Tagged: digital bank

Digital Banking: Philippines based OFBank Acquires the Country’s First Virtual Bank License

Overseas Filipino Bank (OFBank), which is a wholly-owned subsidiary of the Land Bank of the Philippines (LANDBANK), has managed to acquire an operational license following the introduction of the Bangko Sentral ng Pilipinas’ (BSP) updated virtual banking guidelines. OFBank was reportedly provided a digital banking… Read More

Banking Challenger Monzo Partners with RAC to Give Monzo Plus and Premium Clients Breakdown Cover from £5/Mth

Monzo, a UK-based digital bank that recently raised £50 million as part of a Series G extension, reveals that it has a new special offer, “exclusively for Monzo Plus & Premium customers.” The Monzo team writes in a blog post that they know you are… Read More

Digital Banking Fintech Revolut Reveals its Virtual and Physical Debit Cards are Widely Accepted, Shares Tips to Avoid HMRC Scams

Digital banking challenger Revolut notes that whether you are just opening your doors to clients, growing a company or investing in a new initiative, let’s “launch into action” during this spring season. Revolut writes in a blog post that Revolut‘s virtual and physical debit cards… Read More

KeyBank & Laurel Road Unveils Digital Bank Specifically for Doctors

Laurel Road, a brand of KeyBank, announced earlier this week the launch of Laurel Road for Doctors, a digital bank specifically for physicians and dentists. According to Laurel, the goal of the new digital bank is to help ease the burden for doctors of paying… Read More

Digital Banking: Co-founder of Germany’s Penta Bank Launches Relio Virtual Banking Solution for Swiss SMEs

Co-founder of Germany-based virtual bank Penta has introduced an initiative, known as Relio, which aims to focus on serving Swiss small and medium-sized businesses (SMEs). Relio has been launched because digital banking platforms that exist today are not meeting the unique requirements of smaller businesses…. Read More

Digital Banking: Reserve Bank in the Philippines Is working on Virtual Bank Framework to Enable Greater Financial Inclusion

The Bangko Sentral ng Pilipinas (BSP), the central bank of the Philippines, is reportedly looking into adopting a virtual banking framework so that it may be leveraged to enable greater financial inclusion. The new digital banking guidelines are being developed to support a regulatory environment… Read More

Digital Banking: State Bank of Pakistan Releases New Guidelines for Virtual Banks, but Cash Is Still King in the Country

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

Tax Preparation Firm H&R Block Is Reportedly Planning to Offer Digital Financial Services to Middle-Income Households

Tax preparation service provider H&R Block had been working with external banking platforms, however, the company is now planning to offer digital financial services to middle-income US households. The Kansas City headquartered company has been focused on supporting its clients by helping them deposit their… Read More

Digital Lending Software Provider Blend Explains What’s Required to Offer Best Online Banking Experience

The team at Blend, which provides digital lending technology, has shared some important features which can help provide “the best online banking experience.” As noted in a blog post by Blend, online banking clients are increasingly expecting interactions to be a lot simpler, faster, and… Read More

Digital Banking Platform ZA Bank from Hong Kong Now Claims 300k Users, Right before 1-Yr Anniversary

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

Digital Banking Challenger Current Confirms it Got Americans Stimulus Payments in their Accounts 5 Days Before Old Bank Users

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

N26 Appoints Gilles BianRosa As New Chief Product Officer

  Digital-only bank platform N26 announced on Tuesday it has appointed Gilles BianRosa as its new Chief Product Officer. N26 reported that in his upcoming role, BianRosa will lead all product teams based across the company’s main offices and technology hubs in Berlin, Barcelona, Vienna, and New York. N26 also… Read More

Asian Digital Banking Challenger Tonik Launches Very First Neobank in the Philippines, Offering Competitive Deposit Rates

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

Revolut Applies for US Bank Charter One Year After Launch in the States

Digital bank Revolut has submitted its application to receive a national bank charter, according to a note from the company. Having launched in the US about one year ago, currently, Revolut offers banking services in partnership with Metropolitan Commercial Bank. Partnering with a chartered bank… Read More

Digital Bank Zopa Raises £20 Million from Existing Investors, Reports £250 Million in Deposits

Zopa, a digital bank, has raised £20 million from existing investors, according to a release from the company. The Fintech said this is an indication of confidence in the initial success of its bank launch and growth of its latest products. The round was led… Read More

Digital Banking Unicorn Starling Explains How to Make the Most of Your Tax-Free Allowances on ISAs

UK-based digital banking challenger Starling notes that the end of the tax year is now “fast approaching.” This may be a good time to “make the most” of your tax-free allowances on Individual Savings Accounts (ISAs), the Starling team writes in a blog post. Starling… Read More

Indian Neobank Razorpay Provides Updates on Local and Global Digital Banking and Fintech Ecosystem

Indian neobank Razorpay points out that it seems like banks have been “around forever.” In India, for example, the history of banking “dates way back to 1750 BC,” the company reveals. It also mentions that we’ve traditionally or historically been dependent on banking institutions for… Read More

Digital Banking: Chime and Plaid are Leveraging ACH Payment Methods to Help Businesses Streamline Operations

Digital bank Chime notes that if you’ve ever tried to schedule an automatic bill payment from your bank account or received a direct deposit, then you may appreciate how convenient these transactions might be. We may be able to avoid many late fees if we… Read More

Digital Banking Unicorn Revolut Suspends Operations in Canada, Says it Will Revisit Options Later

UK-headquartered digital banking challenger Revolut says it will be suspending its business operations in Canada, a move that has come just 18 months after the Fintech launched a beta version of its services in the North American country. BetaKit, which keeps track of Canadian tech… Read More

Canadian Challenger Bank KOHO Reportedly Raises $70 Million Through Series C Funding Round

    KOHO, a Canada-based challenger bank that offers Canadians an alternative to traditional banking, has reportedly secured $70 million through its Series C funding round. According to BetaKit, the funding round was led by TTV Capital with participation from Drive Capital and Portag3 Ventures…. Read More

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