The Juniper Research team has shared key insights on digital-only banking and other Fintech trends encompassing neobanks and the emergence of Fintech innovations offered via digital banking platforms. The digital banking market is an evolving space, with digital banks racing to get banking licenses, create… Read More
The Federal Deposit Insurance Corp. (FDIC) is expected to propose new rules impacting For Benefit Of (FBO) accounts which will affect the neobanking sector. According to a report by Bloomberg, the FDIC will make the proposal as soon as this month. This follows the Synapse… Read More
Dave Inc. (Nasdaq: DAVE), one of the nation’s neobanks, has recently issued a statement regarding a proposal from the Consumer Financial Protection Bureau (CFPB). Dave’s management has stated: “We are closely monitoring the recently proposed interpretive ruling from the CFPB around paycheck advance and earned… Read More
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
Banking-as-a-Service Fintech Bankable has reportedly acquired Arex Markets, giving the combined business entity the capability to effectively embed credit and working capital into the payment channels of major neobanks, multinational/global brands as well as Fintech platforms. Financial terms of the transactions have not been shared… Read More
Why should you use a traditional bank over a Fintech – either a neobank (non-chartered financial service provider) or a digital bank (chartered). Good question. Old banks tend to have lots of physical locations and lots of employees that are expensive to keep on staff…. Read More
The Consumer Financial Protection Bureau (CFPB) is out with a note that hammers traditional banks and their reliance on overdraft fees. Frequently the target of neobanks and other Fintechs, the overdraft fee has been criticized as the $30 cup of coffee when someone inadvertently makes… Read More
A pair of Belgian banks have ousted Revolut from the top spot in the fourth annual Sia Partners‘ Mobile Banking Benchmark: A Study on the Present State of Mobile Banking in the World. Sia Partners considered 135 banks in 17 countries across Europe, North Africa,… Read More
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
Although neo banks or digital banking platforms have been gaining significant market share during the past few years, consumers still appear to be somewhat hesitant when working with these new providers as their primary accounts, according to recent research by Accenture. The 2020 Accenture Global… Read More
Asia might be getting ready to experience a digital banking revolution. During the next few years, the continent is expected to see over 50 new digital banks that could completely transform the financial services sector. GFT’s Christopher Ortiz claims that these developments may just be… Read More
Malaysia’s reserve bank, Bank Negara, has released its policy document on digital banks. The Malaysian central bank’s new document on the licensing framework for all-digital banks has been published after completing a 6-month public consultation. Bank Negara officials stated on December 31, 2020, that the… Read More
Mark Goldberg, partner at Index Ventures and an investor in Plaid, Intercom, and Transcend, has shared some interesting predictions around where Fintech might be heading in the next 10 years. 1/ Using the end of year to look ahead — here are 5 predictions around… Read More
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
Although digital banking challengers have managed to onboard millions of new customers during the past few years, they’re still not completely trusted by UK-based consumers. Most of the nation’s residents don’t think that these new digital lenders will be able to maintain operations in the… Read More
UK-based digital bank Starling recently revealed that it managed to break even and claims that it may be on track to become the first banking challenger to reach profitability. Starling Bank’s management noted that it’s the first of the new digital banks (which includes Monzo,… Read More
Australian neobank Volt has confirmed that it’s planning to reduce the total interest rate on its Save account. The bank will slash the current rate by 20 basis points, so it will be lowered from the current 1.45% p.a. to 1.25% p.a. This new rate… Read More
The global digital banking platform market size is expected to reach $10.87 billion by 2027, which means that it’s expanding at about a 13.6% CAGR (compounded annual growth rate), according to estimates from Allied Market Research (AMR). A release that summarizes that findings of the… Read More
Neobanks have been finding it quite challenging to maintain their competitive deposit rates. During the past few weeks, three Australian neobanks have reduced their rates and two of them have placed limits on the balances on which they’ll pay higher interest. Australia based digital bank… Read More
UK-based Fintech Payhawk, a corporate expense management solution provider that secured €3 million in seed funding in March 2020, notes that “the ticket to ride the rollercoaster of hype in any emerging technology is expensive.” Hristo Borisov, the co-founder and CEO at Payhawk who’s focused… Read More
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