Tagged: digital banking

August 4, 2021 @ 10:57 pm By Omar Faridi  |  

Indian Fintech Razorpay notes that a current account is usually a “feature-loaded” banking product that’s designed to streamline money movement for businesses. The Razorpay team writes in a blog post that just like any other bank account, a current account has a few “standard features”… Read More

August 4, 2021 @ 11:16 am By Omar Faridi  |  

NYMBUS, an established provider of banking tech solutions, has introduced an updated portfolio of “niche” virtual banking concepts via Nymbus Labs. These new services are ready and available “to purchase, launch and grow by any size bank or credit union seeking to accelerate growth through… Read More

August 3, 2021 @ 6:20 pm By Omar Faridi  |  

Digital bank Revolut, which offers a financial Super App with 16 million clients globally, reveals that it has simplified cross-border transactions between the US and Mexico with the introduction of its US-Mexico remittance corridor. With this launch, Revolut clients in the US and Mexico are… Read More

August 2, 2021 @ 10:27 pm By Omar Faridi  |  

CIMB Bank and CIMB Islamic Bank have introduced the CIMB OctoSavers Savings Account-i, which is the first all-digital Islamic account where the account opening and onboarding process is carried out completely online. New clients will also get the newly introduced Octo Debit Mastercard via mail… Read More

July 31, 2021 @ 2:40 pm By Omar Faridi  |  

UK-based digital bank Monzo is currently facing a civil and criminal money-laundering investigation that is being carried out by the Financial Conduct Authority (FCA). Monzo‘s management disclosed these details in its annual report that was released on Friday (July 30, 2021). For the second straight… Read More

July 29, 2021 @ 4:21 pm By Tony Zerucha  |  

When improving their digital offerings, banks must be mindful to maintain a human element, the results of a recent global survey of more than 4,700 banking customers by banking software company Temenos suggest. A total of 43 per cent want easier ways of paying bills… Read More

July 29, 2021 @ 8:05 am By Omar Faridi  |  

The team at digital bank Revolut notes that they are now closer to 2022 than 2020, so making plans for next year would be a good idea. They also mentioned that July was “generous,” bringing many new products with it, including those related to booking… Read More

July 28, 2021 @ 4:53 pm By JD Alois  |  

LendingClub (NYSE:LC), a Fintech that started as a peer-to-peer lender and now operating as a digital bank, has posted strong 2nd quarter results that easily topped expectations. LendingClub finally turned the corner on profitability shredding guidance that had expected a loss. Shares moved considerably higher… Read More

July 28, 2021 @ 11:23 am By JD Alois  |  

Revolut continues to add and announce new features at an aggressive pace. Today, the neobank is adding Restaurant rewards – a cashback feature that Revolt says may include up to 30% cashback after paying a tab at a UK restaurant. The new Restaurant Rewards are… Read More

July 26, 2021 @ 11:49 pm By Omar Faridi  |  

The United Arab Emirates (UAE) ranked first among the Arab nations in FinxAr. As covered, the Arab Monetary Fund introduced the Index of Modern Financial Technologies in the Arab countries (called the FinxAr). The index aims to provide insights on the ongoing developments in the… Read More

July 26, 2021 @ 10:22 am By Omar Faridi  |  

Digital bank Zopa will be working with JPMorgan which will serve as an advisor on a £100 million funding round. This, according to a report from Sky News, which noted that investors who have been approached regarding the investment round have been considering a £500… Read More

July 26, 2021 @ 8:12 am By Omar Faridi  |  

UK’s Starling Bank recently shared its trading update for the quarter to 30 June 2021 and its report and “accounts for the period ending 31 March 2021.” The results, released by Starling on July 22, 2021, demonstrate “strong and responsible growth, continued profitability and a… Read More

July 25, 2021 @ 10:43 am By Omar Faridi  |  

In a keynote speech that focused on fraud and financial crime at a conference in Asia, Carmen Chu, Executive Director (Enforcement and AML), Hong Kong Monetary Authority, discussed anti-money laundering and financial crime risk issues and the ability of authorities to address these problems. While… Read More

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