Tagged: digital banking

Digital Banking Challenger Starling Secures £272M via Series D led by Fidelity, Reports £1.1B Pre-Money Valuation

UK-based Fintech challenger Starling Bank has secured £272 million in capital via a Series D funding round led by Fidelity Investments. Starling Bank reported a £1.1 billion pre-money valuation. This latest investment round diversifies Starling’s slate of institutional investors to include some of the largest… Read More

ICICI Bank: One Million Customers of Other Banks Are Using Banking App “iMobile Pay”

  India-based banking group ICICI Bank recently announced as many as one million customers of other banks have started using its banking app, iMobile Pay. ICICI reported to start using iMobile Pay, customers of any bank may link their bank account with the app, generate… Read More

Digital Banking Challenger Current Reveals that Average Tax Refund Size Is Just Over $2K, Money Sent with Current Pay Increased Nearly 10%

Current, one of the leading digital banks in the US, reveals that it’s been a busy few weeks at the company as they began receiving tax refunds for thousands of clients five working days faster than regular banks. Current claims that most of the money… Read More

Digital Banking Challenger Revolut Provides Updates on its Work from Home Policies, Claims to Employ Professionals from Over 100 Nationalities

Prominent digital bank Revolut is offering the opportunity to get a 1-month trial of the Revolut for Company Grow plan or Revolut for Freelancer Pro plan for free. To take advantage of this offer, users need to upgrade their plan to Company Grow or Freelancer… Read More

MyMy, which aims to Become Shariah-Compliant Digital Bank, Partners Sukaniaga to Apply for Malaysian Virtual Bank License

MyMy, which aims to become the world’s first Shariah-compliant digital bank, and digital loan platform Sukaniaga Sdn Bhd recently confirmed their partnership which focuses on establishing a virtual banking consortium. They’re also planning to apply for one of the five digital banking licenses that will… Read More

UK’s Banking Challenger Monzo Explains how it’s Rolling Out its Financial Services to US Customers

Monzo, a UK based digital bank that recently raised £50 million as part of a Series G extension,  recently explained that it basically offers a mobile banking platform that “puts you in control of your money.” While clarifying whether Monzo is, by definition or legally… Read More

Open Banking related Services are Now Key Focus Area for Professional Bankers Globally: Report

Banking software firm Temenos (SIX: TEMN) has released a report, titled “Open Banking: Revolution or Evolution?”, which was authored by the Economist Intelligence Unit (EIU) and it’s also based on a survey of more than 300 senior banking professionals. The report revealed that almost half… Read More

OurCrowd Leads Funding Round in Neobank Rewire’s $20 Million Series B

Rewire, a digital banking startup that is targeting cross-border banking services has announced a $20 million Series B funding round. The round was lead by leading global crowdfunding platform OurCrowd and also included a line of credit from an undisclosed bank. According to a release,… Read More

TD Bank Will Shutter 82 Branches as Digital Transition Continues

TD Bank will shutter 82 branches as it seeks to reduce physical locations and cut costs as the transition to digital banking forges ahead. Yesterday, TD announced financial results for the first quarter ended January 31, 2021. TD reported earnings of CDN $3.3 billion, up… Read More

Anchorage Secures $80 Million Through Series C Funding Round to Expand Digital Banking Services

  Anchorage, a U.S.-based premier digital asset platform for institutions, announced on Thursday it secured $80 million through its Series C funding round, which was led by GIC with participation from a16z, Blockchain Capital, Lux, and Indico. Founded in 2017, Anchorage claims it was created… Read More

Westpac Group in Australia Reveals that Marketplace Lender SocietyOne has joined its Digital Banking Platform

The Westpac Group in Australia has revealed that SocietyOne is its second partner to join­ the institution’s new digital banking-as-a-service (BaaS) platform. SocietyOne is a key Fintech player in the nation’s digital lending sector (having originated more than $1 billion in loans). According to a… Read More

Multinational Digital Banking Group Tyme Secures $100M in Capital via Series B Round

Tyme, a multinational digital banking group based in Singapore, has reportedly secured $110 million in capital through a Series B funding round. Tyme is focused on bringing foreign investments into South Africa. TymeBank aims to establish the foundation for its business expansion across ASEAN region,… Read More

Banking Challengers Starling and Branch Provide Reasons to Break Up with Your Old Bank

UK-based digital banking challenger Starling notes that bad relationships can be a lot of hard work. The Fintech firm has provided several reasons why it may be a good idea to “cut the ties” with your regular bank and “fall in love with easy, responsible… Read More

i2c Joins Forces With Zytara For Digital Banking Platform

Online banking and payments company i2c announced on Tuesday it has formed a new partnership with Zytara, the pioneering digital banking platform and payment network designed for millennials. i2c reported that through the partnership Zytara’s digital banking will offer its customers products and services, which includes… Read More

Digital Banking Group Penta Tops Series B+ Investment; Now Amounts to €30 Million

    Digital banking group Penta announced on Tuesday it has topped up its Series B+ investment round. The company reported the total investment now amounts to €30 million. As previously reported, Penta describes itself as a digital platform for business banking that is aimed… Read More

Green Dot Appoints Amit Parikh As Executive Vice President of Banking as a Service Division

Green Dot Corp. (NYSE: GDOT), a fintech and registered bank holding company, announced on Monday it has appointed Amit Parikh as new Executive Vice President of its Banking as a Service division. According to Green Dot, Parikh will lead the organization responsible for delivering end-to-end… Read More

Digital Banking Challenger 86 400 Reveals that 74% of Aussies Admit to having Disagreements About Money Management with Partners

Digital banking challenger 86 400 reveals that almost three-quarters (74%) of Aussies “admit to having disagreements” regarding money matters with their partner. This, according to a recent survey from 86 400, which claims to be Australia’s first “smartbank.” The survey, which had been released in… Read More

N26 Launches Free Standard Bank Account that Offers 100% Digital Banking Experience

  Digital-only bank platform N26 announced earlier this week the launch of its new N26 Standard banking account. According to N26, the new account offers a 100% digital banking experience. N26 Standard bank accounts are available at no monthly cost, and of course, both virtual and… Read More

Digital Banking Challenger BigPay to Expand Financial Services Offering with Cash Top Up at all Malaysian 7-Eleven Stores

Digital banking challenger BigPay has confirmed that it will be expanding its suite of financial services with the introduction of cash top up at all 7-Eleven stores based in Malaysia. BigPay’s management noted that more than 1.3 million of the firm’s Malaysian clients may now… Read More

Varo Bank Announces Engagement With NBA Player & Entrepreneur Russell Westbrook, Raises $63 Million

  Digital banking group Varo Bank announced on Thursday an extensive engagement with Russell Westbrook, nine-time NBA All-Star, NBA MVP, entrepreneur, philanthropist, and designer. Varo Bank reported that Westbrook is now an investor as well as an advisor.  He will have direct input into the future direction… Read More

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