Tagged: digital bank

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

December 6, 2019 @ 2:33 pm By Samantha Hurst  |  

Chime, a U.S.-based app-only bank, has reportedly secured $500 million through its Series E funding round, bringing Chime’s valuation to $5.8 billion. The investment comes less than a year after Chime raised $200 million through its previous round when it was valued at $1.5 billion…. Read More

December 6, 2019 @ 8:45 am By Omar Faridi  |  

UK’s OakNorth Bank, which is run by OakNorth, has finalized a deal worth £8 million (appr. $10.5 million) to finance a share repurchase for shareholders of Security Plus, Europe’s leading independent volume cash carrier. Established in 1977, Security Plus currently manages around 3,500 live contracts…. Read More

November 22, 2019 @ 11:47 am By Omar Faridi  |  

New York-based Citigroup Inc.,  (NYSE:C)an American multinational investment bank and financial services corporation, has been named the “World’s Best Digital Bank” by Global Finance Magazine. Notably, this is the 18th consecutive year that Citi has been ranked as the best digital bank worldwide by the… Read More

November 21, 2019 @ 1:53 am By JD Alois  |  

Led by CEO Robert Bell and chaired by Anthony Thomson, digital bank 86 400 launched in September 2019 with transaction and savings accounts. Last week, 86 400 announced an entirely digital home loan offering said to be the first “smart alternative to how brokers currently… Read More

November 19, 2019 @ 2:55 pm By JD Alois  |  

Brazilian Digital bank Neon has reportedly raised $95.27 million in a funding round led by Banco Votorantim and the General Atlantic fund. This is according to a write up in Estado. Neon claims a customer base of 2 million users. The additional funding will help… Read More

November 12, 2019 @ 8:34 am By JD Alois  |  

Digital bank Revolut has selected a new Chairman of the Board. Martin Gilbert, an individual who has been advising Revolut co-founder and CEO Nik Storonsky, will join the bank on January 1st as non-Executive Chair. Gilbert is the former co-Chief Executive of Standard Life Aberdeen,… Read More

November 7, 2019 @ 4:44 pm By JD Alois  |  

Earlier this week, leading marketplace lending platform LendingClub (NYSE:LC) announced Q3 financial results that beat on both the top and bottom line. Importantly, LendingClub reported its first profitable quarter in years – a longtime goal of the Fintech. LendingClub went public in December 2014 during… Read More