Tagged: virtual bank

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

September 14, 2020 @ 12:06 pm By Omar Faridi  |  

EQ Bank, which is a digital, branchless platform offered by Equitable Bank, a Canadian banking challenger, recently surpassed $4 billion in total deposits, which has come about three months after it reached the $3 billion mark. Although the demand for digital banking services has been… Read More

September 6, 2020 @ 5:00 pm By Omar Faridi  |  

Online peer to peer (P2P) lender Robo.cash is reportedly getting ready to conduct its initial public offering (IPO) in Australia in December of this year. Robocash Group, which is the parent company of Europe based P2P lender Robo.cash, will be the next Fintech service provider… Read More

August 31, 2020 @ 6:55 pm By Omar Faridi  |  

It’s now possible to open a new bank account or apply for a credit card or loan with just a few taps on our smartphones. Many people now have access to modern financial services, such as instantly transferring funds, from the comfort of their home… Read More

August 27, 2020 @ 9:58 pm By Omar Faridi  |  

Malaysia’s Razer Fintech, the Fintech division of Razer (a multinational financial service provider), has revealed that it plans to launch a digital banking platform in overseas markets. Razer, which is also (mainly) a gaming company, has applied for a virtual banking permit in Malaysia but… Read More

August 23, 2020 @ 7:32 pm By Omar Faridi  |  

Hong Kong’s future economy is set to be supported by the latest Fintech platforms and services, as the city-state will be home to at least eight virtual banks. Hong Kong serves as the primary gateway for (mainland) Chinese businesses to expand their operations, globally. It… Read More

August 22, 2020 @ 2:21 pm By Omar Faridi  |  

Australia based Parpera, a Fintech firm that’s focused on developing a digital ​banking solution for business owners and freelance or gig economy workers, has opened shares for trading with Equitise, an equity crowdfunding platform. Established by former EY management consultant Daniel Cannizzaro, Parpera shares are… Read More