Tagged: digital bank

March 14, 2021 @ 8:59 pm By Omar Faridi  |  

Digital banking challenger 86 400 reveals that it has received 3 awards from RateCity for its Pay and Save accounts, including the Best Bank Account for the product Pay Account, the Best Regular Savers Account for the product Save Account, and the Best Savings Account… Read More

March 14, 2021 @ 3:59 pm By Omar Faridi  |  

Digital banking challenger Revolut confirms that Spring is in the air and it’s “giving us life!” Revolut writes in a blog post that it has been hard at work on its latest updates for clients, and it’s hoping they “put a spring in your step… Read More

March 10, 2021 @ 4:34 pm By JD Alois  |  

LendingClub (NYSE: LC), an online lender and nascent digital bank, has announced financial results for Q4 2020 and the full year ending December. According to a release, LendingClub’s adjusted net loss was $(22.1) million in the fourth quarter, compared to adjusted net income of $7.0… Read More

March 8, 2021 @ 8:09 am By Omar Faridi  |  

UK-based Fintech challenger Starling Bank has secured £272 million in capital via a Series D funding round led by Fidelity Investments. Starling Bank reported a £1.1 billion pre-money valuation. This latest investment round diversifies Starling’s slate of institutional investors to include some of the largest… Read More

March 4, 2021 @ 11:55 pm By Omar Faridi  |  

Prominent digital bank Revolut is offering the opportunity to get a 1-month trial of the Revolut for Company Grow plan or Revolut for Freelancer Pro plan for free. To take advantage of this offer, users need to upgrade their plan to Company Grow or Freelancer… Read More

March 4, 2021 @ 10:29 am By Omar Faridi  |  

Monzo, a UK based digital bank that recently raised £50 million as part of a Series G extension,  recently explained that it basically offers a mobile banking platform that “puts you in control of your money.” While clarifying whether Monzo is, by definition or legally… Read More

March 4, 2021 @ 8:29 am By JD Alois  |  

Digital bank Revolut is expanding its banking services in 10 new European markets. According to a release, customers in the following countries may now utilize the Revolut banking app: Bulgaria, Croatia, Cyprus, Estonia, Greece, Latvia, Malta, Romania, Slovakia and Slovenia. Revolut, which currently claims over… Read More

March 2, 2021 @ 11:00 am By JD Alois  |  

Marcus executive Omer Ismail has left Goldman Sachs (NYSE:GS) for Walmart (NYSE: WMT), according to a report in Bloomberg. Marcus has emerged as a top digital bank in the US growing rapidly in both users and services provided minus bank branches. The report states that… Read More

February 23, 2021 @ 2:22 pm By JD Alois  |  

Last year, it was reported that Transferwise (recently rebranded as Wise) had been approved in the UK to offer investment services for retail accounts. According to the FCA registry, “TIVN” is approved to offer various retail investment services. At that time, it was expected that… Read More

February 22, 2021 @ 9:14 am By JD Alois  |  

OakNorth Bank says it has completed a £5.6 million loan to convert vacant pub and hotel, Antigallican Hotel, in Charlton into a mixed-use building with 60 studio apartments. The loan was made to Gallican Investments Limited, which is led by the team behind Dandi founded… Read More

February 18, 2021 @ 8:15 am By Samantha Hurst  |  

  Digital banking group Varo Bank announced on Thursday an extensive engagement with Russell Westbrook, nine-time NBA All-Star, NBA MVP, entrepreneur, philanthropist, and designer. Varo Bank reported that Westbrook is now an investor as well as an advisor.  He will have direct input into the future direction… Read More

February 17, 2021 @ 10:33 pm By Omar Faridi  |  

Digital banking platform Revolut has launched a financial app that has been developed specifically for kids. The Fintech app is controlled by the child’s parent or their legal guardian so that they are able to monitor how the tools are being used. This new app… Read More

February 15, 2021 @ 8:55 pm By Omar Faridi  |  

Digital bank Revolut notes that if you’ve set up a WooCommerce store and are accepting payments with mainstream payment gateways, then you might not be happy with the extra transaction fees. Revolut reveals that it has been working on improving this for users by offering… Read More

February 12, 2021 @ 8:25 am By Omar Faridi  |  

During a recently-held online press conference, Bank Negara Malaysia Governor, Datuk Nor Shamsiah Mohd Yunus stated that more than 40 parties have formally expressed their interest with the reserve bank to acquire a digital banking license (by submitting an online application). Malaysia’s virtual banking framework… Read More

February 11, 2021 @ 10:01 am By JD Alois  |  

Monzo, a UK based digital bank that recently raised £50 million as part of a Series G extension, has appointed a new CEO for the United States, according to a report. Monzo has been going through a period of transition as founder Tom Blomfield fully… Read More

February 11, 2021 @ 9:36 am By JD Alois  |  

illimity, a digital bank that claims the title of the first in Italy, is reporting €31 million in net profit for 2020. In 2019, illimity reported a €16.1 million net loss. Corrado Passera, illimity’s CEO, said illimity has fully met the results for the year… Read More

February 10, 2021 @ 11:46 am By Samantha Hurst  |  

  Nordic banking group Nordea recently announced it has updated its plan to fully integrate sustainability into its business strategy with a long-term objective to become a net-zero emissions bank by 2050 at the latest. Nordea revealed in order to become a net-zero emissions bank by 2050, it has… Read More

February 10, 2021 @ 8:23 am By Omar Faridi  |  

The team at Juniper Research, an analyst house focused on digital technology market research and related Fintech trends, technology data, market sizing, and consulting, notes that e-commerce and financial services have become a key part of many consumers’ lives in a post-COVID world. The Juniper… Read More

February 9, 2021 @ 5:36 pm By JD Alois  |  

UK-based Fintech Cashplus has received approval to become a regulated bank after operating as an e-money institution for many years. Cashplus has worked for a couple of years to gain the license and has recently indicated it is now authorized by the Prudential Regulation Authority… Read More

February 8, 2021 @ 10:11 pm By Omar Faridi  |  

Goldman Sachs (NYSE:GS) partner Adam Dell has reportedly stepped down from his role as one of the main professionals working on Marcus, the digital-only bank created by the giant Wall Street investment bank. Dell has left the initiative as Goldman Sachs gets ready for a… Read More