ 9:05 am By JD Alois  |  

FV Bank, a challenger bank and digital asset custodian, has received a strategic investment from NGC Ventures.  The investment and partnership is expected to help drive FV Bank’s expansion throughout Asia. FV Bank said it raised USD $8 million as part of the funding round,… Read More

October 18, 2021 @ 7:13 pm By JD Alois  |  

Zopa, a digital bank that started as a peer-to-peer lender, has raised $300 million (£220 million) in a funding round that reportedly gives the Fintech a $1 billion valuation. The deal is currently in the process of receiving regulatory approvals from UK regulators.  JP Morgan… Read More

October 18, 2021 @ 10:05 am By JD Alois  |  

Digital banking continues to be a hot sector of Fintech as Germany-based N26 has announced a $900 million “record-breaking” funding round at a whopping $9+ billion valuation. The capital infusion was led by Third Point Ventures and Coatue Management, with Dragoneer Investment Group joining as… Read More

October 17, 2021 @ 7:49 pm By JD Alois  |  

RailsPay, an offshoot of Railsbank operating in Australia, has partnered with Parpera to offer its first Banking as a Service (BaaS) product. Parpera is a money management platform for consultations, freelancers, startup founders, and gig-workers. There are an estimated 2.4 million businesses in Australia with… Read More

October 15, 2021 @ 9:54 am By JD Alois  |  

LendingClub (NYSE:LC), a digital bank and online lending platform, has seen its shares print a new 52 week high as markets rally. LendingClub’s shares once trolled the cellar of value trading under $5. Today, the once-moribund equity, has been reanimated and is now trading at… Read More