Tagged: digital banking

April 1, 2020 @ 11:38 am By Omar Faridi  |  

Iceland-based banking challenger indó has secured €1 million in seed funding from several angel investors. As mentioned on its official website: “indó is the first Icelandic bank in decades. We want to make a difference by offering you 100% safe deposits. We will offer you… Read More

April 1, 2020 @ 2:03 am By JD Alois  |  

Digital bank Starling Bank is now offering an “overdraft interest holiday” to personal account holders who are struggling financially due to the COVID-19 crisis. Starling Bank customers may apply for a three month interest holiday beginning today (Apri 1, 2020). Effectively, Starling will waive all… Read More

March 31, 2020 @ 11:30 am By Samantha Hurst  |  

Dzing, a UK-based electric money and payment institution, announced on Tuesday the launch of its mobile payments app. According to the fintech startup, the app allows international students, remote freelancers, oversea workers, and travelers to conduct financial services. Founded in 2018, Dzing describes itself as… Read More

March 31, 2020 @ 10:36 am By Omar Faridi  |  

One, a digital banking startup that aims to provide financial services mainly intended for middle class workers, has chosen Finxact, which is a leading software-as-a-service (SaaS)-based core banking solution. Established by Bill Harris, the former CEO at PayPal and Intuit, One will use Finaxct to… Read More

March 30, 2020 @ 11:32 pm By Omar Faridi  |  

After performing an extensive vendor evaluation, Next Commercial Bank (NCB), Taiwan’s first all-digital bank, has introduced Kamakura Corporation’s proprietary solutions for risk management. NCB’s management says that a modular and integrated software solution can offer clear advantages over disparate systems by reducing operational costs and… Read More

March 30, 2020 @ 5:53 pm By Omar Faridi  |  

Digital bank 86 400 has confirmed that it has recently appointed two new business development managers in order to expand its presence in the mortgage broking sector. Hien Nguyen, a former FAST partnership manager, and Zac Harb, ME Bank’s key account manager, have reportedly joined… Read More

March 30, 2020 @ 8:26 am By Samantha Hurst  |  

Sony Bank, a Japanese commercial banking group and a subsidiary of Sony Financial, a member of the Japanese electronics giant Sony,  announced on Monday the launch of its new “English Online Banking” services. According to Sony Bank, the new banking services will provide foreign residents in… Read More

March 30, 2020 @ 8:01 am By Omar Faridi  |  

Yves Roesti, Sean Huang, Xuna Shao and Joshua Choy from Synpulse, a financial services consulting company, point out that most digital banks were launched without physical branch locations. What makes neobanks stand out from incumbents is their ability to leverage technology to differentiate their product… Read More

March 30, 2020 @ 8:01 am By Samantha Hurst  |  

India-based banking group Icici Bank announced on Monday it has launched its banking services on WhatsApp in oder to enable retail customers to undertake in a “slew of banking requirements” from their home.  Anup Bagchi, Executive Director, ICICI Bank, stated that through WhatsApp, retail customers may… Read More

March 30, 2020 @ 7:44 am By Omar Faridi  |  

Challenger bank Virgin Money is reportedly evaluating its plans to shut down its physical branch locations as lenders begin to increasingly focus on reducing the potentially negative impact of an economic downturn, resulting from the coronavirus (COVID-19) outbreak. Hundreds of jobs, which had been created… Read More

March 29, 2020 @ 10:37 pm By Samantha Hurst  |  

Challenger bank Tandem recently announced its continuous support its customers during the COVID-19 pandemic. The fintech reassured the customers that while the UK is social distancing and it as a company is working from home to ensure its employees’ safety, its customer support team is… Read More

March 29, 2020 @ 3:26 pm By Omar Faridi  |  

Brett King established Movenbank back in 2011. At the time, it was one of the world’s very first mobile-only, low-fee banking services. Movenbank offered a convenient and intuitive banking app that allowed users to take care of their day-to-day financial transactions. King won the Innovator… Read More

March 27, 2020 @ 6:06 pm By Omar Faridi  |  

National Bank of Oman (NBO), one of the largest financial institutions in the country and its first local bank, aims to raise awareness regarding the importance of practicing safe banking during the coronavirus (COVID-19) outbreak. The NBO has taken several measures to ensure its clients… Read More

March 27, 2020 @ 11:36 am By Samantha Hurst  |  

UK-based digital banking group Starling Bank announced on Thursday it has introduced a delay to its in-app gambling-block, which means that customers wanting to turn the block off will have to wait 48 hours before they may reactive spending on betting and gaming. The digital… Read More

March 27, 2020 @ 9:00 am By Omar Faridi  |  

Lanistar, a new challenger bank, has officially launched its platform after acquiring £2 million in seed funding. Based in Hammersmith, Lanistar reportedly has 45 full-time workers on its payroll. The digital bank plans to add 150 more staff members. The neobank has been founded by… Read More

March 26, 2020 @ 6:31 pm By Omar Faridi  |  

Singapore-based Fintech company MatchMove has partnered with local finance firm, Singapura Finance Ltd., and two others, in order to apply for a virtual banking license in the city-state. The MatchMove-led consortium is the most recent group to reveal that it has filed an application for… Read More

March 26, 2020 @ 8:21 am By Omar Faridi  |  

Most small and medium-sized enterprises (SMEs) continue to prefer and work with traditional financial service providers, even though there are now many new digital-first businesses. This, according to Revolut Business, which has published a report, titled “2020 Vision: Taking a closer look at antiquated banking… Read More

March 25, 2020 @ 8:51 pm By Omar Faridi  |  

Nearly 65% of Singapore residents say they would consider working with an all-digital bank, according to the recently published Visa Consumer Payment Attitudes Study. The study reveals that 84% of Singapore-based respondents said that they’d be willing to use virtual banking services offered by an… Read More

March 25, 2020 @ 7:35 am By Omar Faridi  |  

Canada-based NorthOne, an established digital bank for small businesses, has decided to waive all account fees for thousands of its customers that have been affected by the coronavirus (COVID-19) outbreak. NorthOne’s management confirmed that it will be offering free banking services to all businesses in… Read More

March 24, 2020 @ 2:03 pm By Omar Faridi  |  

Dubai’s World Investments is reportedly investing $433 million in Australia-based digital bank Xinja over the next couple years. This, after the mobile-first bank’s steady customer growth. Subject to pending regulatory approvals, Xinja bank will be able to access $160 million in capital immediately. The remaining… Read More