Tagged: neobank

January 26, 2021 @ 8:03 am By Omar Faridi  |  

Digital-only banking platform N26 has appointed a new Chief Financial Officer as Maximilian Tayenthal becomes the Fintech firm’s co-CEO. Dr. Jan Kemper is N26’s latest executive hire. Berlin-headquartered neobank N26 confirmed that it promoted company co-founder Maximilian Tayenthal to serve as co-CEO along with current… Read More

January 25, 2021 @ 8:17 pm By Omar Faridi  |  

Current, one of the leading digital banks in the US, has noted that 2020 was “certainly not the year anyone was expecting,” however, for all the tribulations (not to mention “being in the epicenter of a pandemic” – above all), the company is quite proud… Read More

January 22, 2021 @ 9:58 pm By Samantha Hurst  |  

  Northmill Bank, a neobanking group based in Sweden, announced earlier this week the launch of its new 24 months fixed-rate savings account with a 1.35% annual interest rate and state-provided deposit insurance up to SEK 1,050,000. The third savings account’s launch comes almost exactly… Read More

January 16, 2021 @ 6:04 pm By Omar Faridi  |  

With digital or neo banking gaining more users and popularity during the Coronavirus pandemic, the leading challenger banks in the US and Europe recently confirmed steady growth and adoption. Trading Platforms reveals that seven US or American challenger banks managed to record a combined user… Read More

January 13, 2021 @ 1:19 am By Omar Faridi  |  

Czech Republic-headquartered Octobank is introducing what it claims is Europe’s first neo banking platform that’s focused on serving SMB e-shops and merchants. Octobank has launched a freemium plan for small merchants that are registered businesses in the Czech Republic. The package comes with a business… Read More

January 11, 2021 @ 8:12 am By Omar Faridi  |  

Prominent digital bank Revolut is expecting half of its clients to deposit their salaries and switch over to Revolut as their main bank account provider, after the Fintech challenger has acquired a banking license. Revolut issued a statement earlier today stating it has submitted its… Read More

January 6, 2021 @ 10:41 am By Samantha Hurst  |  

French banking group Orange Bank announced on Wednesday it is set to acquire neobank Anytime. Orange Bank claims that the acquisition enables it to address the professional and small business market, as well as support the banking group’s footprint and is fully aligned with the… Read More

January 4, 2021 @ 7:42 am By Omar Faridi  |  

Digital bank Revolut has reportedly outpaced competitors Monzo and Starling in terms of the number of downloads during 2020. Notably, Revolut saw more app downloads last year than Monzo and Starling Bank combined. As first reported by the Telegraph, Revolut’s online banking app grew more… Read More

January 3, 2021 @ 5:27 pm By Omar Faridi  |  

Chime Financial Inc., a US-based banking challenger valued at around $14.5 billion, has confirmed that stimulus payments are coming and they’ve “got your back” with SpotMe. The digital bank acknowledged that “a lot has changed” since the first round of stimulus payments were made back… Read More

December 31, 2020 @ 8:59 am By Omar Faridi  |  

European digital banks have experienced significant challenges this year. Many have continued to record substantial losses and have received complaints from clients regarding service-related issues. Investors have been pushing banking challengers to show them how they can generate sizable profits by effectively monetizing their products… Read More

December 27, 2020 @ 12:43 pm By Omar Faridi  |  

Zopa, formerly a peer to peer lender and now a regulated digital bank, is planning to generate sizable profits in 2021. Jaidev Janardana, CEO at Zopa, will aim to leverage his 15 years+ of experience working in the lending sector to give the platform a… Read More

December 22, 2020 @ 8:08 am By Omar Faridi  |  

The neo-banking sector might be more likely to get negatively impacted by the socioeconomic uncertainty created by the COVID-19 pandemic than incumbents. Digital banks like Xinja have been forced to shut down while certain Fintech segments such as lending service providers have also been adversely… Read More

December 20, 2020 @ 10:37 pm By Omar Faridi  |  

Digital bank Monzo, which recently scored an additional £60 million investment, has revealed that personalized cards have now arrived for US customers. The Monzo team notes in a blog published on December 16, 2020, that they’re pleased to announce that they’ve introduced their newly designed,… Read More

December 16, 2020 @ 7:50 am By Omar Faridi  |  

Australian neobank Xinja had been working on finalizing a $433 million investment deal from Dubai’s World Investment Group. However, the digital challenger will now be closing customer accounts and returning its banking license. Xinja’s management noted that they will be refunding customer savings. The Fintech… Read More

December 9, 2020 @ 10:30 pm By Omar Faridi  |  

Mexico-based digital bank albo has secured $45 million in capital through an investment round in order to expand its operations into lending and insurance services. Several investors took part in albo’s latest round, including Valar Ventures, Greyhound Capital, Mountain Nazca and Flourish Ventures. The digital… Read More

November 25, 2020 @ 3:34 pm By Samantha Hurst  |  

Northmill Bank, a neobanking group based in Sweden, recently announced it has joined forces with open banking platform Tink. Northmill reported that the partnership will allow the bank to add another layer of intelligence to its credit assessments. While speaking about the partnership, Babel Poli,… Read More

November 3, 2020 @ 8:28 pm By Omar Faridi  |  

Australian neo-bank Xinja recently noted that it’s working cooperatively with Dubai’s World Investment Group (WIG) in order to close the $433 million investment deal that was announced in March 2020. At present, the bank is working with auditors so that they can address concerns regarding… Read More

October 27, 2020 @ 8:16 am By Omar Faridi  |  

Tata Consultancy Services (TCS), an Indian multinational IT services and consulting firm based in Mumbai, has reportedly partnered with Australian neobank Volt. Both companies will work together to power Volt 2.0, which is the digital bank’s new Banking as a Service (BaaS) platform. Volt 2.0… Read More

October 21, 2020 @ 9:42 am By Samantha Hurst  |  

Nium, a global fintech infrastructure platform, announced on Tuesday it has formed a partnership with U.S. neobank Unifimoney to enhance the outbound money transfer experience for Unifimoney users. Nium further revealed that the collaboration will expand Unifimoney’s capabilities, as well as introduce real-time global payment… Read More

October 10, 2020 @ 12:46 pm By Omar Faridi  |  

Bryan Carroll, CEO at TNEX, which claims to be Vietnam’s first all-digital bank to offer “free everyday banking for life,” has confirmed that TNEX is now ready to officially launch its services. Carroll revealed that the TNEX platform is now in its final testing phase…. Read More