Tagged: virtual bank

August 16, 2021 @ 12:14 pm By Omar Faridi  |  

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

August 16, 2021 @ 9:27 am By Omar Faridi  |  

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

August 10, 2021 @ 10:37 pm By Omar Faridi  |  

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

August 8, 2021 @ 8:24 pm By Omar Faridi  |  

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

August 8, 2021 @ 8:01 pm By Omar Faridi  |  

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

August 8, 2021 @ 7:47 pm By Omar Faridi  |  

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

August 4, 2021 @ 9:35 pm By Omar Faridi  |  

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

August 3, 2021 @ 6:20 pm By Omar Faridi  |  

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

July 31, 2021 @ 2:40 pm By Omar Faridi  |  

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

July 26, 2021 @ 11:49 pm By Omar Faridi  |  

The United Arab Emirates (UAE) ranked first among the Arab nations in FinxAr. As covered, the Arab Monetary Fund introduced the Index of Modern Financial Technologies in the Arab countries (called the FinxAr). The index aims to provide insights on the ongoing developments in the… Read More

July 26, 2021 @ 10:22 am By Omar Faridi  |  

Digital bank Zopa will be working with JPMorgan which will serve as an advisor on a £100 million funding round. This, according to a report from Sky News, which noted that investors who have been approached regarding the investment round have been considering a £500… Read More

July 26, 2021 @ 8:12 am By Omar Faridi  |  

UK’s Starling Bank recently shared its trading update for the quarter to 30 June 2021 and its report and “accounts for the period ending 31 March 2021.” The results, released by Starling on July 22, 2021, demonstrate “strong and responsible growth, continued profitability and a… Read More

July 24, 2021 @ 3:26 pm By Omar Faridi  |  

The Union Bank of the Philippines, which is part of a conglomerate that is led by Aboitiz Equity Ventures, will be launching the fourth all-digital banking platform in the Southeast Asian country. This, according to a Philstar Global report. The UnionBank’s virtual bank application has… Read More

July 21, 2021 @ 10:45 pm By Omar Faridi  |  

Malaysia-based Fintech firm Jirnexu reveals that it has entered into partnership agreements with over five consortia as they apply for a virtual banking license. They stated that with Jirnexu’s client base and a solid understanding of their financial requirements via RinggitPlus.com, the digital banking license… Read More

July 13, 2021 @ 7:54 am By Omar Faridi  |  

InstaVolt, an established rapid electric vehicle charger network, has partnered with UK’s digital bank Starling. Through the partnership with Starling, the digital bank will utilize InstaVolt’s rapid charging network as “a full service advertising channel from 5th July.” As mentioned in a release shared with… Read More

July 9, 2021 @ 1:28 am By Omar Faridi  |  

Digital banking platform Revolut notes that they already know that Revoluters are “exceptional people.” However, the Fintech firm points out that what makes its team extraordinary is how well they have adapted to remote work in a post COVID environment. Revolut writes in a blog… Read More

July 5, 2021 @ 7:22 pm By Omar Faridi  |  

Capital Bank Group has reportedly chosen open API banking solutions provider Codebase Technologies in order to develop and deploy its first all-digital banking platforms in Jordan and Iraq. Through the partnership, Capital Bank Group will aim to deliver its digital bank offering to its retail… Read More

July 4, 2021 @ 5:43 pm By Omar Faridi  |  

Hong Hong-based digital banking platform Airstar Bank has confirmed the appointment of Xiaomi’s Chief Financial Officer Alain Lam Sai Wai as its new Chairperson of the Board of Directors (BoD). The previous Chair, Lei Jun, the Chinese billionaire businessman who established Xiaomi, has now stepped… Read More

July 4, 2021 @ 12:28 pm By Omar Faridi  |  

Bank Negara Malaysia, the nation’s reserve bank, recently revealed that it received 29 different applications for a virtual bank license under the Financial Services Act 2013 and the Islamic Financial Services Act 2013. This has come after a 6-month application period, which came to an… Read More

June 29, 2021 @ 7:49 pm By Omar Faridi  |  

Philippines-based digital and financial services company Voyager Innovations has secured $167 million in capital for its expansion program, which includes a venture into virtual banking, its listed and largest shareholder confirmed on Monday (June 28, 2021). Shareholders PLDT Inc, private equity firm KKR & Co… Read More