Tagged: digital bank

February 17, 2020 @ 10:10 am By JD Alois  |  

UK based digital bank Starling Bank is investing in P2P loans originated on the Zopa platform, according to a report in AltFi. The write-up quotes a Starling Bank representative that explained the arrangement: “Starling is in a unique position among neobanks of having a very… Read More

February 12, 2020 @ 12:09 am By JD Alois  |  

In a bit of a shocker, Germany based digital bank N26 has decided to exit the UK market and close all customer accounts apparently due to Brexit. According to a blog post, the Fintech said leaving the UK does not change their global vision to… Read More

February 11, 2020 @ 1:36 am By Omar Faridi  |  

Leading UK-based digital bank Revolut has introduced a new Open Banking feature, which will allow users to view their bank accounts from other financial service providers from within the banking challenger’s app. Revolut partnered with financial API developer TrueLayer to allow all of its retail… Read More

February 10, 2020 @ 1:00 pm By JD Alois  |  

The Federal Deposit and Insurance Commission (FDIC), the US regulatory agency that provides vital deposit insurance for millions of account holders in the US, has given the green light to Varo Money – a digital-only bank. The Office of the Comptroller of the Currency (OCC),… Read More

February 10, 2020 @ 7:50 am By Samantha Hurst  |  

UK-based digital banking group Starling Bank has reportedly secured £60 million from existing investors Merian Global Investors and Harry McPike’s JTC. The banking group has successfully raised £323 million and the latest funding follows two investment rounds of £105 million, which were led by Merian in 2019…. Read More

February 8, 2020 @ 5:38 pm By Omar Faridi  |  

Majority, a digital banking platform focused on serving immigrant communities, recently introduced its products to US customers, following a four-month beta testing period. In order to expand its existing business operations, Majority says it remains focused on two major drivers: physical meetup spaces and brand… Read More

February 7, 2020 @ 6:51 pm By Omar Faridi  |  

Traditional banks and other financial institutions need to go through a cultural transformation before they can successfully undergo a digital transformation, according to the chief technology advocate at Starling Bank, whose statements came during a recent panel discussion. The recent debate, which was an initiative… Read More

February 5, 2020 @ 8:34 am By Omar Faridi  |  

The addition of Molo, UK’s first, all-digital mortgage lender, Underpinned, a career management platform for freelance workers, and accounting services provider Paystream to the Starling Business Marketplace will take the digital bank’s business integrations count to 14. The integrations aim to build on services that… Read More

February 4, 2020 @ 4:22 pm By JD Alois  |  

Marcus by Goldman Sachs (NYSE:GS), a digital bank serving customers in the US and UK, is expected to play a significant role in the future of the world’s most successful investment bank. During the recent Investor Day, Goldman outlined its vision for both corporate and… Read More

February 4, 2020 @ 3:13 pm By Omar Faridi  |  

Dallas-based Texas Capital Bank has officially introduced Bask Bank, an online savings account that earns American Airlines AAdvantage miles, instead of accumulating interest. As mentioned on Bask’s website, the bank is a member of the Federal Deposit Insurance Corporation (FDIC), which means customers’ total deposits… Read More

February 4, 2020 @ 9:33 am By Samantha Hurst  |  

Stori, a Mexico-based digital banking startup, announced on Tuesday it secured $10 million through its Series A2 funding round, which was co-led by Bertelsmann Investments (BI) and Source Code Capital, with participation from existing investor Vision Plus Capital.  Stori has so far raised more than… Read More

February 3, 2020 @ 10:50 pm By JD Alois  |  

Federal Bank, a private bank with a branch network of 1,251 branches and about 2000 ATMs, has issued a release that it has opened its first “digital branch” called “Fed-e-Studio .” This digital branch was announced at an event last week at Rajarhat Bhatenda. Dr…. Read More

February 3, 2020 @ 8:21 am By Omar Faridi  |  

Jumio, an established provider of artificial intelligence (AI)-enhanced end-to-end identity verification and authentication services, has teamed up with CIMB Bank Philippines’ all-digital bank to offer a convenient and user-friendly digital onboarding solution to Filipinos. Having completed its first full year of business operations, CIMB Bank… Read More

January 31, 2020 @ 10:15 am By Samantha Hurst  |  

UK-based challenger bank Monzo announced earlier this week it has up’ed its security measures by upgrading its 3D Secure feature, which is a payment standard that aims to reduce e-commerce fraud by adding two-factor authentication to online transactions. The upgraded version of 3D Secure will… Read More

January 29, 2020 @ 10:20 am By JD Alois  |  

Goldman Sachs Group (NYSE: GS) presented the firm’s vision for the future today in an Investor Meeting that charted the roadmap for the bank over the next few years. Goldman said the investor day reflects their ongoing commitment to providing the market with a “clear… Read More

January 29, 2020 @ 4:32 am By Omar Faridi  |  

The Nashik Merchant’s Co-op Bank (NAMCO), a Maharashtra-headquartered co-operative bank has decided to go digital. The Indian co-op bank has reportedly teamed up with India Transact Services Limited (ITSL), in order to introduce point of sale (PoS) terminals for all of its merchant accounts. This… Read More

January 28, 2020 @ 9:48 am By Samantha Hurst  |  

Curve, a banking platform that consolidates multiple cards and accounts into one smart card and even smarter app, announced on Tuesday it is bringing Apple Pay to its customers across Europe. The company reported that with Apple Pay, customers may make purchases on iPhone, Apple… Read More

January 27, 2020 @ 5:54 pm By Omar Faridi  |  

The Bank of Thailand is reportedly considering issuing licenses to digital banks, which aim to provide greater financial inclusion while catering to changing consumer requirements in the digital age. New Fintech industry participants are encouraging competition and disruption in Thailand’s banking sector. These startups aim… Read More

January 27, 2020 @ 12:39 pm By Omar Faridi  |  

A newly launched Israeli virtual bank founded by experienced tech professionals Amnon Shashua and Marius Nacht will begin offering banking services to clients at some point next year, according to an update posted by the financial institution on January 27. As of this report, no… Read More

January 23, 2020 @ 8:16 am By Samantha Hurst  |  

Digital-only bank platform N26 announced on Wednesday it now has more than five million customers who are banking on its platform around the globe. The company stated: “As we enter a new decade, we’re delighted to share some more fantastic news. N26 has reached another… Read More