Tagged: digital banking

January 12, 2021 @ 9:18 am By Samantha Hurst  |  

  Curve, a banking platform that consolidates multiple cards and accounts into one smart card and even smarter app, announced on Monday it secured $95 million as part of its Series C investment round. According to Curve, the round was led by IDC Ventures, Fuel… Read More

January 11, 2021 @ 8:12 am By Omar Faridi  |  

Prominent digital bank Revolut is expecting half of its clients to deposit their salaries and switch over to Revolut as their main bank account provider, after the Fintech challenger has acquired a banking license. Revolut issued a statement earlier today stating it has submitted its… Read More

January 7, 2021 @ 8:39 am By Omar Faridi  |  

Fintech companies such as Revolut and Luno are experiencing a dramatic surge in demand from customers who are rushing to invest in Bitcoin (BTC) and other digital currencies amid record-breaking and unprecedented cryptocurrency price increases. Fintech app providers that offer crypto trading, like Revolut, eToro,… Read More

January 6, 2021 @ 10:26 pm By JD Alois  |  

The Norwegian Block Exchange, founded by Bjørn Kjos, who also founded Norwegian Airlines and Bank Norwegian, has received a 60 million NOK investment (USD$ $7.135 million). According to a note by Oslo based NBX, the funding will provide the financial robustness to pursue a banking… Read More

January 6, 2021 @ 9:49 am By Samantha Hurst  |  

Green Dot Corp. (NYSE: GDOT), a fintech and registered bank holding company, announced on Wednesday the launch of its new banking product. GO2bank. According to Green Dot, Go2Bank is designed to help the two in three Americans living paycheck to paycheck stretch their money further… Read More

January 5, 2021 @ 2:29 pm By Samantha Hurst  |  

  Oxbury Bank, a UK-based agricultural bank, is reportedly set to launch its banking platform. The banking group is notably planning to launch its platform after securing £15 million from the Duke of Westminister’s Wheatsheaf Group. Founded in 2018, Oxbury claims it is building the… Read More

January 4, 2021 @ 8:17 pm By Omar Faridi  |  

Asia might be getting ready to experience a digital banking revolution. During the next few years, the continent is expected to see over 50 new digital banks that could completely transform the financial services sector. GFT’s Christopher Ortiz claims that these developments may just be… Read More

January 4, 2021 @ 9:00 am By JD Alois  |  

Oxygen, an early-stage digital bank, has closed on a $17 million Series A round led by Runa Capital. The funding round included participation from S7V, 1984.vc, EFG Hermes, Rucker Park, and Inventures. Several high profile individual investors participated in the offering including Frank Strauss, Global… Read More

January 4, 2021 @ 7:42 am By Omar Faridi  |  

Digital bank Revolut has reportedly outpaced competitors Monzo and Starling in terms of the number of downloads during 2020. Notably, Revolut saw more app downloads last year than Monzo and Starling Bank combined. As first reported by the Telegraph, Revolut’s online banking app grew more… Read More

January 3, 2021 @ 8:40 pm By Omar Faridi  |  

Chase Bank has published the findings of its Digital Banking Attitudes Study— which was compiled after conducting a national survey of 1,500 consumers. The survey’s participants were asked about their preferences when accessing digital banking services. Consumers of all age different groups noted that these… Read More

January 3, 2021 @ 5:27 pm By Omar Faridi  |  

Chime Financial Inc., a US-based banking challenger valued at around $14.5 billion, has confirmed that stimulus payments are coming and they’ve “got your back” with SpotMe. The digital bank acknowledged that “a lot has changed” since the first round of stimulus payments were made back… Read More

January 2, 2021 @ 7:03 pm By Omar Faridi  |  

Malaysia’s reserve bank, Bank Negara, has released its policy document on digital banks. The Malaysian central bank’s new document on the licensing framework for all-digital banks has been published after completing a 6-month public consultation. Bank Negara officials stated on December 31, 2020, that the… Read More

January 2, 2021 @ 4:05 pm By Omar Faridi  |  

As the COVID-19 pandemic continues to affect billions of people globally, digital platforms remain the most accessible and safest way for many consumers to take care of their daily tasks including banking. New users have had a lot of time during the Coronavirus crisis to… Read More

January 2, 2021 @ 5:18 am By Omar Faridi  |  

Last year, we saw many banking challengers offering services to customers who might not have been satisfied with their traditional bank. Many more people also began to use online banking services due to the COVID-19 pandemic which forced many physical business locations to shut down…. Read More

December 31, 2020 @ 9:31 am By Samantha Hurst  |  

  Nordic banking group Nordea recently announced it has joined Partnership for Carbon Accounting Financials (PCAF) in order to strengthen its work to track and measure its climate change risks and impacts. “Banks play a crucial role in combatting the impacts of climate change and enabling… Read More

December 31, 2020 @ 8:59 am By Omar Faridi  |  

European digital banks have experienced significant challenges this year. Many have continued to record substantial losses and have received complaints from clients regarding service-related issues. Investors have been pushing banking challengers to show them how they can generate sizable profits by effectively monetizing their products… Read More

December 27, 2020 @ 10:10 pm By Omar Faridi  |  

Dutch banking challenger Bunq has reportedly managed to grow its mortgage portfolio by 400% within six months. Bunq began offering mortgages to Dutch clients in July 2020. The digital bank has teamed up with third-party broker, asset manager NN IP, in order to provide these… Read More

December 27, 2020 @ 12:43 pm By Omar Faridi  |  

Zopa, formerly a peer to peer lender and now a regulated digital bank, is planning to generate sizable profits in 2021. Jaidev Janardana, CEO at Zopa, will aim to leverage his 15 years+ of experience working in the lending sector to give the platform a… Read More

December 26, 2020 @ 1:02 pm By Omar Faridi  |  

Varo Money, Inc., the first consumer Fintech in the US to become a chartered national bank, recently explained how they’re building a better banking platform. Philippa Girling, Chief Risk Officer at Varo Money, noted that she’d been working in the banking industry for the past… Read More

December 26, 2020 @ 11:35 am By Omar Faridi  |  

Digital bank Revolut notes in its end of year review that “it goes without saying that 2020 has been a year like no other.” It has definitely impacted all our lives, including how we spend our money and the way we save, the Fintech firm… Read More