Tagged: digital banking

February 1, 2021 @ 9:37 am By Samantha Hurst  |  

Virgin Money recently announced it has added UK-based fintech, Codat, to its team of technology partners as it strengthens its digital business banking credentials. Virgin Money reported that Codat’s financial technology offer will play a key role in allowing a “seamless and secure” exchange of… Read More

February 1, 2021 @ 8:49 am By JD Alois  |  

LendingClub (NYSE:LC) has completed the acquisition of Radius Bancorp, according to a public release. Scott Sanborn, CEO of LendingClub, issued the following statement: “This is a historic day for LendingClub and a true watershed moment for the industry. The move to digital-first banking is accelerating,… Read More

January 29, 2021 @ 3:02 pm By JD Alois  |  

Mambu, a cloud banking service provider that powers the likes of N26, ABN AMRO, OakNorth and more, says it experienced a 100% year over year growth in 2020. The rapid rise of Mambu was driven by the 26 financial institutions that signed up for Mambu’s… Read More

January 29, 2021 @ 2:43 pm By Omar Faridi  |  

Last week it was reported that KeyCorp (NYSE:KEY) is planning to introduce a version of its digital banking platform to serve the needs of healthcare workers. The new digital bank solution may be rolled out on March 30, 2021, which is National Doctors’ Day. The… Read More

January 29, 2021 @ 11:41 am By Samantha Hurst  |  

National Australia Bank Limited (NAB) announced on Friday it has entered into a scheme implementation agreement to acquire 100% of the shares in 86 400 Holdings Ltd, the holding company of Australian neobank, 86 400. According to NAB, the acquisition is to help accelerate UBank’s… Read More

January 29, 2021 @ 8:15 am By Omar Faridi  |  

Germany-based lending company Commerzbank has announced that it will be cutting around 10,000 jobs and will permanently shut down 340 branches by 2024. The company confirmed that it plans to focus more on its digital transformation strategy so that it can lower operational costs and… Read More

January 28, 2021 @ 3:57 pm By Samantha Hurst  |  

    Digital-only bank platform N26 announced on Wednesday it now has seven million customers across 25 markets. This news comes just days after N26 celebrated its sixth birthday. As previously reported, N26 claims it is building the first mobile bank that the world loves to use…. Read More

January 27, 2021 @ 10:00 pm By Omar Faridi  |  

CIMB Bank Berhad and CIMB Islamic Bank Berhad have introduced CIMB CNY Go Digital for SMEs. This new product should help Asian businesses that are still facing challenges due to the COVID-19 pandemic, including those companies that are struggling to offer certain services because of… Read More

January 27, 2021 @ 10:03 am By Samantha Hurst  |  

  Milo, a U.S.-based digital banking and lending startup, announced on Wednesday it secured $6 million through its seed funding round, which was led by QED Investors with participation from MetaProp and 10X Capital.  Founded in 2018, Milo describes itself as a fintech company that… Read More

January 26, 2021 @ 11:17 pm By Omar Faridi  |  

The digital banking sector in South America has been growing steadily, with now over 30 neobanks in the region. Digital banking platforms currently serve more than 50 million consumers out of the region’s (approximately) 430 million residents, according to the latest data from Dutch Fintech… Read More

January 26, 2021 @ 10:13 pm By Omar Faridi  |  

UK-based challenger bank Monzo is reportedly struggling to maintain operations and may be trying to avoid the same fate as digital bank Xinja which was recently forced to shut down permanently. Fintech analyst Katherine Long from GlobalData recently noted that Monzo has turned into an… Read More

January 26, 2021 @ 11:10 am By Samantha Hurst  |  

  Taiwan’s Financial Supervisory Commission (FSC) recently announced it has granted a banking license to Rakuten International Commercial. The FSC reported that Rakuten International Commercial Bank (RICB) is the first internet-only bank to obtain a banking license in Taiwan. The FSC further revealed that RICB… Read More

January 26, 2021 @ 8:03 am By Omar Faridi  |  

Digital-only banking platform N26 has appointed a new Chief Financial Officer as Maximilian Tayenthal becomes the Fintech firm’s co-CEO. Dr. Jan Kemper is N26’s latest executive hire. Berlin-headquartered neobank N26 confirmed that it promoted company co-founder Maximilian Tayenthal to serve as co-CEO along with current… Read More

January 25, 2021 @ 10:25 am By Samantha Hurst  |  

  Digital banking group Varo Bank announced on Monday the launch of Varo for Tomorrow, which is described as an emergency fund giveaway aimed to help Americans get started on their savings journey for 2021 and build durable financial resilience for years to come. The… Read More

January 22, 2021 @ 5:28 pm By Omar Faridi  |  

YIELD App is getting ready to expand its decentralized finance (DeFi) banking solution to Avalanche. According to a blog post published on January 22, 2021 by Ava Labs, which supports the ongoing development of Avalanche, a distributed ledger technology (DLT)-focused platform and project, this new… Read More

January 22, 2021 @ 2:50 pm By Samantha Hurst  |  

  Digital-only bank platform N26 announced on Thursday that it has expanded Allianz Assistance travel insurance benefit packages for premium N26 You, N26 Business You, N26 Metal or N26 Business Metal customers to include epidemic and pandemic coverage for your travels, at no extra cost…. Read More

January 19, 2021 @ 8:14 pm By Omar Faridi  |  

Although neo banks or digital banking platforms have been gaining significant market share during the past few years, consumers still appear to be somewhat hesitant when working with these new providers as their primary accounts, according to recent research by Accenture. The 2020 Accenture Global… Read More

January 19, 2021 @ 3:24 pm By Samantha Hurst  |  

Temenos (SIX: TEMN), a banking software company, announces its next-generation Temenos Enterprise Pricing solution, which enables banks to design, manage and price innovative products, services, and product bundles using their own and third-party products. Accordingto Temenos, Temenos Enterprise Pricing can be deployed on Temenos Transact… Read More

January 19, 2021 @ 8:20 am By JD Alois  |  

LendingClub (NYSE:LC) says it has now received all the bank regulatory approvals necessary to complete its acquisition of digital bank Radius Bancorp. LendingClub said the deal should close on or around February 1, 2021, subject to completion or waiver of the remaining customary closing conditions. At… Read More

January 19, 2021 @ 7:59 am By JD Alois  |  

Goldman Sachs (NYSE:GS) has released Q4 earnings topping expectations with top-line revenue ahead of anticipated results. Shares in Goldman rose slightly in pre-market trading. Goldman has traded significantly higher since the beginning of 2021. Earnings per share for Q4 came in at $12.08 with full-year… Read More