Tagged: digital bank

October 19, 2020 @ 3:40 pm By JD Alois  |  

The United States has one of the most fragmented regulatory environments for financial services in the world. Frequently, a financial service provider will need to adhere to both state and federal rules along with an alphabet soup list of regulators. While the current leadership of… Read More

October 18, 2020 @ 8:36 pm By Omar Faridi  |  

The Philippine National Bank (PNB), one of the largest financial institutions in the country, is reportedly considering the possibility of launching a digital bank as one of its subsidiaries. Jose Arnulfo “Wick” Veloso, president and CEO at PNB, stated: “We’re discussing internally with the principals…. Read More

October 17, 2020 @ 12:25 pm By Omar Faridi  |  

The global digital banking platform market size is expected to reach $10.87 billion by 2027, which means that it’s expanding at about a 13.6% CAGR (compounded annual growth rate), according to estimates from Allied Market Research (AMR). A release that summarizes that findings of the… Read More

October 14, 2020 @ 8:22 pm By Omar Faridi  |  

The global digital banking market demand is expected to reach $12 trillion by 2026, according to a new report. The digital banking market from corporate banking is now on track to expand at an 8% CAGR from 2020 to 2026. This growth may be attributed… Read More

October 13, 2020 @ 8:12 am By Samantha Hurst  |  

UK digital banking group Tandem announced on Tuesday it has appointed Barclays vet and former CEO of Allium, Paul Noble, has been appointed its new Chief Commercial Officer. This news comes less than two months after Tandem acquired Allium.  As previously reported,  Allium notably has… Read More

October 12, 2020 @ 10:13 pm By Omar Faridi  |  

Neobanks have been finding it quite challenging to maintain their competitive deposit rates. During the past few weeks, three Australian neobanks have reduced their rates and two of them have placed limits on the balances on which they’ll pay higher interest. Australia based digital bank… Read More

October 12, 2020 @ 3:04 pm By Samantha Hurst  |  

Temenos (SIX: TEMN), a banking software company, announced on Monday its Temenos Transact has been selected by FlowBank, a Swiss fintech startup, to power its new digital bank. Temenos reported that Temenos Transact core banking technology will enable FlowBank to launch and offer a new… Read More

October 10, 2020 @ 10:58 pm By Omar Faridi  |  

VEON Ltd. (NASDAQ: VEON) (Euronext Amsterdam: VEON), an established multinational provider of connectivity and various digital services, has revealed that Mobilink Microfinance Bank Ltd (MMBL), which is part of Pakistan’s mobile operator Jazz, has been awarded “the Best MicroFinance Bank (Digital) of the Year Award”… Read More

October 10, 2020 @ 12:46 pm By Omar Faridi  |  

Bryan Carroll, CEO at TNEX, which claims to be Vietnam’s first all-digital bank to offer “free everyday banking for life,” has confirmed that TNEX is now ready to officially launch its services. Carroll revealed that the TNEX platform is now in its final testing phase…. Read More

October 10, 2020 @ 9:18 am By Omar Faridi  |  

Italy-based Enel will soon be the first of Europe’s major utilities providers to introduce a digital banking platform this month. According to Reuters, the virtual bank will let customers open a new current account by using the debit card they use to settle their energy… Read More

October 8, 2020 @ 8:57 am By JD Alois  |  

Monument Bank has received regulatory approval this week to operate under a restricted license receiving a green light from the Financial Conduct Authority and Prudential Regulation Authority. Monument Bank seeks to cater to the affluent providing a service that is just a click away as… Read More

October 7, 2020 @ 10:00 pm By Omar Faridi  |  

Abu Dhabi’s ADQ is reportedly planning to launch a digital banking platform. ADQ, which operates as a state-managed holding firm, confirmed that it will establish a virtual bank in the United Arab Emirates (UAE). As reported by Reuters, the ADQ said it would be using… Read More

October 7, 2020 @ 4:57 pm By Omar Faridi  |  

NAGA Group (XETRA: N4G), a Germany-based social trading-focused brokerage firm, reported its financial results on October 5, 2020, for Q3 2020. The NAGA Group claims that it generated record sales and trading volume. The company’s sales volume reportedly increased by 506% year-on-year to €7.1 million… Read More

October 7, 2020 @ 1:29 pm By Omar Faridi  |  

Almost 80% or four out of five banks had claimed that they don’t have the technology required to offer the best customer experience. This, according to Forrester’s Global Financial Services Architecture Survey Q3 2019. Forrester had noted that banks should consider looking into digital banking… Read More

October 6, 2020 @ 11:27 pm By Omar Faridi  |  

Razer Fintech’s parent company is reportedly backed by a cash balance of more than $500 million and has zero debt. Headquartered in Singapore, Razer Fintech plans to launch a global “youth bank.” The company’s management is currently laying the foundation and making other necessary preparations… Read More

October 5, 2020 @ 11:31 pm By Omar Faridi  |  

AsiaMoney Magazine has selected Qatar’s Commercial Bank as the nation’s “Best Digital Bank” for 2020. Commercial Bank’s management noted: “Spearheading the digital innovation scene in the country, and more particularly in the financial and banking sector, Commercial Bank never ceases to launch state-of-the-art banking services… Read More

October 5, 2020 @ 12:48 pm By JD Alois  |  

Digital bank Starling has announced the launch of online banking for its personal and joint bank account customers. The new online portal will allow Starling Bank’s customers to manage their money from their desktop or laptop as well as their smartphones. Previously, Starling had been… Read More

October 2, 2020 @ 5:24 am By Omar Faridi  |  

Distribution Finance Capital (DF Capital), a lender that provides various working capital solutions to UK based businesses, has reportedly been granted a full banking license from the Prudential Regulation Authority (PRA). The company is planning to launch a new digital bank, which will focus on… Read More

October 1, 2020 @ 9:38 pm By Samantha Hurst  |  

Less than two weeks after launching its equity crowdfunding campaign on Seedrs, FCA authorized e-Money Institution Ziglu has successfully secured nearly £2.4 million from more than 800 Seedrs investors. Founded in 2018 by former Starling Bank CTO Mark Hipperson, Ziglu states it has built a… Read More

September 30, 2020 @ 3:23 pm By Samantha Hurst  |  

Alkami Technology, Inc. (Alkami), a cloud-based digital banking solutions provider for banks and credit unions, announced on Tuesday it secured $140 million through its latest investment round, which was led by D1 Capital Partners. As previously reported, Alkami was founded in 2009 and provides a… Read More