Tagged: digital bank

January 6, 2020 @ 9:20 am By JD Alois  |  

Digital challenger Starling Bank is highlighting research that points to the burden of micro-businesses when it comes to managing financial admin demands. Starling notes that there are an estimated 5.6 million micro-businesses (0 to 9 employees) in the UK. According to the research, which surveyed… Read More

January 5, 2020 @ 6:59 am By Xu Gao  |  

Ant Financial Applies for Singapore Digital Banking License On January 2nd, Ant Financial confirmed that it had applied a digital wholesale banking license in Singapore as an effort to promote the development of local digital banking and global financial inclusion. As early as November 19th… Read More

January 3, 2020 @ 5:03 pm By Omar Faridi  |  

Puerto Rico-based digital bank First Finance International Bank (FFIBI) has reportedly partnered with the Australia-headquartered Seafarer Foundation, in order to offer online payroll and card services for the marine industry. By working cooperatively with FFIBI, the Australia-based foundation has launched a General Purpose Reloadable Multi-Currency… Read More

December 31, 2019 @ 8:15 am By Omar Faridi  |  

Over 40 Fintech companies operating as small and medium-sized (SMEs) businesses in South Korea reportedly were unable to clear the appropriate security checks needed to obtain final approval to take part in the open banking initiative. The Fintech companies had applied for operational licences in… Read More

December 30, 2019 @ 6:52 pm By JD Alois  |  

Baanx a banking app, payment platform, and cryptocurrency trading platform, is nearing its £600,000 funding goal on Seedrs. Baanx is looking to sell a 7.1% equity stake in the firm at a pre-money valuation of £7.85 million. To date, Baanx has raised £567,825 from 276… Read More

December 30, 2019 @ 8:48 am By Omar Faridi  |  

Non-financial firm ride-hailing service provider Grab confirmed on December 29 that it is partnering with one of Singapore’s largest telecommunication companies, Singtel, in order to acquire a digital full bank license in the Asian country. Singapore is currently accepting applications for a licenses to establish… Read More

December 30, 2019 @ 7:32 am By Omar Faridi  |  

Digital bank Monzo is reportedly holding discussions with various large investors about potentially raising additional funds. Following its upcoming investment round, the company might become one of the UK’s largest Fintech startups. According to sources on the matter, Monzo is in talks with investors, some… Read More

December 23, 2019 @ 10:43 am By Omar Faridi  |  

Foreign residents in South Korea will have the option of using the all-digital Kakao Bank and K bank beginning next year, as the country’s financial regulators will let consumers use their alien registration cards to open accounts via the internet. South Korea’s financial regulator, the… Read More

December 23, 2019 @ 7:21 am By Omar Faridi  |  

The majority of Filipinos still do not actively use online banking services with many locals preferring to visit traditional brick and mortar locations. However, an entire generation of new users in the country is now using digital banking platforms. Europe-based Global bank ING, a financial… Read More

December 19, 2019 @ 9:02 am By Samantha Hurst  |  

UK-based digital banking group Monzo announced on Wednesday it will now allow cash withdrawals in the European Economic Area (EEA) to be free. This news notably follows a change in EU regulation on cross-border payments we’ve decided to remove ATM fees and limits for countries… Read More

December 19, 2019 @ 8:25 am By Samantha Hurst  |  

UK-based digital banking platform Starling Bank announced on Wednesday it has expanded its business Marketplace with the addition of cloud-based accounting software provider Intuit QuickBooks. The service will give the bank’s 90,000 business customers a link between their bank account activity and their accounting package…. Read More

December 18, 2019 @ 8:53 am By Omar Faridi  |  

Australian banking challenger 86400 has teamed up with FMS, a mortgage software developer, in order to use its eSign solution for mortgages. In November 2019, neobank 86400 introduced its home loan product suite, which has been designed to reduce the time required to issue and… Read More

December 17, 2019 @ 5:13 pm By Omar Faridi  |  

Mobile-only, banking challenger Starling Bank is planning to focus more on its brand awareness as it tries to move past its status as a startup and become one of the leading Fintech industry participants. As reported by WARC, Starling’s chief growth officer Rachael Pollard remarked:… Read More

December 17, 2019 @ 2:43 pm By Omar Faridi  |  

EQ Bank, a digital platform provided by Equitable Bank, Canada’s Challenger Bank, revealed that it has teamed up with TransferWise, a leading UK-based money transfer service. Following the partnership, EQ Bank is offering faster cross-border funds transfers that are up to 8x cheaper for the… Read More

December 17, 2019 @ 3:47 am By Omar Faridi  |  

The digital-only retail banking platform of ING, a Dutch multinational banking and financial services corporation based in Amsterdam, is set to expand its product offering in 2020. The financial giant’s new services will reportedly include new payments and lending options, and various other products that… Read More

December 14, 2019 @ 1:41 am By Omar Faridi  |  

UK-based digital bank Metro Bank Plc recently revealed that it has teamed up with Canadian Fintech firm Sensibill in order to test out an app-based online receipt system made for small businesses. Metro bank notes that it’s inviting small business owners to take part in… Read More

December 13, 2019 @ 7:50 am By Omar Faridi  |  

Germany-headquartered Wirecard, a payments platform, and France’s Orange Bank, a challenger bank, announced on December 11 that they’re extending their existing business relationship to allow Android users in France to make payments through Google Pay. Orange Bank claims that 17% of all mobile payments in… Read More

December 11, 2019 @ 8:08 am By Omar Faridi  |  

N26 Inc., the US-headquartered subsidiary of digital bank N26 GmbH, one of the fastest-growing mobile-based banks in Europe, revealed on December 9 that it’s expanding its Perks program. N26 is one of several European digital banks crossing the Atlantic to compete in the huge US… Read More

December 11, 2019 @ 12:19 am By Omar Faridi  |  

Spanish Fintech firm Latinia revealed last week that it had invested (an undisclosed amount) in Flink, a business-to-customer (B2C) Mexican digital bank. The Barcelona-headquartered company said that it changed its usual business-to-business (B2B) strategy when investing in Flink, because of the increasing demand of neobanks… Read More

December 10, 2019 @ 5:05 pm By Omar Faridi  |  

Australia-based digital bank Volt Bank has revealed details regarding one of its most anticipated and soon-to-be-released banking products, a new type of savings account with a decent interest rate. Volt Bank’s official website says that the digital bank will provide a 2.15% maximum ongoing interest… Read More