Tagged: digital bank

April 7, 2025 @ 11:59 pm By Omar Faridi  |  

Digital bank Monzo has made a strategic move into the home insurance market, launching a contents insurance product designed to capitalize on growing consumer demand for seamless, app-based financial services. This initiative marks Monzo as one of the first UK digital banks to offer such… Read More

March 30, 2025 @ 11:28 pm By Omar Faridi  |  

Digital bank Revolut continues to make strategic moves in 2025, blending business expansion with product development and innovation. As widely reported, Schroders Capital Global Innovation Trust, once managed by Neil Woodford, boosted its valuation of its Revolut stake by 85%, reportedly implying a $48 billion… Read More

March 26, 2025 @ 11:16 am By JD Alois  |  

FV Bank says it has added SWIFT to its platform. The code is ITTLPRS2XXX. FV Bank is based in Puerto Rico and licensed to operate in the US. The bank provides a wide range of traditional banking services while supporting the digital asset ecosystem. By… Read More

March 24, 2025 @ 12:53 am By Omar Faridi  |  

UK’s digital bank Monzo noted that their engineering team has created Monzo Stand-in, which is described as a fully independent backup bank complete with its own data, software, and infrastructure. This system can reportedly become effective / go live instantly during outages, ensuring customers retain… Read More

March 18, 2025 @ 10:23 am By JD Alois  |  

Reflecting on its loan growth of 24% year over year, Grasshopper reports it is boosting its executive branch to support the demand. Grasshopper is a federally chartered digital bank that holds FDIC insurance for accounts. Launched in 2019, the bank serves both consumers and small… Read More

March 17, 2025 @ 8:00 am By Omar Faridi  |  

Digital bank Revolut is focused on its ongoing transformation into a fully-fledged bank with several key strategic developments in 2025. Revolut recently announced a hiring spree in the United Kingdom, reportedly adding hundreds of staff to prepare for the “mobilization” phase of its UK banking… Read More

March 17, 2025 @ 7:58 am By Omar Faridi  |  

Lunar, the Nordic challenger bank, is reportedly expanding its offering with Lunar Youth, a banking app for younger consumers aged 7-17. This launch strengthens Lunar’s aim to become a full-service bank in the Nordics, providing “a seamless financial experience for families to engage with money… Read More

March 13, 2025 @ 10:51 pm By Omar Faridi  |  

OakNorth – the digital bank for entrepreneurs, released its latest Annual Report, revealing pre-tax profits of £214.8m (appr. $271.6m) in 2024 (FY23 £187.3m / $236.8m). OakNorth provided over £2.1bn ($2.6bn) of gross “new lending in 2024, continuing its track-record of supporting ambitious and innovative businesses… Read More

March 11, 2025 @ 11:05 am By JD Alois  |  

ClearBank has selected former CFO Mark Fairless as its new CEO. According to a release, founder and former CEO Charles McManus will continue with the bank as a member of the Board of Directors, helping to guide the firm’s strategy. McManus will also remain as… Read More

March 6, 2025 @ 9:22 pm By Omar Faridi  |  

Tonik has crossed 1 million cumulative loans disbursed since inception, cementing its status as the Philippines’ credit-led digital bank and propelling a new era of “credit inclusion.” While traditional banking institutions continue to emphasize corporate credit, Tonik zeroes in on a “$40 billion latent unsecure… Read More

March 6, 2025 @ 6:47 am By JD Alois  |  

Zopa Bank has hired a former Visa executive as its new Chief Analytics Officer (CAO) Jeremy Penzer was previously Head of Data Science for Europe with Visa. Before that, he served as Capital One Europe’s Chief Analytics Officer and an academic statistician at the London… Read More

February 26, 2025 @ 4:52 pm By Omar Faridi  |  

Australia’s digital banking platform, Ubank, has reportedly rebuilt its mortgage broker platform to streamline the digital home loan lodgement process and deliver a compelling online experience for brokers and their customers. More than technology, Ubank explained that the new broker platform is the cornerstone of… Read More

February 23, 2025 @ 7:54 pm By Omar Faridi  |  

Nu Holdings Ltd. (NYSE: NU), one of the largest digital financial services platforms, released its Fourth Quarter and Full Year 2024 financial results. Financial results are presented in accordance with International Financial Reporting Standards (IFRS). David Vélez, founder and CEO of Nubank said: “2024 was… Read More

February 17, 2025 @ 5:02 pm By JD Alois  |  

Varo Money, a federally chartered digital bank, is raising growth capital. According to a Form D filed with the Securities and Exchange Commission, Varo is seeking $55 million. As of the date of the filing, Varo has raised almost $29 million with around $26 million… Read More

February 16, 2025 @ 6:17 pm By Michael Wong  |  

Derayah Financial Company has priced its initial public offering (IPO) at 30 riyals ($8) per share, the upper end of its indicated range, following strong demand from institutional investors. The Saudi-based independent digital investment platform attracted 243 billion riyals ($64.79 billion) in total orders during… Read More

February 6, 2025 @ 6:40 pm By Omar Faridi  |  

Santander Bank, N.A. (NYSE: SAN) announced that the Openbank digital bank platform topped $2 billion in total deposits since going to market in the United States in the fourth quarter of 2024. This achievement is said to represent a key milestone in the Santander US… Read More

February 3, 2025 @ 8:09 am By Omar Faridi  |  

European digital bank N26 has recently announced the completion of its conversion from a German Stock Corporation (Aktiengesellschaft, AG) to a European Company (Societas Europaea, SE). N26 noted in the update that this step reflects the company’s commitment to evolving its corporate governance and “aligning… Read More

February 2, 2025 @ 5:39 pm By Michael Wong  |  

Egypt-based fintech Halan Microfinance Bank has expanded its footprint into Pakistan following its acquisition of Advance Microfinance Bank. The deal provides Halan with an existing license and a rapid route into one of South Asia’s fastest-growing microfinance sectors, according to an announcement. The company announced… Read More

January 29, 2025 @ 10:07 am By JD Alois  |  

LendingClub (NYSE:LC), a digital bank, reported Q4 earnings yesterday, touting a rise in loan originations by 13%, an increase in revenue of 17%, and growth in total assets of 20% when compared to Q4 of 2023. While revenue rose, net income declined quarter over quarter… Read More

January 28, 2025 @ 2:53 pm By Omar Faridi  |  

SoFi Technologies, Inc. (NASDAQ: SOFI), a “one-stop” shop for digital financial services that helps members borrow, save, spend, invest and protect their money, reported financial results for its fourth quarter and fiscal year ended Dec 31, 2024. Anthony Noto, CEO of SoFi Technologies, Inc. said:… Read More