Tagged: neobank

October 22, 2023 @ 10:32 pm By Omar Faridi  |  

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

October 16, 2023 @ 9:17 am By Omar Faridi  |  

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

October 11, 2023 @ 8:16 am By Omar Faridi  |  

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

September 20, 2023 @ 7:01 am By Omar Faridi  |  

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

September 10, 2023 @ 6:22 am By Omar Faridi  |  

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

August 30, 2023 @ 6:29 pm By JD Alois  |  

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

August 20, 2023 @ 10:09 pm By Omar Faridi  |  

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

August 17, 2023 @ 9:58 am By JD Alois  |  

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

August 8, 2023 @ 11:59 am By Omar Faridi  |  

albo, a neobank in Mexico, has announced its acquisition of delt.ai for $20 million. With this strategic acquisition, albo has “strengthened its position in Mexico’s financial services sector, becoming the only neobank to offer debit and credit products for both consumers and SMBs.” This is… Read More

August 6, 2023 @ 2:39 pm By Omar Faridi  |  

BaaP (Banking-as-a-Platform) is an operational business model that “puts banks at the forefront of consumers.” In their latest whitepaper, the researchers highlighted “how BaaP can help traditional banks regain their competitive edge against neobanks.” This, according to the Juniper Research team. Through collaboration with innovative… Read More

July 27, 2023 @ 3:07 pm By JD Alois  |  

Beam, a new self-custody digital wallet, has been launched, founded by former CoinList Executive and co-founder Andy Bromberg. According to the Beam website,  the global digital wallet lets you send money to anyone, anywhere, instantly. In a series of Tweets, Bromberg explained that they realized… Read More

July 27, 2023 @ 6:00 am By JD Alois  |  

Upgrade has made its first acquisition by purchasing Uplift for $100 million in both cash and stock, according to a company statement. Uplift is a buy now pay later (BNPL) provider focusing on the travel sector. Upgrade is a neobank that provides a growing number… Read More

July 25, 2023 @ 6:38 pm By Omar Faridi  |  

Chime is pleased to announce that Madhu Muthukumar has joined the company as our first Chief Product Officer (CPO). This appointment furthers Chime’s commitment “to creating the next wave of innovative products and services critical to their members’ needs and their long-term success as we… Read More

July 5, 2023 @ 10:10 pm By Omar Faridi  |  

On the back of a solid start to 2023, embedded banking platform BankiFi has denounced three misconceptions around a new class of digital only neobanks that continue “to persist despite ample evidence to dispel them.” As part of its efforts to highlight the issues faced… Read More

June 27, 2023 @ 8:57 am By JD Alois  |  

Fintechs, including neobanks, have been one of the hottest sectors of venture funding around the world. This segment of private capital is also one of the hottest sectors for online capital formation as entrepreneurs rush to disrupt the somewhat antediluvian banking world. Nebeus is a… Read More

May 29, 2023 @ 10:36 pm By Omar Faridi  |  

Dave Inc. (NASDAQ: DAVE), which claims to be one of the nation’s leading neobanks, announced that its members “have collectively earned more than $1 million through its new Side Hustle feature, Surveys.” Dave launched Surveys in December 2022 “through an exclusive partnership with survey monetization… Read More

May 23, 2023 @ 11:41 am By JD Alois  |  

In a promotional push as banks and Fintechs rush to offer high-yield savings accounts, neobank M1 has announced an account that offers 5% interest for users that have an M1 Plus membership. If you do not have a membership account, holders may earn a mere… Read More

May 19, 2023 @ 12:48 pm By Omar Faridi  |  

Fintech firm Revolut has introduced multi-currency business accounts in Australia and signaled its intention to acquire a banking license in the country. The new business account allows companies to exchange as much as A$75,000 per month, with head of Revolut Business James Gibson revealing to… Read More

May 10, 2023 @ 6:26 pm By JD Alois  |  

MoneyLion (NYSE: ML), a neobank that offers a diverse portfolio of financial services to consumers, reported Q1 earnings this week deliving a solid increase on the top line but flat GAAP net income results. First quarter 2023 revenues increased 34% to $93.7 million in comparison… Read More

May 4, 2023 @ 10:48 am By JD Alois  |  

Digital asset enabler Paxos has been recruited by Fierce to provide crypto services. Fierce is a neobank that offers a “super app” that includes an FDIC-insured checking account, a no-fee Debit Card, fractional stock, ETF trading, and more. Fierce banking services are provided in partnership… Read More