Tagged: neobank

September 27, 2020 @ 10:00 am By Omar Faridi  |  

Malaysia’s Razer Fintech, the Fintech division of Razer (a multinational financial service provider), has teamed up with Singapore’s Lifestyle Marketing SaaS (software-as-a-service) provider, Perx Technologies, in order to provide better mobile-first customer engagement for financial services. Through the partnership, Razer Fintech will focus on transforming… Read More

September 1, 2020 @ 8:43 pm By Omar Faridi  |  

Singapore based Fintech firm Atlantis has reportedly launched a digital bank in India. The company’s business aims to target the estimated $15.7 billion global Millennial banking market. The neobank will mainly focus on serving Millennials (people born around 1980 to 1996) and Gen Z (born… Read More

August 27, 2020 @ 7:21 am By Omar Faridi  |  

Germany-based digital bank N26, which offers a mobile banking platform, is celebrating its one year anniversary in the US with almost 500,000 customers. As mentioned in a release shared with Crowdfund Insider: “Since announcing its public US launch in partnership with Axos Bank in August… Read More

August 18, 2020 @ 7:44 am By Omar Faridi  |  

Hammock, a neobank that has been introduced specifically for landlords, has acquired £1 million through a seed funding round from Ascension Ventures and Fuel Ventures. The capital raised by Hammock should help the bank with its upcoming launch of its current accounts – which should… Read More

August 15, 2020 @ 12:43 pm By Omar Faridi  |  

Greek payments firm Viva Wallet is reportedly planning to secure €500 million in capital to support its virtual banking business, according to Reuters which cited two sources familiar with the matter. As reported, Viva Wallet officially acquired the banking license of Praxia Bank after the… Read More

August 15, 2020 @ 11:46 am By Omar Faridi  |  

WeLab Bank recently confirmed the public launch of its digital banking services. It’s notably the only stand-alone firm to acquire a virtual bank license from the Hong Kong Monetary Authority (HKMA), the city-state’s de facto central bank that’s also responsible for promoting the efficiency, integrity… Read More

August 8, 2020 @ 10:17 am By Omar Faridi  |  

Customers Bank, which offers personal and business banking solutions, including checking, money markets, savings, mortgages, loans, and cash management, has reportedly agreed to sell its BankMobile Technologies division to Megalith Financial Acquisition Corporation (NYSE:MFAC). BankMobile Technologies is an established US-based digital banking platform. Meanwhile, MFAC… Read More

August 5, 2020 @ 10:10 am By Samantha Hurst  |  

Bnext, a Spain-based mobile-first neobank, has reportedly raised an additional €11 million through its extended Series A funding round, which raised €22 million ($25 million) last Fall.  As previously reported, Bnext offers customized services tailored to individual needs. The mobile banking platform allows its customers… Read More

August 4, 2020 @ 10:22 pm By Omar Faridi  |  

Australia based DayTek Capital, a company focused on establishing a digital bank, has reportedly been awarded a financial services license by regulators in the country. Headquartered in Queensland, the new digital bank, called Infinity, has joined several other Australian banking challengers, which include Xinja Bank,… Read More

August 3, 2020 @ 10:06 pm By Omar Faridi  |  

Neobank Aidbanc, which launched operations last year, is reportedly planning to assist NGOs by providing them with digital banking and spend management software that they need to deliver financial aid. The proper distribution of financial aid can have a significant positive impact on the lives… Read More

July 13, 2020 @ 9:10 pm By Omar Faridi  |  

Australian neobank UBank, a leading digital challenger, has reportedly reduced its home loan rate to its historical low. UBank’s management noted that they’ve made a 0.10% to 0.15% per annum out-of-cycle reduction to the bank’s variable home loan rates. New property owner and occupier home… Read More

July 11, 2020 @ 12:05 pm By Omar Faridi  |  

Monument Bank, a new all-digital bank that’s reportedly backed by City of London veterans, is preparing for launch in the coming months. The digital challenger aims to serve the UK’s “mass affluent.” The digital-only bank is currently in the final stages of acquiring a banking… Read More

July 10, 2020 @ 4:26 pm By Omar Faridi  |  

Tonik, the very first all-digital banking platform in the Philippines, has reportedly chosen Mastercard as its payments partner as the company gets ready to officially launch its operations later this year. Through the partnership, Mastercard will be supporting Tonik by acting as its Fintech accelerator…. Read More

July 9, 2020 @ 8:45 pm By Omar Faridi  |  

Australian neobank 86 400 has reportedly moved to its next phase of growth only a year after being awarded a banking license. The digital bank says that it will be focusing on helping its customers with new ways to earn more money from their savings…. Read More

July 7, 2020 @ 10:30 pm By Omar Faridi  |  

Around 40% of European consumers responding to a survey claim that they’ve not been able to access new financial services because of lockdown measures enforced after the COVID-19 outbreak. These consumers also said they’re unable to access digital platforms, which is why they can’t use… Read More

July 5, 2020 @ 10:11 pm By Samantha Hurst  |  

Eversend, a Neobank for Africans, is set to close its equity crowdfunding campaign on Seedrs with more than €850,000 secured from nearly 950 Seedrs investors. The funding round was launched in May, originally seeking €550,000. The banking group is offering 7.67% in equity at a… Read More

July 1, 2020 @ 9:47 pm By Omar Faridi  |  

DayTek Capital, a company focused on building Australia’s first “product-disruptive” neobank, is the latest firm to join Visa’s Fintech Fast Track program as it prepares for the launch of Infinity, an all-digital banking challenger. By joining the program, DayTek Capital will be able to help… Read More

July 1, 2020 @ 7:19 am By Omar Faridi  |  

Paris-based Société Générale S.A., a French multinational investment bank and financial services company with around €1.3 trillion in assets, is reportedly acquiring Shine, a French neobank for business owners. The acquisition might be worth approximately €100 million, according to estimates from industry participants. Established about… Read More

June 30, 2020 @ 9:59 pm By Omar Faridi  |  

Dennis Gao, partner of Management Consulting at KPMG Southern China, recently noted that Fintech is preparing to enter the “regulatory-driven 2.0 era,” and opportunities are now greater or outweigh potential challenges for Fintech due to COVID-19. Gao, whose comments came during “Financial Digitalization & Fintech… Read More

June 24, 2020 @ 10:02 pm By Omar Faridi  |  

Chennai-based digital bank Kaleidofin has introduced a payments platform, called KaleidoPay, which lets non-bank financial company (NBFC) clients make digital payments. KaleidoPay digitizes payments, including customers’ savings contributions and insurance premiums. The platform’s software uses machine learning (ML) algorithms to process financial data. KaleidoPay can… Read More