Tagged: digital banking

January 2, 2020 @ 7:45 am By Omar Faridi  |  

A consortium, which includes Fintech firm Razer and the founders of Sheng Siong, has reportedly filed an application for obtaining a digital full-bank license in Singapore. The application notes that the consortium wants to mainly focus on the “underserved youth and millennials segment.” Insurance business… Read More

December 31, 2019 @ 12:24 pm By Samantha Hurst  |  

UK-digital challenger bank Monzo announced this week an update about the U.S. Beta launch. The banking startup revealed that from August until November it ran small, in-person community events in San Francisco, NYC, Las Vegas, and LA. the company then gave 1,000 users early access… Read More

December 30, 2019 @ 9:34 am By Omar Faridi  |  

The National Bank of Oman (NBO), the first local bank and one of the largest financial institutions in the Middle Eastern country of Oman, has been awarded Best Mobile Banking Application – Oman 2019 by the International Finance Magazine. The bank has also received various… Read More

December 24, 2019 @ 11:08 am By Omar Faridi  |  

SoftBank Group-backed Grab Financial Group will reportedly be applying for an online banking license in Singapore, as the company believes that financial businesses will be a key driver for its future growth and development. If Grab manages to acquire the license, then consumers and small… Read More

December 23, 2019 @ 5:32 pm By Omar Faridi  |  

ZA Bank Ltd. is reportedly testing internet-only banking solutions in Hong Kong, which notably makes it the first organization to provide such services in the city as the Asian financial hub continues to promote the development of Fintech-related projects. The Hong Kong Monetary Authority began… Read More

December 23, 2019 @ 10:20 am By Samantha Hurst  |  

Rebank, a UK-based digital business banking platform, announced last week it secured $2.7 million through its latest seed funding round, which was led by ADV with participation from Y Combinator and Jude Gomila, the CEO and Founder of the startup Golden. Founded in 2018, Rebank… Read More

December 19, 2019 @ 9:35 pm By Samantha Hurst  |  

Digital-only bank platform N26 recently announced it has launched its premium accounts N26 You, Metal, and Business You in Greece. According to N26, N26 You, Business You and Metal memberships come with features to help make everyday life as easy as possible, like travel insurance,… Read More

December 19, 2019 @ 8:25 am By Samantha Hurst  |  

UK-based digital banking platform Starling Bank announced on Wednesday it has expanded its business Marketplace with the addition of cloud-based accounting software provider Intuit QuickBooks. The service will give the bank’s 90,000 business customers a link between their bank account activity and their accounting package…. Read More

December 17, 2019 @ 7:07 am By Omar Faridi  |  

South Korea-based Viva Republica, a Fintech firm that developed Toss, a financial services platform, has been given preliminary approval for an online banking license from the Financial Services Commission of Korea, according to a December 16 release. SG Lee, CEO at Viva Republica, stated: “Toss… Read More

December 16, 2019 @ 10:44 pm By Samantha Hurst  |  

UK-based digital banking platform Starling Bank announced on Monday it is revising its overdraft pricing on personal current accounts, replacing its flat rate of 15% with a rate of 15%, 25% or 35% Equivalent Annual Rate (EAR) (variable), dependent on customers’ credit scores, which is… Read More

December 14, 2019 @ 1:41 am By Omar Faridi  |  

UK-based digital bank Metro Bank Plc recently revealed that it has teamed up with Canadian Fintech firm Sensibill in order to test out an app-based online receipt system made for small businesses. Metro bank notes that it’s inviting small business owners to take part in… Read More

December 7, 2019 @ 6:33 pm By Omar Faridi  |  

Online banking app provider Monese is now offering joint accounts to clients in the UK and the European Economic Area. Customers that need a shared account to manage their finances will have the option to open new accounts with friends, their partners, and roommates and… Read More

December 3, 2019 @ 8:03 am By Samantha Hurst  |  

Credorax, a fintech bank and smart payments provider, announced on Tuesday it has teamed up with Raisin to offer retail deposits to Raisin customers in Germany. Credorax reported that the partnership marks the launch of its first banking products in the region. “Through this partnership,… Read More

December 2, 2019 @ 7:23 am By Samantha Hurst  |  

UK-based digital banking group Monzo recently announced it is offering Google Pay options for users as they wait for their debit card replacements. The new option will allow users to continue using their Monzo services until their card arrives. “When you lose your Monzo card… Read More

November 27, 2019 @ 2:28 pm By Samantha Hurst  |  

UK banking group NatWest announced on Wednesday the launch of its digital bank, Bó. According to Natwest, Bó is a digital bank that was created to help people “do money better.” The service features a bright yellow Visa card, as well as a mobile app. Natwest… Read More

November 26, 2019 @ 7:36 am By Omar Faridi  |  

Following its successful launch in France, Orange Bank is further expanding its global operations with the introduction of a new branch in Spain. The financial institution aims to solidify its multi-service, diversification strategy by providing new mobile-based banking services. Launched on November 25, 2015 in… Read More

November 26, 2019 @ 12:36 am By Omar Faridi  |  

Bank ABC revealed on November 24 that it has introduced “ila” Bank, as the institution prepares to enter the digital, mobile-only banking sector, beginning with the Middle Eastern country of Bahrain. The initiative’s roadmap involves promoting the new platform across the Middle East and North… Read More

November 25, 2019 @ 4:44 pm By Omar Faridi  |  

Several digital banks have been launched in Australia during the past few years. However, these direct banks that are 100% digital currently face challenges around awareness and consumer trust. This, despite millions of customers being dissatisfied with traditional banking services, according to the latest research… Read More

November 25, 2019 @ 12:20 pm By Omar Faridi  |  

Offering more mobility and quicker financial services, challenger banks appear to be destined for success, however, the Irish consumers’ trust in new technology seems to be a major challenge to mass adoption. This, according to Fujitsu’s latest “From Demanding to Discerning: Tech and the New… Read More

November 25, 2019 @ 7:59 am By JD Alois  |  

As predicted last week, online broker Charles Schwab (NYSE:SCHW) has announced the purchase of TD Ameritrade (NASDAQ:AMTD) in a deal worth $26 billion. According to Schwab, the all-stock transaction represents a 17% premium of TD Ameritrade’s average share price as of November 20, 2019. Shares… Read More