Tagged: digital bank

May 20, 2020 @ 11:13 pm By Omar Faridi  |  

Artificial Intelligence firm, AnalytixInsight Inc. (TSX-V: ALY; OTCQB: ATIXF) recently revealed that it’s expecting its Fintech affiliate, MarketWall, to benefit from the new trend toward the increased use of digital channels, due to the COVID-19 outbreak. AnalytixInsight says that its analysis is based on Intesa… Read More

May 20, 2020 @ 11:01 pm By JD Alois  |  

Monzo founder Tom Blomfield has exited the CEO role at the digital bank and will now become President of the company according to multiple reports. The current US CEO TS Anil is said to become the new “UK Bank CEO” according to Techcrunch. Anil is… Read More

May 18, 2020 @ 10:12 pm By Omar Faridi  |  

Digital banking services are increasingly being adopted in the Asia Pacific (APAC) region. The use of all-digital banks and platforms is expected to increase further in the coming years. This, as 63% of consumers responding to a recent survey said they’d be willing to switch… Read More

May 18, 2020 @ 9:01 am By Omar Faridi  |  

C.C. Puan, the CEO at Packet One Networks (P1), a major wireless broadband provider focused on becoming an established mobile telecom by making access to the Internet a great experience for Malaysian residents, is planning to acquire a digital banking license. Puan remarked: “Getting the… Read More

May 16, 2020 @ 12:45 pm By Omar Faridi  |  

UK-based digital bank Monzo is reportedly planning to acquire additional capital at a 40% discount on its previous valuation. It was reported in December that Monzo was seeking to raise an additional £100 million but it appears the Coronavirus has impacted the funding round. As… Read More

May 16, 2020 @ 12:32 pm By Omar Faridi  |  

US-headquartered nCino, an established cloud banking provider, has teamed up Sweden’s small business lender, Yourban, in order to support SME lending via the nCino Bank Operating System. Through the partnership, Yourban will be using a system that has been configured to meet the bank’s requirements…. Read More

May 14, 2020 @ 3:20 pm By Samantha Hurst  |  

UK challenger bank Monzo announced on Wednesday it has moved its Faster Payments connection in-house. The digital banking group revealed that the decision to shift in-house was due to the problems making and receiving bank transfers last May. Monzo reported: “At the time of the… Read More

May 14, 2020 @ 12:39 pm By JD Alois  |  

Starling Bank, a leading UK digital bank, has been moving rapidly to implement COVID-19 business relief programs authorized by the UK government. Starling is the first Fintech to be approved as a Bounce Back Loan (BBLS) provider and, earlier this week, Starling and Funding Circle… Read More

May 14, 2020 @ 7:41 am By Omar Faridi  |  

Germany-based neobank Bitwala will allow its 80,000+ customers to buy, hold, and earn interest on Bitcoin through their bank accounts. Bitwala’s new cryptocurrency service is being offered through a partnership with the developers of the Celsius Network, a major digital assets lending platform. DefiPrime data… Read More

May 12, 2020 @ 5:45 pm By Omar Faridi  |  

Australian digital bank UBank has made significant changes to its bank account products. UBank, which is owned by the National Australia Bank (one of the four largest financial institutions in Australia), confirmed on May 11, 2020 that it will be simplifying its digital product offerings,… Read More

May 12, 2020 @ 10:47 am By JD Alois  |  

Starling Bank, a UK based digital bank, has shared that during the first day and half of availability the Fintech paid out £90 million in Bounce Back Loans. The bank also made a total of £120 million in offers for these loans. Simultaneously, Starling Bank… Read More

May 12, 2020 @ 7:34 am By Omar Faridi  |  

UK-based digital bank Revolut, which was most recently valued at $5.5 billion, has reportedly laid off around 60 workers, as the COVID-19 outbreak appears to have negatively impacted the firm. Nikolay Storonsky, the Russian  CEO at Revolut, announced the layoffs on May 11, 2020, according to… Read More

May 11, 2020 @ 9:57 pm By Omar Faridi  |  

India-based digital bank RazorPay announced on May 11, 2020 that it’s planning to recruit more staff members for key positions across its engineering and product design teams. As previously reported, the banking challenger had revealed that there had been a significant increase in the number… Read More

May 11, 2020 @ 6:20 pm By Omar Faridi  |  

The COVID-19 crisis has significantly reduced the revenue generated by some of the largest banks in Australia. The pandemic may present opportunities to banking challengers such as 86 400 to gain market share. As the nation’s Big Four banks try to deal with a dramatic… Read More

May 10, 2020 @ 9:02 pm By Omar Faridi  |  

Switzerland-based UBS Group AG (SWX: UBSG), a global investment bank and financial services firm with around $1 trillion in assets, recently confirmed that it is planning to launch a digital banking platform that would reduce operational costs and stimulate growth. However, UBS said its plan… Read More

May 8, 2020 @ 9:53 pm By Samantha Hurst  |  

Australia-based SME challenger bank Judo Bank announced on Thursday it raised $250 million through its latest equity at a post-money valuation to more than $1 billion, which the bank reports has lifted it into an exclusive club of local unicorns and showing the support of… Read More

May 8, 2020 @ 7:46 am By Omar Faridi  |  

Sweden-based banking challenger Rocker has reportedly chosen Enfuce, a Finland-headquartered Fintech firm, as its official card issuing and payment processing partner. The move should streamline processes involving the issuance of Visa prepaid cards. The news has come after Rocker (previously operating as Bynk) introduced a… Read More

May 7, 2020 @ 9:56 am By Omar Faridi  |  

German Fintech Finleap‘s proprietary platform, Finleap Connect, has introduced a white-label mobile banking app that businesses can quickly launch with their own company name and  branding. Finleap’s virtual banking app allows users to maintain an all-digital account, which may be used to conduct e-commerce transactions… Read More

May 6, 2020 @ 7:52 pm By Omar Faridi  |  

Singapore-based digital security firm V-Key announced on May 5, 2020, that it will be the official mobile security partner of TONIK Bank, which is an all-digital bank that is expected to launch in the Philippines later this year. V-Key will aim to offer a secure… Read More

May 6, 2020 @ 6:02 pm By JD Alois  |  

Co-Founder of the UK’s 1 st Digital Bank Atom Bank, has joined DayTek Capital in Australia as Chief Technology Officer. Paul Hanks, who was previously CTO at Atom Bank, is joining DayTek as the firm “gears up to launch ‘Infinity’, a unique, product disruptive, Australian… Read More