Tagged: online banking

March 4, 2020 @ 1:05 am By Omar Faridi  |  

Netherlands-headquartered Backbase, a digital banking software developer, has introduced its Onboarding and Origination platform, which has been designed to reduce client onboarding times by as much as 80% while enhancing operational efficiencies by 30%. Backbase’s solution works well for retail clients, small and medium-sized enterprises… Read More

March 3, 2020 @ 5:39 pm By Omar Faridi  |  

Wirecard AG (GER:WDI), a multinational internet tech and financial services provider which is listed on the German stock exchange (DAX) and is headquartered in Aschheim, district of Munich, has teamed up with Estonia-based Xolo, a company that allows entrepreneurs to launch their businesses completely online. … Read More

March 3, 2020 @ 8:54 am By Omar Faridi  |  

Smart savers have increasingly been turning to all-digital banking platforms or neobanks. They’ve been depositing their savings into virtual accounts in order to benefit from highly competitive interest rates. According to the latest data from the Australian Prudential Regulation Authority (APRA), Judo Bank had been… Read More

March 1, 2020 @ 10:34 pm By Omar Faridi  |  

Capital One Financial Corporation (COF), a major US-based bank holding company focused on offering credit cards, auto loans, banking, and savings accounts, is preparing to close down 37 of its physical branch locations across the country.  The company notes in a press release that the… Read More

February 26, 2020 @ 8:50 am By Omar Faridi  |  

Australia-based digital bank Xinja has reached the $200 million mark in total customer deposits. The digital bank was launched less than a month back and it has already managed to accumulate the large sum of money via its popular Stash savings account. After only a… Read More

February 23, 2020 @ 7:37 am By Omar Faridi  |  

New York-based JPMorgan Chase (NYSE:JPM) , the world’s sixth-largest bank with over $2.6 trillion in assets, has moved a step closer to introducing a wide range of personal banking products in the United Kingdom. The move would be similar to what Goldman Sachs has done… Read More

February 23, 2020 @ 7:09 am By Omar Faridi  |  

UK-based Al Rayan, a Sharia-compliant bank, has decided to close down its online banking service by February 26, 2020. The move will now force its clients to switch over to the bank’s app-only financial services with only a short six days notice period. Al Rayan’s… Read More

February 22, 2020 @ 8:00 pm By Omar Faridi  |  

Malaysia-based Axiata Group, a major telecommunications company, has reportedly been holding discussions with around 11 different potential business partners in order to acquire a digital banking license in the Asian nation. Mohd Izzaddin Idris, Axiata’s deputy chief executive, confirmed that the firm was also talking… Read More

February 22, 2020 @ 9:48 am By Omar Faridi  |  

London-based Meniga, an established white-label digital banking solution provider, recently confirmed that it had managed to register as an Account Information Service Provider with the UK’s financial regulator, the Financial Conduct Authority (FCA). Meniga has considerable experience working in the Nordic region with non-traditional financial… Read More

February 20, 2020 @ 9:09 pm By Omar Faridi  |  

Several promising startups are challenging major banks with the launch of their innovative apps that provide seamless, modern, mobile banking experiences. These new apps offer attractive features and very low or even no transaction fees. Level, a banking challenger and banking app provider, is offering… Read More

February 20, 2020 @ 12:27 am By Omar Faridi  |  

NICE Actimize, a NICE company (Nasdaq: NICE) business offering autonomous financial crime management solutions, has reportedly been chosen by TONIK, an Asian pure-play regulated digital bank, to develop its Essentials anti-money laundering platforms and also to assist in the creation of secure banking environments for… Read More

February 19, 2020 @ 11:26 pm By Omar Faridi  |  

WorldRemit, a cross-border funds transfer company, revealed on February 19 that it has teamed up with Varo Money, an established Fintech firm focused on providing digital banking services in the US.  According to a press release, the partnership between the two companies will give Varo… Read More

February 16, 2020 @ 5:51 pm By Omar Faridi  |  

Ila, a Bahrain-based digital, mobile-only banking entity, has confirmed that it has appointed Mohamed Al Maraj as the company’s new chief executive. Established in November 2019 as a wholly-owned retail subsidiary of Bank ABC (the Arab Banking Corporation), a global bank with headquarters in the… Read More

February 8, 2020 @ 5:38 pm By Omar Faridi  |  

Majority, a digital banking platform focused on serving immigrant communities, recently introduced its products to US customers, following a four-month beta testing period. In order to expand its existing business operations, Majority says it remains focused on two major drivers: physical meetup spaces and brand… Read More

February 2, 2020 @ 2:39 pm By Omar Faridi  |  

Doha Bank, one of Qatar’s largest commercial banks (incorporated in 1978 and began offering its services in Doha, Qatar in March 1979), has confirmed the official launch of its domestic and cross-border funds transfer digital service for corporate customers. The domestic and international funds transfer… Read More

February 1, 2020 @ 3:04 am By Omar Faridi  |  

California-based OneWest Bank, CIT’s Southern California branch network, revealed on January 31, 2020 that it has introduced a new mobile app for small businesses. The app offers a new platform to assist small business clients in meeting their financial goals and requirements. The OneWest Bank… Read More

January 29, 2020 @ 2:36 am By Omar Faridi  |  

Zelle, a peer-to-peer (P2P) payment platform, reportedly handled $187 billion worth of payments via 743 million transactions last year. This, according to the latest figures published by network operator Early Warning Services. Zelle’s year-over-year payment values have increased by approximately 57%, meanwhile, transaction volume surged… Read More

January 27, 2020 @ 5:54 pm By Omar Faridi  |  

The Bank of Thailand is reportedly considering issuing licenses to digital banks, which aim to provide greater financial inclusion while catering to changing consumer requirements in the digital age. New Fintech industry participants are encouraging competition and disruption in Thailand’s banking sector. These startups aim… Read More

January 27, 2020 @ 4:53 pm By Omar Faridi  |  

Chinese e-commerce company Zall Smart Commerce Group will establish operations in Singapore’s evolving financial industry. Zall’s management noted that the firm is part of a consortium that’s applying for a digital wholesale banking license in Singapore. Global eTrade Services, a CrimsonLogic Pte division, and Marubeni… Read More

January 27, 2020 @ 12:39 pm By Omar Faridi  |  

A newly launched Israeli virtual bank founded by experienced tech professionals Amnon Shashua and Marius Nacht will begin offering banking services to clients at some point next year, according to an update posted by the financial institution on January 27. As of this report, no… Read More