Tagged: digital bank

June 7, 2021 @ 4:17 pm By Priyanka Pani  |  

American Challenger bank and personal finance app Dave has announced that it plans to go public through a merger with a blank-check firm sponsored by investment firm Victory Park Capital. With this, the banking app’s valuation has ballooned to $4 billion amidst a pandemic that… Read More

June 6, 2021 @ 9:39 am By Omar Faridi  |  

The team at digital bank Revolut notes that being able to work effectively in a digital environment is very important for small businesses. After a year that challenged many SMEs globally to adapt and become more flexible due to the COVID outbreak, everything from customer… Read More

June 2, 2021 @ 9:08 pm By JD Alois  |  

Volt, an Australian digital banking service, has partnered with Australian Finance Group Ltd (ASX:AFG) – a large mortgage aggregator. The partnership with Volt is a significant sign of confidence for the emerging Fintech. Simultaneously, Volt has extended its Series E funding round. According to a… Read More

June 2, 2021 @ 7:47 am By Omar Faridi  |  

UK-based digital bank Starling has been accredited by the British Business Bank as a lender under the government-backed Recovery Loan Scheme (RLS), which is the successor to the Coronavirus Business Interruption Loan Scheme (CBILS). Starling had previously been approved as a lender under the initial… Read More

May 31, 2021 @ 4:44 pm By Omar Faridi  |  

Digital banking Unicorn Revolut reveals that May 2021 could potentially have been its best month ever in terms of product updates and overall progress. The Revolut team notes in a blog post that they introduced Version 8.0 of their Fintech app which added new Gift… Read More

May 27, 2021 @ 10:29 pm By JD Alois  |  

Airstar, one of a select few digital banks approved by Hong Kong regulators, has announced SME banking services. AirStar states that following its launch in the summer of 2020 it has experienced a steady increase of both deposit accounts and loan customers and it is… Read More

May 27, 2021 @ 7:57 am By Omar Faridi  |  

As Fintech companies become a lot more profitable, traditional banks are trying to counter their business strategy with branded digital-only subsidiaries. Fintech firms are getting ready to approach their next “maturity milestone” – profitability – as they showed great resilience during the COVID outbreak, with… Read More

May 25, 2021 @ 2:09 pm By Omar Faridi  |  

Open Banking is about giving users better control over their banking information. Instead of your bank hoarding the details regarding your transactions and account, users are able to decide how and when they want to share these details with other financial services providers and other… Read More

May 24, 2021 @ 1:27 am By Omar Faridi  |  

ZA Bank and Mox are reportedly leading Hong Kong’s digital bank market,  accounting for around 70% of all virtual banking customer deposits (as of the end of last year). This, according to a report from Reuters that referenced annual reports from banks in the city…. Read More

May 23, 2021 @ 11:23 pm By Samantha Hurst  |  

  Polaris Bank, a Nigeria-based retail bank, recently announced it launched its own digital banking platform called VULTe. according to Polaris, VULTe’s products and services are designed to help customers’ lifestyles as individuals and make their business become “bigger and better.” Polaris revealed: “At VULTe,… Read More

May 21, 2021 @ 8:18 am By Samantha Hurst  |  

  UK-based digital banking group Starling Bank announced this week it secured a £50 million investment from Goldman Sachs Growth Equity. According to Starling Bank, the investment is an extension of the oversubscribed £272 million Series D funding round announced in March 2021, which valued it in… Read More

May 21, 2021 @ 7:56 am By Omar Faridi  |  

Revolut Business revealed on Friday (May 21, 2021) that it’s introducing currency forward contracts (FX Forwards) in the United Kingdom. Revolut Business’ FX Forwards will allow firms of any size – from large corporates to single-person businesses – to set future exchange rates via an… Read More

May 17, 2021 @ 2:29 am By Omar Faridi  |  

The Land Bank of the Philippines has introduced its digital onboarding platform for its clients so they can easily open up a savings account without being required to visit a physical bank location. The State-managed banking institution unveiled its digital onboarding system, called DOBS Mobile,… Read More

May 16, 2021 @ 3:04 pm By Omar Faridi  |  

Digital bank Monzo has introduced new and improved invoices on Business Pro. The team at Monzo notes that they’ve made in-app invoicing “better” in order to give users more time “for what really matters (like running your business, being with family, or queuing for an… Read More

May 16, 2021 @ 2:38 pm By Omar Faridi  |  

Digital bank Revolut says your account has had “a spring clean.” Revolut Business has a “new look” and a more “personalized” experience. The Revolut team writes in a blog post: “We’ve updated our Revolut Business web app and the new, simpler navigation makes it easier… Read More

May 16, 2021 @ 2:25 pm By Omar Faridi  |  

UK-based digital bank Starling notes that their overdraft can serve as a short-term “safety net” for eligible or qualified personal customers. The Starling Bank team writes in a blog post that if you don’t have enough funds in your account to cover essential payments or… Read More

May 12, 2021 @ 10:17 pm By Omar Faridi  |  

livi bank, which is notably one of Hong Kong’s eight digital banks, is now offering a Buy Now, Pay Later (BNPL) service with the introduction of livi PayLater that provides an instant installment option along with a virtual Mastercard debit card. The livi PayLater BNPL… Read More

May 11, 2021 @ 10:32 pm By Omar Faridi  |  

Mobiquity, a digital transformation enabler, has teamed up with Kuwait International Bank (KIB), in order to support the institution’s goal of becoming a leading all-digital Islamic or Shariah-compliant financial service provider. Through the partnership, KIB will be working with Mobiquity’s team of experienced professionals –… Read More

May 7, 2021 @ 10:45 am By JD Alois  |  

When is a bank a bank? While this is a great debate for regulators and existential philosophers, for most people it simply has to do with holding money securely and using it when you want. For years now, Fintechs that have provided bank-like services have… Read More

May 4, 2021 @ 8:00 am By Omar Faridi  |  

PostFinance, the financial services division of Swiss Post, has teamed up with Swissquote in order to launch a digital banking app, called Yuh. The Fintech app will be available to the public on May 11, 2021. PostFinance and Swissquote had first announced plans to work… Read More