Tagged: neobank

Neobank Dave joins American Fintech Council

Neobank Dave this week announced it has joined the American Fintech Council, an industry association representing fintech companies and banks. Dave partners with Evolve Bank & Trust, an FDIC member. “Our members are setting the standard for the responsible use of innovation to increase competition in… Read More

Digital Bank Grasshopper Reports Steady Business Growth

Grasshopper, the digital bank built for the business and innovation economy, announced it closed 2023 with strong revenue growth and marked milestones across multiple channels, including significant growth “in new client onboarding, on-going enhancements to the client experience, new products, and the continued commitment to… Read More

Neobank Dave Repurchases Convertible Note Owned by FTX Ventures

As was previously announced, Neobank Dave (Nasdaq: DAVE) has repurchased a convertible note that was held by FTX Ventures, the VC arm of FTX, initially funded with $2 billion. In a public statement Dave noted the original principle amount was $100 million with a purchase… Read More

Canadian Fintech Koho Pursue Banking License

Koho, a Canadian Fintech, says it is moving forward with its pursuit of a banking license. According to a note from the firm, Koho has entered the “next phase” of securing approval from regulators. Koho currently offers a spending and savings account and an integrated… Read More

UK Neobank Science Card Teams Up with UCL Mechanical Engineering to Acquire Research Funding

UK neobank Science Card collaborates with UCL Mechanical Engineering to generate research funding for neurodegenerative diseases. Science Card, the home of Britain’s e-money current accounts dedicated to accelerating science and innovation, has announced the launch on its platform of a research project on neurodegenerative diseases,… Read More

Aisera, a Generative AI Solutions Provider, and Neobank Dave Introduce New Product to Enhance UX

Aisera, a pioneer of Generative AI solutions for the enterprise, announced that Dave Inc. (Nasdaq: DAVE), one of the nation’s neobanks, has “leveraged Aisera’s technology to create DaveGPT – a generative AI assistant that offers self-service customer inquiry resolution.” Customized to Dave’s specific business needs,… Read More

Upgrade Introduces Secured OneCard, CEO Renaud Laplanche Still Says No Bank Charter on the Horizon

Upgrade has announced a new type of card – a “secured credit card,” the Secured OneCard, that aims to support individuals who struggle to get credit or underbanked individuals. In a company statement, Upgrade said the new product will incorporate a savings account that will… Read More

Neobank Bluevine Reports that Deposits Have Topped $1 Billion

Neobank Bluevine is reporting that it has topped $1 billion in deposits for its SME banking customers. The Fintech provides FDIC-covered accounts in partnership with Coastal Community Bank. Lines of credit are issued by Celtic Bank, a Utah-chartered Industrial Bank. Bluevines states that accounts have… Read More

UK Neobank Science Card Announces Scientific Research Initiative with Kingston University

Kingston University is collaborating with UK neobank Science Card in order “to drive major breakthrough in cervical cancer treatment.” Science Card claims that it is creating “a unique science funding infrastructure by collaborating with UK universities to enable users of its socially-conscious e-money current account… Read More

UK’s OakNorth Bank Research: Scale-up Firms Make Up 1% of SMEs, but Contribute £500B to Economy

OakNorth, the neobank for entrepreneurs, by entrepreneurs, has today published new research with the Social Market Foundation, a cross-party think tank, revealing the outsized impact of scale-up businesses1 on the UK economy by region, country, and sector. The new report, titled ‘The Scale of the… Read More

Martin Kassing, CEO at Upvest: Financial Industry Professional Reveals Why Fintech B2B Infrastructure Sector Is Growing Steadily

We recently caught up with Martin Kassing, the CEO and founder at Upvest, a Berlin-based Fintech that aims to make investing more accessible by enabling neobanks, asset managers, and incumbent banks to provide their customers with any type of investment product. With Upvest’s Investment API,… Read More

UK’s OakNorth Bank Increases Support for Entrepreneurs with Business Banking Offering

OakNorth, a UK digital bank, says it has launched its business banking services, aimed at “helping mid-sized businesses (revenue of £1m-£100m) that are currently overlooked and underserved in the UK’s current financial landscape.” OakNorth is authorized and regulated by the Prudential Regulation Authority and the… Read More

Philippines based Neobank Tonik Introduces Insurance Services

Tonik, the digital bank in the Philippines, is pleased to announce its newest strategic partnership with life insurance company Sun Life Grepa Financial, Inc.. This transformative collaboration aims “to enhance the financial well-being of the companies’ valued customers.” The focal point of this groundbreaking partnership… Read More

European Regtech Fourthline Expands Operations to France with Neobank Shine

Founded in 2017 in the Netherlands, Fourthline has developed a technological suite that enables financial service providers to automatically and compliantly perform KYC (Know Your Customer) and AML (Anti-Money Laundering) procedures in accordance with local requirements. Fourthline offers a single API “to streamline the onboarding… Read More

Scottish Digital Bank Alba to Migrate to Mambu’s Cloud Banking Platform to Manage SME Lending Services

Scottish digital bank Alba Bank announced that it will migrate to Mambu’s cloud banking platform to manage its small and medium-sized enterprise (SME) lending services, as well as its retail and business deposits. Alba bank has been approved for a UK banking licence. Alba Bank… Read More

Neobank Dave Amends Credit Facility to Increase Capacity, Advance Rate, Reduce Cost of Funds, Extend Maturity

Dave Inc. (Nasdaq: DAVE), one of the nation’s neobanks, has amended its existing Delayed Draw Senior Secured Loan Facility with Victory Park Capital Advisors, LLC, effective September 13, 2023. The amendment to the Credit Facility accomplishes the following: Increases the total size by $50 million… Read More

Neobank Dave Appoints Joan Aristei as Chief Legal Officer

Dave Inc. (Nasdaq: DAVE), one of the nation’s leading neobanks, announced that John Ricci, General Counsel, will retire on September 29, 2023. Joan Aristei has been “named Chief Legal Officer, effective September 25, 2023.” Previously serving in both private and public sectors during his nearly… Read More

Fintech Upgrade to Offer Auto Loans

Upgrade, a neobank founded by noted Fintech entrepreneur Renaud Laplanche, has launched auto loans as a new credit offering. In an email from a company representative, Upgrade explained that the “full spectrum” auto lending product will serve all types of consumers from 580 to 850… Read More

Philippines based Neobank Tonik, FC Home Center to Support Shop Installment Loans

The Philippines’ First Neobank Tonik Digital Bank is pleased to announce the launch of its Shop Installment Loan to FC Home Center stores. The partnership pushes to “enhance the shopping experience of customers in the consumer durables market.” Customers will now have “access to 15-minute… Read More

Neobank Zolve Aims to Serve Expat Community, Bundles with Mobile Plan

Zolve, a new Neobank aiming to serve expatriates, has launched its own mobile service called Zolve Connect. Zolve states that expats attending university or working in the US can launch a phone plan from the Zolve App. The company believes that by binding financial services… Read More

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