Tagged: digital banking

January 21, 2020 @ 7:35 am By Samantha Hurst  |  

India-based banking group Icici Bank announced on the launch of its Cardless Cash Withdrawal feature from ATMs. The bank reported this service enables customers to withdraw cash from more than 15,000 ATMs of the bank by simply raising a request on iMobile, Icici Bank’s mobile… Read More

January 20, 2020 @ 10:36 pm By Omar Faridi  |  

TSB has confirmed that it will establish a new IT center based in Edinburgh, in order to support the launch of digital banking services, as part of a £120 million (appr. $156 million) investment – which is expected to create around 100 new technology jobs,… Read More

January 20, 2020 @ 4:27 pm By Samantha Hurst  |  

Tink, a Sweden-based fintech that provides APIs to create next-generation banking services, announced on Monday it secured €90 million through its latest investment round, which was co-led by Dawn Capital, HMI Capital, and Insight Partners. The latest funding comes less than a year after Tink… Read More

January 20, 2020 @ 1:14 pm By Samantha Hurst  |  

Banking group DBS announced on Monday it has launched a new solution to transform cash and paper-based B2B payments and collections landscape for businesses in Singapore. The bank reported its QR-code based solution is powered by DBS RAPID and DBS MAX and addresses Singapore’s aim… Read More

January 20, 2020 @ 8:25 am By Omar Faridi  |  

Volt, one of Australia’s first neobanks to have received a full operational license in the country, has reportedly secured an additional $70 million in investments. Steve Weston, co-founder and CEO at Volt, stated: “The high levels of interest we are receiving from potential banking partners… Read More

January 19, 2020 @ 11:06 pm By Samantha Hurst  |  

UK-based digital banking group Monzo announced last week it will be now be reporting to Experian. The company revealed that it previously just reported to TransUnion. “Although we’ve started sharing information with Experian, it’ll take a month or two for Monzo to appear on your… Read More

January 19, 2020 @ 7:58 am By Omar Faridi  |  

The challenger bank trend first began in Europe and has been gradually spreading to other parts of the world. Traditional banking challengers have been growing steadily and have managed to attract large investments. FT Partners’ new report, titled The Rise of Challenger Banks: Are the… Read More

January 15, 2020 @ 7:49 am By Omar Faridi  |  

Netherlands-based Backbase has introduced its new managed cloud platform Backbase-as-a-Service (BaaS). It provides financial institutions access to the firm’s entire portfolio, which consists of various banking products and innovation tools. The online banking software developer officially launched the product at Backbase Connect, the firm’s annual… Read More

January 14, 2020 @ 7:47 am By Samantha Hurst  |  

BBVA, a Spanish multinational banking group, announced on Tuesday it has partnered with the authentication solutions company Nok Nok Labs to further strengthen the use of biometric authentication on its mobile banking services. BBVA reported that through this agreement, Nok Nok will provide BBVA with… Read More

January 13, 2020 @ 2:26 pm By Samantha Hurst  |  

Goldman Sachs (NYSE: GS) has launched a mobile app for its digital banking service, Marcus.  The fact that such a prominent entrant into the digital bank sector has existed minus an App has long been a shortcoming of the Fintech. Goldman Sachs spokeswoman, Kristen Greco,… Read More

January 13, 2020 @ 8:13 am By Omar Faridi  |  

The first of Hong Kong’s upcoming group of virtual banks has confirmed its launch with a 6% special introductory rate on all deposits. ZA Bank Ltd., which is notably one of eight companies planning to establish digital-only banking services in Hong Kong, has launched a… Read More

January 13, 2020 @ 7:51 am By Samantha Hurst  |  

UK-based digital banking group Starling Bank announced on Monday it supercharging its bank accounts for businesses and sole traders with a range of new features, which includes unsecured loans of up to £250,000, an increase in its overdraft limits from £10,000 to £150,000, more competitive… Read More

January 12, 2020 @ 10:42 pm By Samantha Hurst  |  

UK-based digital banking group Monzo celebrated the new year by sharing the successes of the past twelve months. The fintech revealed it started last January with just over a million customers, and now, over 3.6 million people bank with its platform. The company has since… Read More

January 12, 2020 @ 8:53 am By Omar Faridi  |  

Thailand is currently laying the groundwork for standalone or independently-functioning online banks as the Southeast Asian nation tries to catch up with other nearby markets that have been upgrading their banking infrastructure. Veerathai Santiprabhob, governor of the Bank of Thailand, noted during a recent interview:… Read More

January 12, 2020 @ 7:27 am By Omar Faridi  |  

The Bank of Ceylon (BoC), a state-owned, major commercial bank in Sri Lanka, is reportedly expanding its branch network to include Andigama and Weerapokuna with the added convenience of offering 24-hour online banking services to the people living in these areas. BoC’s Weerapokuna location is… Read More

January 9, 2020 @ 6:55 am By Omar Faridi  |  

Qonto, a neo-bank for business account holders that was established in France in 2017, has expanded its operations into Germany, Italy, and Spain. Notably, Qonto was the recipient of the first investment by billionaire Peter Thiel’s Valar Ventures in France during its Series A funding… Read More

January 8, 2020 @ 10:04 am By Samantha Hurst  |  

Northmill, a Fintech based in Sweden, announced on Tuesday the launch of its savings accounts with deposit insurance, called Rebilla Reserve. This news comes just a few months after the company received its banking license from the Swedish Financial Supervisory Authority (SFSA or Finansinspektionen). While… Read More

January 7, 2020 @ 8:09 pm By Omar Faridi  |  

The ongoing race and competition between local Fintech firms for acquiring a digital banking license in Malaysia continues to intensify, particularly after Bank Negara Malaysia (BNM), the nation’s central bank, revealed additional details regarding the licensing process. BNM’s Exposure Draft on Licensing Framework for Digital… Read More

January 6, 2020 @ 8:30 am By Omar Faridi  |  

The Singapore Business Federation (SBF) will reportedly be joining a consortium that’s led by Ron Sim‘s V3 Group (a brand creator and developer and an Asian luxury group in the lifestyle and wellness markets) and EZ-Link, a stored-card operator that is planning to acquire a… Read More

January 4, 2020 @ 8:49 am By Omar Faridi  |  

Online app bank Koto Card says it’s preparing to launch in the United Kingdom this month. The digital banking app will let users apply for a free prepaid card and borrow as much as £400 (appr. $523) at one time, while paying 25p per day… Read More