Tagged: virtual bank

UK Fintech Digidoe Introduces BaaS Offering

London Stock Exchange City of London Wellington UK

Digidoe, the UK-headquartered Fintech firm that aims to streamline the global payments infrastructure, has introduced a fast Banking as a Service (BaaS) solution which enables businesses to launch a new virtual bank within 72 hours. The secure Cloud-powered API and white-label service opens the door… Read More

Digital Transformation: nCino, a Cloud Banking Provider, Teams Up with Capitec Bank

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nCino, Inc. (NASDAQ: NCNO), a pioneer in Cloud banking and digital transformation solutions for the global financial services industry, has announced that Capitec Bank, a virtual bank has teamed up with nCino. nCino is assisting with building the bank’s Business Banking loan management system, “optimizing… Read More

Digital Banking: UK’s Starling Bank Doubles Cardiff Headcount

Starling Bank

Starling Bank, the digital bank, has reportedly doubled the size of its Cardiff office and “created hundreds of new jobs as its growth continues.” 868 employees are based in the region, “a 117% increase on the bank’s original 2020 pledge to hire 400.” As mentioned… Read More

HCL Technologies to Acquire Virtual Banking, Wealth Management Specialist Confinale

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HCL Technologies UK Limited, a wholly owned subsidiary of HCL Technologies, an international tech firm, has entered an agreement for the acquisition of Confinale AG, a Switzerland-headquartered virtual banking and wealth management consulting specialist and Avaloq Premium Implementation Partner. Via this key acquisition, HCL will… Read More

Digital Banking: C6 Bank Clients May Now Add Payment Cards to Samsung Pay

Samsung

C6 Bank clients are now able to use Samsung Pay in order to make purchases “without the physical card.” C6 Bank customers can now “register their C6, C6 Platinum, C6 Carbon and C6 Business cards in Samsung Pay.” Samsung’s service “allows users to make contactless… Read More

Digital Bank Varo Appoints Spencer Rascoff to Board of Directors

Varo Bank No Fees

Varo Bank, N.A., which claims to be the first all-digital, nationally chartered bank in the US, has announced the appointment of Spencer Rascoff, Co-Founder and former CEO of Zillow to Varo’s Board of Directors. Rascoff joins Varo’s Board to continue “to scale Varo, a one-of-a-kind… Read More

Virtual Banking: Hong Kong’s WeLab Bank to Offer Digital Wealth Advisory Solutions

Hong Kong Money Sparkle AI

WeLab Bank, the virtual bank dedicated to “curating intelligent banking experience,” has reportedly become the “first” digital bank in Hong Kong licensed “to offer digital wealth advisory services.” Having obtained the Type 1 (Dealing in securities) and Type 4 (Advising on securities) licenses from the… Read More

Digital Banking Platform N26 Explains Why it May Have to Block Certain Accounts

Hands Up Arrest Halt Stop

Every banking platform has an “important” duty to combat financial crime, and N26 claims that it is “no different.” As a fully-regulated bank, this is “not just a responsibility, but a legal requirement for [them] to do so,” the N26 team noted in a blog… Read More

MyInvestor Aims to Position Itself as Major European Fintech, Reports Steady Growth

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Neobank MyInvestor has reportedly reached €2 billion in volume, which “doubles the 1 billion euros registered in March 2021, consolidating its position as the largest Spanish fintech by volume.” Now serving more than 110,000 customers, MyInvestor also has “an investment balance (funds, plans and portfolios)… Read More

Digital Banking: ZA Tech Now the Latest Investor in Aladin Bank – Indonesia’s Sharia Virtual Bank

Hong Kong Money Sparkle AI

Hong Kong – ZA Tech Global Limited, a Singaporean tech venture founded by ZA International and backed by Softbank’s Vision Fund 1, has become “the latest strategic partner to collaborate with Aladin Bank as an investor and a business partner, and is fully committed to… Read More

Digital Banking: ZA Bank and Generali Hong Kong Announce New Partnership

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Generali Hong Kong and Hong Kong’s “No.1” virtual bank – ZA Bank recently announced the commencement of their bancassurance partnership. This partnership is “the first of its kind in Hong Kong between a well-established global insurer and a leading virtual bank in the city, with… Read More

Virtual Banking: Fintech BigPay to Offer All-Digital Loans Regulated by KPKT

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BigPay, a Capital A venture firm and virtual banking platform, announced the introduction of its all-digital loans issued by “BigPay Later”, which is a wholly owned subsidiary operating within the group and a digital money lending license holder. The personal product provided by BigPay Later… Read More

Digital Banking: C6 Bank Clients May Now Use Chase ATMs Free of Charge

ATM

C6 Bank clients who have a global account with a US dollar or Euro balance are now able to withdraw cash from Chase ATMs free of charge beginning on February 24, 2022. The ATM network is available in the US and has over 16,000 units… Read More

Financial Inclusion: Pakistani Fintech NayaPay Secures $13M to Support Digital Banking, Online Payments

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Pakistan’s NayaPay Pvt. has reportedly acquired $13 million in early-stage capital as it aims to onboard consumers who an underbanked or financially underserved. The Karachi-headquartered Fintech firm’s seed round has been led by Zayn Capital, MSA Novo and Silicon Valley’s early-stage investor Graph Ventures, CEO… Read More

Avanti Financial Group Is Now Custodia, Announces Countdown to Q2 2022 Launch

Old Building Bank USA

Custodia is reportedly the first US digital asset bank that has been built on a modern core banking platform. Avanti Financial Group, Inc. recently announced their new name, Custodia Bank, Inc., as “a countdown to the launch of the first-of-its-kind digital asset bank.” Custodia Bank… Read More

BBVA to Invest $300M in Brazil’s Virtual Bank Neon

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BBVA (NYSE: BBVA) has reportedly agreed to invest $300 million (around €263 million) in Neon, a Brazilian digital bank founded in 2016 that aims “to improve access to financial services for individuals, self-employed and small businesses in its country.” Neon claims 15 million registered accounts…. Read More

Managers at Germany’s Digital Bank N26 are Reportedly Under Investigation over Fraudulent Accounts

20 Euro Investigation Research

Four managers working at Germany’s digital bank N26 are reportedly being investigated by public prosecutors regarding suspicions about (allegedly) fraudulent client accounts, the Handelsblatt newspaper confirmed on Friday (February 4, 2022). Criminals or bad actors have been suspected of opening a fairly large number of… Read More

Dubai based ICICB Group to Offer Digital Banking Services in Brazil

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The ICICB Group claims that it has an established track record of launching innovative businesses and propositions with consistency. The Group is known for reviewing the scope of possibilities, from initial strategy to technical development. As mentioned in an update shared by the ICICB Group,… Read More

Digital Banking: Al Rajhi Bank Malaysia Chooses Thought Machine to Build Islamic Virtual Bank

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Al Rajhi Bank Malaysia (ARBM), a wholly-owned subsidiary of one of the world’s largest Islamic banks in terms of assets, Al Rajhi Bank of the Kingdom of Saudi Arabia (KSA), has chosen Thought Machine, the Cloud native core banking tech company, in order to power… Read More

Digital Banking: ZA Bank becomes Hong Kong’s First Virtual Bank to Receive Type 1 SFC License

Hong Kong Money Sparkle AI

Hong Kong’s leading virtual bank ZA Bank has reportedly expanded its footprint into investment business as the first local digital-only bank to be “licensed by the Securities and Futures Commission (SFC) for Type 1 regulated activity (dealing in securities).” As mentioned in an update shared… Read More

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