Tagged: neobank

Challenger Banks to Add 435M Accounts By 2026: Report

A new report from ABI Research predicts neobanks and challenger banks will nearly quadruple their number of accounts over the next five years The top 57 neo and challenger banks should grow their accounts from the 2020s 155 million to 590.6 million by 2026 due… Read More

India based Neobanking Fintech Razorpay Explains how RazorpayX Payroll Automates All Things Payroll

Indian neobank Razorpay recently shared payroll compliance mistakes that businesses should try to avoid. The RazorPay team explains that payroll compliance is one of the “most important” processes a business performs so that it can maintain operations. All businesses in India and globally have to… Read More

Australia’s Neobank Volt to Acquire Neo-lending Platform Australian Mortgage

Australia’s first neobank Volt has reportedly acquired neo-lending platform Australian Mortgage, enabling it to provide “fully-verified” approval times of less than 15 minutes on its new digital mortgage product. As mentioned in a release shared with CI: “This is a material improvement compared to many… Read More

Philippines based Digital Banking Platform Netbank Joins Mastercard Fintech Express Program

Philippines-based neobank Netbank reveals that it has decided to join the Mastercard Fintech Express program which should allow it to access a wide range of all-digital products. Netbank will also be able to issue debit and credit cards under its partners’ brands. Through the partnership… Read More

Neobanking Platform Yapeal Now Offering Clients in Switzerland a New Cross-Border Payments Service via Wise

Neobanking platform Yapeal has started offering cross-border money transfers to its clients through Fintech Wise (formerly Transferwise and now pursuing listing on the LSE). Through the partnership, Yapeal will work with Wise to make cross-border transactions fast, simple, and cheap for their app’s users. Wise,… Read More

BaaS Fintech Netbank Launches in Philippines, Platform Is Fully Regulated with Rural Banking License

Earlier this week, Philippines-based Netbank, a banking as a service (BaaS) platform, went live in the Southeast Asian country. Netbank has reportedly been developed by an experienced team of international and local banking professionals. Like the country’s digital bank Tonik, Netbank is a fully regulated banking… Read More

Indian Fintech Razorpay Explains how its Instant Settlements Helps SMEs Quickly Access Working Capital

Indian neobank Razorpay notes in a blog post that we are living in a world with “ever-increasing” consumer expectations and “endless options” to choose from these days. The Razorpay team points out that competition among businesses has been increasing over the years. This has helped… Read More

The Philippines-Based Neobank Tonik Secures $17 Million in Pre-Series B Funding Round Led By iGlobal Partners

  Tonik, a neobanking group based in the Philippines, announced on Tuesday it secured $17 million through its Pre-Series B investment round, which was led by iGlobal Partners with participation from Sequoia India, Altara Ventures, and Insignia Venture Partners, Citius, Baring Vostok Private Equity, and… Read More

Fintech Finastra’s Fusion Cloud Core Banking Helps Firms Quickly Deploy Digital-First Banks, Company Exec Explains

The Coronavirus crisis has accelerated digital transformation across the world, including the APAC region, which has resulted in many bank branch closures. There’s also been a significant increase in retail banking activities that’s supported by all-digital challenger banks. These virtual banks are digital-first and are… Read More

Philippines based Digital Bank Tonik Reports $20M+ in Deposits in Less than A Month After Launch, Announces Partnership with PESONet

Earlier this week, Philippines based digital bank Tonik partnered with PESONet in order to support safe and secure digital fund transfers to its account from other banking service providers. Tonik clients now have the option to send money from a PESONet participating bank directly to… Read More

Greece Neobank Startup Viva Wallet Reportedly Secures $80 Million Through Latest Investment Round

Viva Wallet, a Greece-based neobank startup, has reportedly secured $80 million through its latest investment round. The company raised €500 million in capital to support its virtual banking business this previous summer. Founded in 2010, Viva Wallet describes itself as a European fintech disruptor on a… Read More

U.S. Fintech Avant Acquires Zero Financial & Level

U.S. fintech Avant announced on Wednesday it has completed the acquisition of Zero Financial and neobank Level. Avant reported the acquisition of Level will allow it to expand its reach by offering digital banking experiences to its American customers. According to Avant, Level offers cashback… Read More

Asian Digital Banking Challenger Tonik Launches Very First Neobank in the Philippines, Offering Competitive Deposit Rates

Southeast Asia-based all-digital banking challenger Tonik has officially launched the first neobank in the Philippines. Tonik is regulated by the Bangko Sentral ng Pilipinas (BSP), the nation’s central bank. Tonik’s deposits will reportedly be insured by the Philippine Deposit Insurance Corporation (PDIC). The digital banking… Read More

Indian Neobank Razorpay Provides Updates on Local and Global Digital Banking and Fintech Ecosystem

Indian neobank Razorpay points out that it seems like banks have been “around forever.” In India, for example, the history of banking “dates way back to 1750 BC,” the company reveals. It also mentions that we’ve traditionally or historically been dependent on banking institutions for… Read More

Neobank OnJuno Teams Up With Fintel Connect For Affiliate Program

  OnJuno, a San-Francisco based neobank, announced on Wednesday it has launched its affiliate program with Fintel Connect. Founded in 2019, OnJuno offers a checking account that features the highest returns on deposit in its market. Its programs feature cashback options with major retailers such… Read More

Bitpanda Joins Forces With Contis to Launch New Visa Debit Card

    Austria-based digital investment platform  Bitpanda announced on Tuesday it has joined forces with payment processing platform Contis to launch its new Visa debit card. Through the partnership, Bitpanda will be using Contis’ “zero balance” technology, which notably removed the need to liquidate assets… Read More

U.S. Neobank First Boulevard Scores $5 Million Through Latest Seed Funding Round

  First Boulevard, a digitally native neobank that is focused on improving the financial livelihood of Black America, announced on Monday it raised $5 million through its latest seed funding round, which saw investments from a group of leading financial services investors including Barclays and… Read More

Digital Banking Challenger 86 400 Reveals that 74% of Aussies Admit to having Disagreements About Money Management with Partners

Digital banking challenger 86 400 reveals that almost three-quarters (74%) of Aussies “admit to having disagreements” regarding money matters with their partner. This, according to a recent survey from 86 400, which claims to be Australia’s first “smartbank.” The survey, which had been released in… Read More

Global Neobank Zolve Secures $15 Million in Capital via a Seed Round led by Accel and Lightspeed

Global digital bank Zolve has secured $15 million in capital through a seed funding round that was led by Accel & Lightspeed. Others who took part in Zolve’s investment round include Blume Ventures and several angel investors: Dr. Ashish Gupta (ex-Helion MD), Greg Kidd (angel… Read More

Sweden Neobank Northmill Bank Raises SEK 250 Million Through Recent Investment Round Led by M2 Asset Management

  Northmill Bank, a neobanking group based in Sweden, announced on Thursday it raised SEK 250 million through its latest investment round, which was led by M2 Asset Management, a Swedish investment company controlled by Rutger Arnhult, and the institutional investor and asset management firm… Read More

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