Tagged: digital bank

March 17, 2020 @ 3:23 pm By Omar Faridi  |  

Liv, the digital banking division of Emirates NBD, a Dubai government-owned banking institution and one of the largest financial institutions in the Middle East, is planning to provide customers instant access to their credit scores, with just a single click. The Al Etihad Credit Bureau… Read More

March 17, 2020 @ 10:59 am By Omar Faridi  |  

Three major Australian neobanks have slashed their interest rates by 0.25% during the past few days, following the decision taken this month by the nation’s reserve bank to reduce rates. 86 400 was reportedly the first Australian digital bank to reduce the maximum interest rate… Read More

March 17, 2020 @ 7:32 am By Omar Faridi  |  

Leading digital bank Revolut has been rolling out new features for its digital banking platform. The bank recently introduced new features that allow users to earn cashback or avail special discount offers when they spend. Revolut has also launched a new gold trading service for… Read More

March 16, 2020 @ 9:02 am By Omar Faridi  |  

Two major Fintech companies, Aion Digital and Qarar, are teaming up in order to accelerate the growth and development of online lending platforms across the Middle East region. According to a press release, the collaboration between the two Fintechs aims to “revolutionize the credit market”… Read More

March 16, 2020 @ 7:28 am By Omar Faridi  |  

Fintech unicorn Revolut is now allowing its Premium and Metal customers to purchase and sell gold from directly within its app. Gold has recently risen in price as investors have sought safe havens from the COVID-19 driven market crash. The app’s users can get exposure… Read More

March 15, 2020 @ 2:17 pm By Omar Faridi  |  

Earlier this month, the AMTD Group, a financial services group established by CK Hutchison (a Cayman Islands–registered global conglomerate based in Hong Kong that focuses on ports and related services, retail, infrastructure, energy, and telecommunications, and operates in more than 50 countries), revealed that it’s… Read More

March 14, 2020 @ 4:33 pm By JD Alois  |  

Yapeal, an aspiring digital bank based in Zurich, has received the very first Fintech license in Switzerland. In 2019, the Swiss Parliament introduced the Fintech license enforced by the Financial Market Supervisory Authority (FINMA). The requirements for Fintech companies are based on the established auditing… Read More

March 14, 2020 @ 11:23 am By Omar Faridi  |  

Two Fintech companies are teaming up to develop a new banking service for young people living in Saudi Arabia, who may prefer to make cashless payments from their mobile devices. Digital Bank challenger Moven, which was established by Brett King in 2010, will be partnering… Read More

March 13, 2020 @ 9:37 am By Omar Faridi  |  

TBC Bank Group PLC, a Georgian bank headquartered in Tbilisi, Georgia, announced on March 12, 2020 that it will be expanding its digital banking services to Germany, in order to take advantage of the leading European nation’s progressive environment for new businesses. The Space digital… Read More

March 10, 2020 @ 9:55 am By JD Alois  |  

Credit Sesame, a personalized credit service and financial wellness company, is morphing into a bank. And why not? While traditional banks struggle to pay for the real estate they own, Fintechs are providing a more diverse portfolio of financial services minus the need to queue… Read More

March 10, 2020 @ 9:30 am By JD Alois  |  

Fintech Zopa is celebrating 15 years of operation. Founded in 2005, Zopa was the one platform to launch an entire sector of Fintech as it became the first peer to peer lending platform in the UK. Today, Zopa still offers online lending in a more… Read More

March 10, 2020 @ 7:21 am By Omar Faridi  |  

Standard Chartered, a British multinational banking and financial services company with over $700 billion in total assets, has revealed the new brand name, brand identity, and official website for Mox, the institution’s newly developed digital bank. Digital bank Mox’s brand name aims to reflect a… Read More

March 8, 2020 @ 10:00 pm By JD Alois  |  

Aspiring digital bank Hay has selected Mambu to power its platform as a full service neobank. According to a note from Mambu, Hay will its API based core banking platform to provide financial services in Australia. Hay opened up its waitlist for a digital transaction… Read More

March 8, 2020 @ 7:00 pm By Omar Faridi  |  

In June 2020, Singapore’s regulatory authorities will be issuing operational licenses to three new wholesale neobanks in order to provide better services to underbanked small-and-medium-sized enterprises (SMEs).  The Monetary Authority of Singapore (MAS) confirmed in mid-2019 that it would begin accepting applications for five new… Read More

March 8, 2020 @ 11:04 am By Omar Faridi  |  

Monett-headquartered Jack Henry and Associates has revealed that its banking division will be launching JHA BankAnywhere, a cloud-powered digital banking software developed on a proven core technology platform. JHA provides more than 300 products and services to about 9000 customers to process financial transactions. Customers… Read More

March 7, 2020 @ 4:48 pm By Omar Faridi  |  

The Philippines, an Asian country with a GDP of over $300 billion and a population of more than 100 million, is preparing to welcome its first all-digital bank, Tonik Financial, which was established in Singapore in 2018. Tonik has acquired a banking license from the… Read More

March 7, 2020 @ 9:23 am By Omar Faridi  |  

The global neo and challenger bank market is projected to reach a valuation of approximately $578 billion by 2027, at a compounded annual growth rate (CAGR) of about 46.5% from 2019 to 2027. This, according to a recent report from Facts and Factors Market Research,… Read More

March 6, 2020 @ 5:30 pm By JD Alois  |  

Digital challenger bank Chime filed an amended Form D with the Securities and Exchange Commission (SEC) this week indicating its most recent funding round has moved a touch higher.  According to the filing, Chime has now raised $700 million from 25 investors. The date of… Read More

March 5, 2020 @ 10:15 pm By Omar Faridi  |  

Bank Negara Malaysia (BNM) has released an updated exposure draft, which covers the licensing guidelines for all-digital banks. The draft from the nation’s central bank proposes a simplified set of regulations for neobanks. Bank Negara officials noted that the simplifications intend to reduce regulatory pressure… Read More

March 5, 2020 @ 1:16 pm By Omar Faridi  |  

Brazil-based neobank Nubank is reportedly planning to introduce an annual commission-free Nu credit card to customers in Mexico. There’s already a waitlist of 30,000 potential users, according to TechCrunch.  Mexico was notably the first major market that Nubank expanded to outside of its headquarters in… Read More