Tagged: digital banking

August 16, 2021 @ 7:46 pm By Omar Faridi  |  

Chime revealed on Friday (August 13, 2021) that it secured $750 million in capital through a Series G round round that now values the Fintech Unicorn at $25 billion. Notably, that’s $10 billion more than what the company had reported in October 2020 (when it… Read More

August 16, 2021 @ 2:02 pm By Omar Faridi  |  

The team at digital bank Revolut reveals that they’ve been working in “overdrive” to make things “easier” for clients. Revolut, which recently secured an additional $800 million in capital at a $33 billion valuation, has shared that August brings users “stacks of all-star” updates in… Read More

August 16, 2021 @ 12:14 pm By Omar Faridi  |  

UK’s digital bank Starling notes that with their platform and financial services, clients are able to bank “anywhere.” According to Starling Bank, that’s what makes them a wonderful app for business owners “out and about at festivals.” As part of this ongoing support for the… Read More

August 16, 2021 @ 9:27 am By Omar Faridi  |  

UK-based digital bank Monzo notes that getting paid can be fun, but quite often, what “goes on behind the scenes isn’t.” According to Monzo’s blog post, if anything, getting paid may “take the fun out of business fundamentals.” Monzo, which is currently the subject of… Read More

August 13, 2021 @ 3:35 pm By Omar Faridi  |  

Novo, the powerful small business banking platform, reveals that it has appointed Dani Lima to serve as Executive VP of Revenue and Strategy, and Peter Martinez will be working as the firm’s Director of Engineering. Today, many small business owners in the US spend a… Read More

August 12, 2021 @ 10:04 pm By Omar Faridi  |  

Australia’s first “smartbank,” 86 400, reveals that it has introduced a new 85% Loan to Value Ratio (LVR) tier for Owner Occupied, Principal and Interest home loans, and has now “removed the need to pay Lenders Mortgage Insurance (LMI) with a 15% deposit/equity, knocking thousands… Read More

August 10, 2021 @ 10:37 pm By Omar Faridi  |  

Finxact, a Core as a Service banking provider, reveals that First Horizon Bank, the super-regional bank based in Memphis, Tennessee, has converted its VirtualBank brand from its legacy core to the Finxact Cloud-core. The conversion represents a key milestone for the new era of Cloud… Read More

August 8, 2021 @ 8:24 pm By Omar Faridi  |  

Xiaomi and AMTD’s digital banking platform Airstar has introduced another stage of its pilot which reportedly features the SME Easy Pay Loan offering in order to provide a quicker and more accessible loan experience to SMEs. This new announcement has come after an initial pilot… Read More

August 8, 2021 @ 7:47 pm By Omar Faridi  |  

Switzerland’s banking software firm Temenos (SIX: TEMN) recently revealed that Australia’s digital banking platform, Alex, has now gone live on the Temenos Banking Cloud. Temenos technology will be used to support Alex’s launch as a licensed banking solution provider, after the acquisition of its Restricted-Authorized… Read More

August 5, 2021 @ 9:18 pm By Priyanka Pani  |  

The Bahrain-based open banking platform ila Bank plans to enhance its customer’s overall banking experience with five new features in a contactless environment. The bank has designed the new features after taking customer feedback at various digital touchpoints and customer insights gained through its agile… Read More

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