Tagged: digital banking

January 24, 2020 @ 12:36 pm By Omar Faridi  |  

The rapidly evolving digital banking sector has been receiving a significant amount of venture capital investments. India-headquartered neobank Nupay recently acquired an undisclosed amount of capital from several investors led by integrated incubator and accelerator platform, Venture Catalysts. Navin Puri, ex-country head of Branch Banking… 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

January 22, 2020 @ 7:37 am By Omar Faridi  |  

Vive, a newly established UK-based digital bank, has reportedly acquired a banking license with certain restrictions from the Bank of England (BoE). The new digital bank aims to provide personal loans and a fixed-rate savings account. It will be launching with an Open Banking-based funds… Read More

January 21, 2020 @ 9:15 pm By Omar Faridi  |  

A Dubai-headquartered Fintech firm focused on providing payment processing services will be launching OG Bank and OG Pay (On the Go), an online banking platform, chat-based digital payment wallet and an online point-of-sale (PoS) system – which will all be accessible and managed from mobile… Read More

January 21, 2020 @ 4:15 pm By Samantha Hurst  |  

Neon, a Switzerland-based mobile banking app, announced on Monday it is eliminating extra fees for card payments abroad. The company revealed the exciting news by stating the following: “To pay so much in fees while abroad is just not ok anymore. Card payments and cash… Read More

January 21, 2020 @ 7:42 am By Samantha Hurst  |  

Russian banking group Sberbank announced on Tuesday its loyal program is now allowing users to send reward points to each other. According to Sberbank, all loyalty program members, besides those who are at the lowest Spasibo privilege level, will be entitled to transfer points from… Read More

January 21, 2020 @ 7:35 am By Samantha Hurst  |  

India-based banking group Icici Bank announced on the launch of its Cardless Cash Withdrawal feature from ATMs. The bank reported this service enables customers to withdraw cash from more than 15,000 ATMs of the bank by simply raising a request on iMobile, Icici Bank’s mobile… Read More

January 20, 2020 @ 10:36 pm By Omar Faridi  |  

TSB has confirmed that it will establish a new IT center based in Edinburgh, in order to support the launch of digital banking services, as part of a £120 million (appr. $156 million) investment – which is expected to create around 100 new technology jobs,… Read More

January 20, 2020 @ 4:27 pm By Samantha Hurst  |  

Tink, a Sweden-based fintech that provides APIs to create next-generation banking services, announced on Monday it secured €90 million through its latest investment round, which was co-led by Dawn Capital, HMI Capital, and Insight Partners. The latest funding comes less than a year after Tink… Read More

January 20, 2020 @ 1:14 pm By Samantha Hurst  |  

Banking group DBS announced on Monday it has launched a new solution to transform cash and paper-based B2B payments and collections landscape for businesses in Singapore. The bank reported its QR-code based solution is powered by DBS RAPID and DBS MAX and addresses Singapore’s aim… Read More

January 20, 2020 @ 8:25 am By Omar Faridi  |  

Volt, one of Australia’s first neobanks to have received a full operational license in the country, has reportedly secured an additional $70 million in investments. Steve Weston, co-founder and CEO at Volt, stated: “The high levels of interest we are receiving from potential banking partners… Read More

January 19, 2020 @ 11:06 pm By Samantha Hurst  |  

UK-based digital banking group Monzo announced last week it will be now be reporting to Experian. The company revealed that it previously just reported to TransUnion. “Although we’ve started sharing information with Experian, it’ll take a month or two for Monzo to appear on your… Read More

January 19, 2020 @ 7:58 am By Omar Faridi  |  

The challenger bank trend first began in Europe and has been gradually spreading to other parts of the world. Traditional banking challengers have been growing steadily and have managed to attract large investments. FT Partners’ new report, titled The Rise of Challenger Banks: Are the… Read More

January 15, 2020 @ 7:49 am By Omar Faridi  |  

Netherlands-based Backbase has introduced its new managed cloud platform Backbase-as-a-Service (BaaS). It provides financial institutions access to the firm’s entire portfolio, which consists of various banking products and innovation tools. The online banking software developer officially launched the product at Backbase Connect, the firm’s annual… Read More

January 14, 2020 @ 7:47 am By Samantha Hurst  |  

BBVA, a Spanish multinational banking group, announced on Tuesday it has partnered with the authentication solutions company Nok Nok Labs to further strengthen the use of biometric authentication on its mobile banking services. BBVA reported that through this agreement, Nok Nok will provide BBVA with… Read More

January 13, 2020 @ 2:26 pm By Samantha Hurst  |  

Goldman Sachs (NYSE: GS) has launched a mobile app for its digital banking service, Marcus.  The fact that such a prominent entrant into the digital bank sector has existed minus an App has long been a shortcoming of the Fintech. Goldman Sachs spokeswoman, Kristen Greco,… Read More

January 13, 2020 @ 8:13 am By Omar Faridi  |  

The first of Hong Kong’s upcoming group of virtual banks has confirmed its launch with a 6% special introductory rate on all deposits. ZA Bank Ltd., which is notably one of eight companies planning to establish digital-only banking services in Hong Kong, has launched a… Read More

January 13, 2020 @ 7:51 am By Samantha Hurst  |  

UK-based digital banking group Starling Bank announced on Monday it supercharging its bank accounts for businesses and sole traders with a range of new features, which includes unsecured loans of up to £250,000, an increase in its overdraft limits from £10,000 to £150,000, more competitive… Read More

January 12, 2020 @ 10:42 pm By Samantha Hurst  |  

UK-based digital banking group Monzo celebrated the new year by sharing the successes of the past twelve months. The fintech revealed it started last January with just over a million customers, and now, over 3.6 million people bank with its platform. The company has since… Read More

January 12, 2020 @ 8:53 am By Omar Faridi  |  

Thailand is currently laying the groundwork for standalone or independently-functioning online banks as the Southeast Asian nation tries to catch up with other nearby markets that have been upgrading their banking infrastructure. Veerathai Santiprabhob, governor of the Bank of Thailand, noted during a recent interview:… Read More