Tagged: neobank

June 23, 2021 @ 11:51 pm By Omar Faridi  |  

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

June 6, 2021 @ 10:37 pm By Omar Faridi  |  

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

May 27, 2021 @ 11:47 pm By Omar Faridi  |  

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

May 11, 2021 @ 9:32 am By Samantha Hurst  |  

  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

May 3, 2021 @ 7:53 am By Omar Faridi  |  

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

May 2, 2021 @ 11:09 pm By Omar Faridi  |  

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

April 28, 2021 @ 10:20 am By Samantha Hurst  |  

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

April 7, 2021 @ 12:05 pm By Samantha Hurst  |  

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

March 22, 2021 @ 10:52 pm By Omar Faridi  |  

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

March 20, 2021 @ 9:45 am By Omar Faridi  |  

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

March 10, 2021 @ 2:04 pm By Samantha Hurst  |  

  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

March 2, 2021 @ 3:59 pm By Samantha Hurst  |  

    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

March 1, 2021 @ 11:42 am By Samantha Hurst  |  

  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

February 20, 2021 @ 11:10 am By Omar Faridi  |  

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

February 17, 2021 @ 7:05 pm By Omar Faridi  |  

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

February 12, 2021 @ 8:26 am By Samantha Hurst  |  

  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

February 9, 2021 @ 12:16 pm By Samantha Hurst  |  

  Fair, a multilingual neobank and financial services platform, announced on Tuesday it secured $20 million and is planning to open early bird membership enrollment in March, with a public launch in April.  Fair describes itself as a pro-consumer, equity-based, mobile-first alternative to traditional banking…. Read More

February 5, 2021 @ 8:22 am By Samantha Hurst  |  

XTM, a Canada-based fintech that provides mobile banking and payment card solutions, announced on Friday it is set to launch its payment solution as a continuation of the Black Fox restaurant management tracking app. According to XTM, BlackFox is an application developed exclusively for restaurant… Read More

January 26, 2021 @ 11:17 pm By Omar Faridi  |  

The digital banking sector in South America has been growing steadily, with now over 30 neobanks in the region. Digital banking platforms currently serve more than 50 million consumers out of the region’s (approximately) 430 million residents, according to the latest data from Dutch Fintech… Read More

January 26, 2021 @ 10:13 pm By Omar Faridi  |  

UK-based challenger bank Monzo is reportedly struggling to maintain operations and may be trying to avoid the same fate as digital bank Xinja which was recently forced to shut down permanently. Fintech analyst Katherine Long from GlobalData recently noted that Monzo has turned into an… Read More