Tagged: digital banking

July 24, 2021 @ 3:26 pm By Omar Faridi  |  

The Union Bank of the Philippines, which is part of a conglomerate that is led by Aboitiz Equity Ventures, will be launching the fourth all-digital banking platform in the Southeast Asian country. This, according to a Philstar Global report. The UnionBank’s virtual bank application has… Read More

July 21, 2021 @ 10:45 pm By Omar Faridi  |  

Malaysia-based Fintech firm Jirnexu reveals that it has entered into partnership agreements with over five consortia as they apply for a virtual banking license. They stated that with Jirnexu’s client base and a solid understanding of their financial requirements via RinggitPlus.com, the digital banking license… Read More

July 15, 2021 @ 11:29 am By Omar Faridi  |  

Temenos (SIX: TEMN), the banking software firm, brings to market the next-gen in virtual banking with Temenos Infinity Micro Apps. Temenos Infinity Micro Apps are now able to provide packaged business capabilities (PBC), for banking platforms to quickly develop customized digital customer experiences by adding… Read More

July 15, 2021 @ 9:46 am By JD Alois  |  

Once again, leading Fintech investment bank FT Partners has played a key role in an outsized funding round in the Revolut transaction. As was reported earlier today, Revolut raised $800 million at a whopping $33 billion valuation. The funding was led by SoftBank – Tiger… Read More

July 15, 2021 @ 7:54 am By Omar Faridi  |  

Prominent digital bank Revolut has finalized a massive $800 million round that now values the loss-making Fintech at $33 billion. Revolut‘s latest investment round brings on board two key investors, the SoftBank Vision Fund 2 and Tiger Global Management. The capital injection will be channeled… Read More

July 14, 2021 @ 2:36 pm By Omar Faridi  |  

Marqeta (NASDAQ: MQ), the global modern card issuing platform, and Payfare (TSX: PAY), a Fintech firm focused on offering instant payout and digital banking services for contract professionals, have formed a new partnership in order to expand the reach of Payfare’s platform to the fast-evolving… Read More

July 13, 2021 @ 7:54 am By Omar Faridi  |  

InstaVolt, an established rapid electric vehicle charger network, has partnered with UK’s digital bank Starling. Through the partnership with Starling, the digital bank will utilize InstaVolt’s rapid charging network as “a full service advertising channel from 5th July.” As mentioned in a release shared with… Read More

July 12, 2021 @ 9:35 pm By Omar Faridi  |  

Australia’s first neobank Volt has reportedly acquired neo-lending platform Australian Mortgage, enabling it to provide “fully-verified” approval times of less than 15 minutes on its new digital mortgage product. As mentioned in a release shared with CI: “This is a material improvement compared to many… Read More

July 12, 2021 @ 7:22 pm By Omar Faridi  |  

The Canadian Imperial Bank of Commerce (CIBC) (TSE: CM), a multinational banking and financial services corporation headquartered in Toronto, Ontario, has entered a multi-year deal to use Microsoft Azure as its main Cloud platform. The partners noted in the announcement that Microsoft Azure should help… Read More

July 9, 2021 @ 5:27 pm By Omar Faridi  |  

BigPay is focused on expanding its business operations into Thailand after Airasia’s acquisition of Gojek’s Thailand division via its digital unit in a deal valued at RM208 million (appr. $50 million). This move has been announced ahead of AirAsia‘s plans to offer a Super app… Read More

July 9, 2021 @ 1:28 am By Omar Faridi  |  

Digital banking platform Revolut notes that they already know that Revoluters are “exceptional people.” However, the Fintech firm points out that what makes its team extraordinary is how well they have adapted to remote work in a post COVID environment. Revolut writes in a blog… Read More

July 5, 2021 @ 7:22 pm By Omar Faridi  |  

Capital Bank Group has reportedly chosen open API banking solutions provider Codebase Technologies in order to develop and deploy its first all-digital banking platforms in Jordan and Iraq. Through the partnership, Capital Bank Group will aim to deliver its digital bank offering to its retail… Read More

July 5, 2021 @ 10:10 am By Omar Faridi  |  

ZA International reveals that it has entered an agreement with BC Technology Group, which is the parent firm of OSL Digital Securities, a Securities and Futures Commission (SFC)-licensed digital asset service provider. Through the partnership, OSL should become the exclusive digital asset trading partner to… Read More

July 4, 2021 @ 5:43 pm By Omar Faridi  |  

Hong Hong-based digital banking platform Airstar Bank has confirmed the appointment of Xiaomi’s Chief Financial Officer Alain Lam Sai Wai as its new Chairperson of the Board of Directors (BoD). The previous Chair, Lei Jun, the Chinese billionaire businessman who established Xiaomi, has now stepped… Read More

July 4, 2021 @ 12:28 pm By Omar Faridi  |  

Bank Negara Malaysia, the nation’s reserve bank, recently revealed that it received 29 different applications for a virtual bank license under the Financial Services Act 2013 and the Islamic Financial Services Act 2013. This has come after a 6-month application period, which came to an… Read More

July 1, 2021 @ 10:58 pm By Tony Zerucha  |  

Pakistani digital bank UBL is partnering with Temenos and National Data Consultant to produce an omnichannel digital online banking platform digital banking solution. It builds upon UBL’s launch earlier this year of the Islamic Digital Account and UBL Pay, which allows customers to use phones… Read More

June 29, 2021 @ 7:49 pm By Omar Faridi  |  

Philippines-based digital and financial services company Voyager Innovations has secured $167 million in capital for its expansion program, which includes a venture into virtual banking, its listed and largest shareholder confirmed on Monday (June 28, 2021). Shareholders PLDT Inc, private equity firm KKR & Co… Read More

June 29, 2021 @ 9:40 am By Omar Faridi  |  

After the receipt of its provisional banking license back in 2019, Capital International Bank has managed to acquire the full Class 1(2) banking license under the Alternative Banking Regime (ABR) from the Isle of Man’s Financial Services Authority. Obtaining this permit means that the company… Read More

June 28, 2021 @ 7:43 am By Omar Faridi  |  

Slovenská sporiteľňa, which is one of the largest commercial banks in Slovakia, has reportedly selected FICO Decision Optimizer in order to enhance profitability while also improving portfolio management for its existing cash loan portfolio. By using FICO’s advanced AI-enhanced optimization, the banking institution will be… Read More

June 27, 2021 @ 10:55 pm By Omar Faridi  |  

Hong Kong-based digital banking platform Mox Bank and Mastercard recently revealed a smart new feature, referred to as “Flip.” Flip will be available on the “all-in-one” numberless Mox Cards which allow clients to flip freely between spending via their debit and credit card accounts. Mox… Read More