Tagged: digital bank

August 24, 2020 @ 9:19 am By Samantha Hurst  |  

  UK digital banking group Tandem has acquired “green” lender Allium for  £60 million, Mortgage Finance Gazette reports.  According to the media outlet, Tandem purchased the Allium platform to boost its environmental credentials. Allium notably has a very “clear” focus on lending to improve homes… Read More

August 24, 2020 @ 9:03 am By JD Alois  |  

Zopa, a digital bank and online lender, has published the interest rates affiliated with its savings accounts. According to a note from the Fintech, savers may generate interest from 1.05% to 1.3% – depending on the term. Zopa’s Fixed Term Savings accounts are available today… Read More

August 22, 2020 @ 2:21 pm By Omar Faridi  |  

Australia based Parpera, a Fintech firm that’s focused on developing a digital ​banking solution for business owners and freelance or gig economy workers, has opened shares for trading with Equitise, an equity crowdfunding platform. Established by former EY management consultant Daniel Cannizzaro, Parpera shares are… Read More

August 19, 2020 @ 7:58 am By JD Alois  |  

Digital bank Revolut has launched a new feature called “Group Bills” described as a way to track, split and settle up expenses in a centralised place.  Group Bills seeks to make group expenses easier to manage. Rather than splitting one bill at a time, Group… Read More

August 17, 2020 @ 7:26 am By Omar Faridi  |  

Standard Chartered Plc, a British multinational banking and financial services company with over $700 billion in total assets, is reportedly getting ready to introduce its second all-digital bank in Asian markets. Standard Chartered will be partnering up with a division of Singapore’s largest labor union,… Read More

August 15, 2020 @ 12:43 pm By Omar Faridi  |  

Greek payments firm Viva Wallet is reportedly planning to secure €500 million in capital to support its virtual banking business, according to Reuters which cited two sources familiar with the matter. As reported, Viva Wallet officially acquired the banking license of Praxia Bank after the… Read More

August 15, 2020 @ 11:46 am By Omar Faridi  |  

WeLab Bank recently confirmed the public launch of its digital banking services. It’s notably the only stand-alone firm to acquire a virtual bank license from the Hong Kong Monetary Authority (HKMA), the city-state’s de facto central bank that’s also responsible for promoting the efficiency, integrity… Read More

August 11, 2020 @ 11:19 am By JD Alois  |  

Revolut, a leading UK based digital bank, filed its annual report yesterday indicating that for the fiscal year 2019 revenue jumped alongside a growing annual loss. According to the Fintech, in 2019, revenue nearly tripled to £162.7 million vs. £58.2 million in 2018. The operating… Read More

August 11, 2020 @ 7:55 am By Samantha Hurst  |  

Standard Chartered Bank announced on Monday it has formed a three-year strategic partnership with Microsoft to accelerate its plans to become a cloud-first bank. Standard Chartered reported that the partnership makes a significant milestone for its virtual banking, next-generation payments, open banking, and banking-as-a-service efforts…. Read More

August 9, 2020 @ 10:18 pm By Samantha Hurst  |  

  Nude, a home savings app, is set to close its equity crowdfunding campaign on Seedrs with more than £3.53 million raised from over 780 Seedrs investors. As previously reported, Nude describes itself as a savings account and financial friend for first-time home buyers. The… Read More

August 9, 2020 @ 12:00 pm By Omar Faridi  |  

Bangko Sentral ng Pilipinas (BSP), the central bank of the Philippines, is reportedly open to exploring potential investment deals from Qatar. According to a BSP representative, these deals will focus on digital banking and Fintech projects. Arifa A Ala, the MD at BSP, noted that… Read More

August 8, 2020 @ 10:17 am By Omar Faridi  |  

Customers Bank, which offers personal and business banking solutions, including checking, money markets, savings, mortgages, loans, and cash management, has reportedly agreed to sell its BankMobile Technologies division to Megalith Financial Acquisition Corporation (NYSE:MFAC). BankMobile Technologies is an established US-based digital banking platform. Meanwhile, MFAC… Read More

August 7, 2020 @ 1:52 am By Omar Faridi  |  

UOB Indonesia has introduced TMRW, its virtual bank to serve the local market as part of its strategy to accelerate growth of its business operations in the region. The launch of the digital bank has come after UOB established its business in Thailand in 2019…. Read More

August 4, 2020 @ 10:22 pm By Omar Faridi  |  

Australia based DayTek Capital, a company focused on establishing a digital bank, has reportedly been awarded a financial services license by regulators in the country. Headquartered in Queensland, the new digital bank, called Infinity, has joined several other Australian banking challengers, which include Xinja Bank,… Read More

August 4, 2020 @ 7:37 am By JD Alois  |  

Revolut has partnered with TrueLayer, a financial service API provider, to incorporate open banking features in Italy. According to a release issued by the digital bank, Revolut customers in Italy will now be able to connect their Intesa Sanpaolo, UniCredit, UBI Banca, Banco BPM, Poste… Read More

August 3, 2020 @ 3:18 pm By Samantha Hurst  |  

U.S. banking group BankMobile announced on Monday it has teamed up with Google to introduce digital bank accounts to its customers. According to BankMobile, the digital checking account will be built on top of BankMobile’s existing banking infrastructure and the accounts will be FDIC-insured, with… Read More

August 3, 2020 @ 12:16 am By Omar Faridi  |  

WeLab Bank has confirmed the public launch of its digital banking services. WeLab Bank is notably the only stand-alone firm to acquire a virtual bank license from the Hong Kong Monetary Authority (HKMA), the city-state’s de facto central bank that’s also responsible for promoting the… Read More

August 2, 2020 @ 9:49 pm By Omar Faridi  |  

Laura Whateley, a real money management correspondent at Zopa, a Fintech lender and digital bank, notes that at the beginning of the COVID-19 pandemic, it wasn’t really clear how our finances would be affected, and that might still be the case for many individuals and… Read More

August 2, 2020 @ 9:30 pm By Omar Faridi  |  

Stuart Sopp, founder and CEO at digital bank Current, has previously noted that the COVID-19 outbreak has shown how his company serves employees whose roles are considered essential during the global pandemic. In June 2020, Sopp had confirmed that Current would remain focused on spending,… Read More

July 30, 2020 @ 4:20 pm By JD Alois  |  

Losses at UK based digital bank Monzo continue to mount, according to a report. Monzo is said to have generated £113.8 million in losses versus year prior losses of £47.1 million. Simultaneously, top-line revenue rose to £67.2m from £19.7m for the fiscal year-end February, according… Read More