Tagged: digital bank

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

March 5, 2020 @ 10:17 am By Omar Faridi  |  

A recent study published by Juniper Research claims that by 2024, the number of digital banking customers will surpass 3.6 billion, which would be a significant 54% increase from the current 2.4 billion users in 2020. This considerable growth has been attributed to the steady… Read More

March 5, 2020 @ 7:24 am By Omar Faridi  |  

Billionaire Richard Branson’s Virgin Money, a major financial services brand used by three independent brand-licensees based in Australia, South Africa and the UK, is teaming up with Deloitte Digital and Temenos, a Switzerland-based banking software company.  Through the partnership, Virgin Money plans to establish a… Read More

March 4, 2020 @ 8:44 am By JD Alois  |  

Digital bank Starling Bank has opened a third UK office – this one in Cardiff. According to a note from the Fintech, the office will create 400 jobs in Wales. The new operation will grow Starling’s back-office operation that includes data science, customer service and… Read More

March 4, 2020 @ 1:05 am By Omar Faridi  |  

Netherlands-headquartered Backbase, a digital banking software developer, has introduced its Onboarding and Origination platform, which has been designed to reduce client onboarding times by as much as 80% while enhancing operational efficiencies by 30%. Backbase’s solution works well for retail clients, small and medium-sized enterprises… Read More

March 3, 2020 @ 8:54 am By Omar Faridi  |  

Smart savers have increasingly been turning to all-digital banking platforms or neobanks. They’ve been depositing their savings into virtual accounts in order to benefit from highly competitive interest rates. According to the latest data from the Australian Prudential Regulation Authority (APRA), Judo Bank had been… Read More

March 3, 2020 @ 12:58 am By Omar Faridi  |  

UK-based banking challenger Starling Bank intends to use its Irish banking license to make its way into other European nations in the coming years, Anne Boden, the company’s CEO, confirmed. During a recent interview with IBS Intelligence, Boden, founder of Starling Bank, noted that the… Read More

February 28, 2020 @ 1:32 am By Omar Faridi  |  

Approximately 90% of small business owners and freelance workers in the UK say they might prefer using an all-digital bank, instead of a traditional brick-and-mortar bank. This, according to a new study published by research firm Capterra. The study revealed that although 23% of survey… Read More

February 27, 2020 @ 9:28 pm By Omar Faridi  |  

Singapore-based neobank Tonik Financial Pte. Ltd. has acquired $6 million in funding as it plans to officially introduce its services in the Philippines during the third quarter of this year. Tonik has received seed funding from Fintech venture developer Forum. The digital bank has also… Read More

February 27, 2020 @ 7:26 am By Omar Faridi  |  

Banking Circle, a financial infrastructure developer, has been awarded a banking license from Luxembourg’s financial regulator. Established in 2013, Banking Circle serves as an alternative to the high-cost traditional banking network. The company’s services aim to provide greater financial utility, allowing Fintech firms to gain… Read More

February 26, 2020 @ 4:24 pm By JD Alois  |  

LendingClub (NYSE: LC), a marketplace lending platform and aspiring digital bank, has appointed Annie Armstrong as the company’s Chief Risk Officer (CRO). Simultaneously, LendingClub announced that the current CRO, Tim Bogan will take on a new role as Chief Banking Integration Officer to focus on… Read More

February 26, 2020 @ 8:50 am By Omar Faridi  |  

Australia-based digital bank Xinja has reached the $200 million mark in total customer deposits. The digital bank was launched less than a month back and it has already managed to accumulate the large sum of money via its popular Stash savings account. After only a… Read More

February 25, 2020 @ 10:22 pm By JD Alois  |  

Kapilendo is a Germany based Fintech that started life as a more traditional debt-based crowdfunding platform but has recently issued its first digital security. While moving into the blockchain sector Kapilendo has also added digital banking services catering to SMEs. Launched in 2015, Kapilendo went… Read More

February 24, 2020 @ 8:40 pm By JD Alois  |  

Leading UK based digital bank Revolut has closed on a $500 million series D funding according to a note from the company. The Fintech was valued at $5.5 billion making it one of the most valued private Fintechs in the world. Funding was led by… Read More

February 24, 2020 @ 5:17 pm By Omar Faridi  |  

Australia-based UBank, a digital lending company, has published an open-source software development toolkit on Github repositories in order to assist iOS developers in enhancing the accessibility of applications for users with disabilities. UBank’s new software tool checks for and issues a warning for different types… Read More

February 24, 2020 @ 3:07 pm By JD Alois  |  

Yesterday, Crowdfund Insider covered the transition by Al Rayan Bank to an app-based banking platform. Today, the Bank has provided additional information on this transition. According to company representatives: “Customers need to register for the Mobile Banking app by 4th March to ensure uninterrupted digital banking,… Read More

February 24, 2020 @ 8:13 am By JD Alois  |  

Sogexia has been authorized as a payment institution by the Minister of Finances of Luxembourg and has been granted at the same time the European passport enabling the Fintech to operate within the 31 countries of the European Economic Area (EEA). A company representative said… Read More

February 24, 2020 @ 7:52 am By JD Alois  |  

Digital bank Starling has kicked off a new advertising campaign focusing on banking services for SMEs, according to a release. The digital pitch promotes Starling Bank as supporting small businesses claiming the bank helps your business fly. Starling Bank is said to be spending “multi-millions”… Read More

February 23, 2020 @ 8:10 am By Omar Faridi  |  

United Arab Emirates (UAE)-based aafaq Islamic Finance has officially launched its core banking, Islamic banking and payments platforms, which have been developed by Infosys. aafaq’s management confirmed that the financial institution has upgraded its digital, payments and Islamic banking with software designed by Infosys, an… Read More

February 23, 2020 @ 7:37 am By Omar Faridi  |  

New York-based JPMorgan Chase (NYSE:JPM) , the world’s sixth-largest bank with over $2.6 trillion in assets, has moved a step closer to introducing a wide range of personal banking products in the United Kingdom. The move would be similar to what Goldman Sachs has done… Read More