Tagged: virtual bank

June 12, 2021 @ 7:24 pm By Omar Faridi  |  

Line has reportedly introduced its third digital banking platform in Southeast Asia through a partnership with PT Bank KEB Hana Indonesia. The introduction of the smartphone-only bank in Indonesia has come after similar launches in Taiwan and Thailand. The partnership between Line and Hana Bank… Read More

June 9, 2021 @ 4:59 pm By Omar Faridi  |  

Brazil-based banking challenger Nubank recently revealed that it has secured a total of $750 million in capital as part of two extensions of its latest Series G round. The Fintech firm reports raising $1.15 billion in total. During Nubank‘s first extension, the banking challenger acquired… Read More

May 16, 2021 @ 2:25 pm By Omar Faridi  |  

UK-based digital bank Starling notes that their overdraft can serve as a short-term “safety net” for eligible or qualified personal customers. The Starling Bank team writes in a blog post that if you don’t have enough funds in your account to cover essential payments or… Read More

May 12, 2021 @ 10:17 pm By Omar Faridi  |  

livi bank, which is notably one of Hong Kong’s eight digital banks, is now offering a Buy Now, Pay Later (BNPL) service with the introduction of livi PayLater that provides an instant installment option along with a virtual Mastercard debit card. The livi PayLater BNPL… Read More

May 2, 2021 @ 10:07 pm By Omar Faridi  |  

Hong Kong-based digital banking challenger ZA Bank has revealed that it’s providing a financing guarantee facility of as much as HKD 18 million (appr. $2.32 million). The plan is referred to as the “ZME $18M Loan.” The new product is described as a business revolving… Read More

April 18, 2021 @ 7:37 pm By Omar Faridi  |  

The founder of digital banking challenger Revolut is reportedly planning a new round of funding that could value the Fintech at over £7.2 billion (appr. $10 billion). Sky News reports that the digital bank may be looking to work with  FT Partners, the US-headquartered Fintech-focused… Read More

April 9, 2021 @ 9:59 am By JD Alois  |  

In a move to boost clients, ZA Bank has launched a personal loan with a fixed rate of 1.99% APR. Additionally, new users can get HKD 400 cash rewards upon successful application at the virtual bank. ZA Bank says the program is part of its… Read More

March 28, 2021 @ 8:25 pm By Omar Faridi  |  

The State Bank of Pakistan (SBP), the nation’s central bank, announced on Friday (March 26, 2021) that it has started working on a separate set of guidelines for virtual banks which will focus on “regional regulatory trends,” according to a report from local sources. As… Read More

March 23, 2021 @ 11:47 pm By Omar Faridi  |  

ZA Bank, which is one of Hong Kong’s eight digital banks, has confirmed that it has now acquired around 300,000 users. This milestone has been reached right before its first year anniversary. ZA Bank was notably the first to carry out a soft launch of… Read More

March 23, 2021 @ 8:41 pm By Omar Faridi  |  

Digital banking challenger Current confirmed on March 12, 2021, that it began receiving and crediting stimulus payments “as of 11 am. ET on March 12.” The digital bank stated that it would  be crediting “all member accounts immediately, making all funds fully available as we… Read More

March 22, 2021 @ 10:52 pm By Omar Faridi  |  

Southeast Asia-based all-digital banking challenger Tonik has officially launched the first neobank in the Philippines. Tonik is regulated by the Bangko Sentral ng Pilipinas (BSP), the nation’s central bank. Tonik’s deposits will reportedly be insured by the Philippine Deposit Insurance Corporation (PDIC). The digital banking… Read More

February 22, 2021 @ 1:24 pm By Samantha Hurst  |  

Mox, Standard Chartered virtual bang that is based in Hong Kong, announced on Monday its latest progress update. The virtual bank launched in September 2020 and as previously reported, it was created in partnership with PCCW, HKT, and Trip.com “With Mox, opening an account is… Read More

October 28, 2020 @ 5:46 pm By Omar Faridi  |  

Singtel, one of Singapore’s largest telecommunications companies, is now progressing with its initiative to launch a digital bank with the help of the Grab, a multinational ride-hailing service provider. Sachin Mittal, analyst at Singapore’s DBS Bank, said that the joint initiative seems like “a strong… 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 23, 2020 @ 7:33 pm By Omar Faridi  |  

Vietnam Maritime Commercial Joint Stock Bank (MSB) aims to offer a truly digital onboarding experience to all its clients. MSB plans to offer seamless online banking services so that customers don’t have to visit a physical branch location to manage their finances. MSB is also… Read More

October 21, 2020 @ 8:07 am By Omar Faridi  |  

Paulo Guedes, the Minister of Economy in Brazil, recently noted that the country is planning to join the Organization for Economic Cooperation and Development (OECD), which is an intergovernmental economic organization with over 30 member countries. The OECD aims to promote economic growth and also… Read More

October 18, 2020 @ 8:36 pm By Omar Faridi  |  

The Philippine National Bank (PNB), one of the largest financial institutions in the country, is reportedly considering the possibility of launching a digital bank as one of its subsidiaries. Jose Arnulfo “Wick” Veloso, president and CEO at PNB, stated: “We’re discussing internally with the principals…. Read More

October 10, 2020 @ 9:18 am By Omar Faridi  |  

Italy-based Enel will soon be the first of Europe’s major utilities providers to introduce a digital banking platform this month. According to Reuters, the virtual bank will let customers open a new current account by using the debit card they use to settle their energy… Read More

October 7, 2020 @ 4:57 pm By Omar Faridi  |  

NAGA Group (XETRA: N4G), a Germany-based social trading-focused brokerage firm, reported its financial results on October 5, 2020, for Q3 2020. The NAGA Group claims that it generated record sales and trading volume. The company’s sales volume reportedly increased by 506% year-on-year to €7.1 million… Read More

October 6, 2020 @ 11:27 pm By Omar Faridi  |  

Razer Fintech’s parent company is reportedly backed by a cash balance of more than $500 million and has zero debt. Headquartered in Singapore, Razer Fintech plans to launch a global “youth bank.” The company’s management is currently laying the foundation and making other necessary preparations… Read More