Tagged: virtual bank

Digital Banking Platform to be Launched by Standard Chartered and Singapore’s NTUC

Standard Chartered (LON: STAN) is partnering with Singapore-based National Trades Union Congress (NTUC) in order to establish an all-digital banking platform. Standard Chartered subsidiary SCBSL will reportedly be providing SGD 144 million for 60% of the joint initiative, with NTCU-controlled BetaPlus retaining the other 40%… Read More

Switzerland’s Digital Bank Yapeal Introduces Virtual Banking Service for Children

Switzerland-based digital banking challenger Yapeal has a new virtual banking service for children and younger people in general. Called Yapini, the new product offering is meant to support financial management services for young clients. As noted by the Yapeal team: “Yapini is a digital account… Read More

Vietnam based Virtual Bank Cake Selects Mambu as Cloud Banking Service Provider

Vietnam-based virtual bank Cake reveals that it has chosen Cloud banking service provider Mambu in order to scale its business operations towards providing a comprehensive range of digital banking solutions. As noted by its management, Cake is a “lifetime free digital bank with a mission… Read More

Digital Banking Platform Revolut Introduces New Features in August to Enhance UX

August is drawing to a close and cooler days might be on their way, however, that “never stops the wheels turning” at digital bank Revolut. As usual, they’ve been working to bring clients the “best possible” experience, and they’ve got some “real fireworks” for customers,… Read More

UK’s Digital Bank Starling Explains How to Securely Send High-Value Payments through their App

Making a high value payment should not feel like a chore or arduous task, according to UK-based digital bank Starling. The Fintech firm writes in a blog post that it should be fairly straightforward and secure, which is exactly what the company aims to offer…. Read More

Monzo USA Now Allowing Clients to Move Money To and From Other Accounts, Currently in Beta Testing

Monzo USA recently revealed that you can move money to and from your other accounts – a feature that’s currently in Beta testing. From August 24, 2021, digital bank Monzo clients have been able to connect their other non-Monzo accounts to their Monzo account. Clients… Read More

Digital Banking Platform Tonik Introduces Physical Debit Cards for Consumers in the Philippines

Philippines-based Tonik, a virtual banking platform that was recently awarded an operational license by the Bangko Sentral ng Pilipinas (BSP), has introduced a physical debit cards for its customers. Tonik bank clients are now able to order physical debit cards via an easy-to-use app, and… Read More

Philippines Reserve Bank Will No Longer Accept Digital Banking Applications from September 1, 2021

Bangko Sentral ng Pilipinas (BSP), the central bank of the Philippines, recently confirmed  that it will no longer be accepting applications for new virtual banks including firms seeking to  convert their current status, starting from September 1, 2021. Virtual banking applications sent to the nation’s… Read More

Digital Banking: GOtyme Acquires Virtual Bank License to Offer Financial Services in the Philippines

GOtyme, which is a joint initiative between Philippines-based conglomerate Gokongwei Group and Singapore’s virtual banking group Tyme, has reportedly acquired the fifth digital banking permit from the Bangko Sentral ng Pilipinas (BSP), the nation’s central bank. GOtyme is set to introduce its services during Q2… Read More

Interest-Free Early Payday Option Introduced by Hong Kong’s Digital Banking Platform ZA Bank

Hong Kong-based digital bank ZA Bank has introduced “Salary FastPass,” which is an interest-free early payday option in Asia that lets people access their monthly salary up to 7 days in advance. ZA Bank‘s management noted that the Salary FastPass option aims to give employees a… Read More

Fintech Chime Secures $750M at $25B Valuation from SoftBank, Sequoia Capital Global Equities, Others

Chime revealed on Friday (August 13, 2021) that it secured $750 million in capital through a Series G round round that now values the Fintech Unicorn at $25 billion. Notably, that’s $10 billion more than what the company had reported in October 2020 (when it… Read More

UK’s Digital Bank Starling Reveals How It’s Helping Businesses At Festivals

UK’s digital bank Starling notes that with their platform and financial services, clients are able to bank “anywhere.” According to Starling Bank, that’s what makes them a wonderful app for business owners “out and about at festivals.” As part of this ongoing support for the… Read More

UK based Digital Bank Monzo Explains How Clients Can Save Time with Business Invoicing

UK-based digital bank Monzo notes that getting paid can be fun, but quite often, what “goes on behind the scenes isn’t.” According to Monzo’s blog post, if anything, getting paid may “take the fun out of business fundamentals.” Monzo, which is currently the subject of… Read More

Digital Transformation: Finaxct Cloud Core Now Being Used by First Horizon Bank in Memphis, Tennessee

Finxact, a Core as a Service banking provider, reveals that First Horizon Bank, the super-regional bank based in Memphis, Tennessee, has converted its VirtualBank brand from its legacy core to the Finxact Cloud-core. The conversion represents a key milestone for the new era of Cloud… Read More

Xiaomi and AMTD’s Digital Banking Platform Airstar Introduces Pilot to Offer Improved Loan Experience to Hong Kong SMEs

Xiaomi and AMTD’s digital banking platform Airstar has introduced another stage of its pilot which reportedly features the SME Easy Pay Loan offering in order to provide a quicker and more accessible loan experience to SMEs. This new announcement has come after an initial pilot… Read More

Virtual Banking Fintech BigPay Acquires $100M from South Korean Conglomerate SK Group

Digital banking challenger BigPay, which is one of the fastest-growing Fintechs in the ASEAN region, recently revealed that it has acquired $100 million in funding from South Korea’s conglomerate SK Group. As noted by its management: “BigPay [is] on a mission to challenge traditional banking… Read More

Digital Banking: Australian Virtual Bank Alex has Gone Live on the Temenos Banking Cloud

Switzerland’s banking software firm Temenos (SIX: TEMN) recently revealed that Australia’s digital banking platform, Alex, has now gone live on the Temenos Banking Cloud. Temenos technology will be used to support Alex’s launch as a licensed banking solution provider, after the acquisition of its Restricted-Authorized… Read More

Hong Kong based Virtual Banking Platform WeLab Bank Reports Solid Growth and Adoption of Digital Financial Services

WeLab Bank, a digital bank that’s licensed by the Hong Kong Monetary Authority (HKMA), is celebrating its first anniversary with solid results. Since it began offering services in July 2020, WeLab Bank claims that it has raised “public expectations” of banking services with the launch… Read More

Digital Banking Fintech Revolut to Streamline Cross-Border Payments between US and Mexico with Remittance Corridor

Digital bank Revolut, which offers a financial Super App with 16 million clients globally, reveals that it has simplified cross-border transactions between the US and Mexico with the introduction of its US-Mexico remittance corridor. With this launch, Revolut clients in the US and Mexico are… Read More

UK’s Digital Bank Monzo Is Facing Potential Money Laundering Charges by FCA, Reports Annual Loss of £130 Million

Gavel Court Legal Trial Law rawpixel unsplash

UK-based digital bank Monzo is currently facing a civil and criminal money-laundering investigation that is being carried out by the Financial Conduct Authority (FCA). Monzo‘s management disclosed these details in its annual report that was released on Friday (July 30, 2021). For the second straight… Read More

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