Tagged: digital bank

Open Banking: UK’s Digital Bank Zopa Explains how Consumers Can Benefit from Financial Data-Sharing

Open Banking is about giving users better control over their banking information. Instead of your bank hoarding the details regarding your transactions and account, users are able to decide how and when they want to share these details with other financial services providers and other… Read More

Digital Banking: Hong Kong’s ZA Bank and Mox Account for Around 70% of Region’s Virtual Banking Customer Deposits

ZA Bank and Mox are reportedly leading Hong Kong’s digital bank market,  accounting for around 70% of all virtual banking customer deposits (as of the end of last year). This, according to a report from Reuters that referenced annual reports from banks in the city…. Read More

Nigeria-Based Banking Group Polaris Bank Unveils Digital Bank Platform “VULTe”

  Polaris Bank, a Nigeria-based retail bank, recently announced it launched its own digital banking platform called VULTe. according to Polaris, VULTe’s products and services are designed to help customers’ lifestyles as individuals and make their business become “bigger and better.” Polaris revealed: “At VULTe,… Read More

Starling Bank Scores £50 Million Investment From Goldman Sachs Growth Equity

  UK-based digital banking group Starling Bank announced this week it secured a £50 million investment from Goldman Sachs Growth Equity. According to Starling Bank, the investment is an extension of the oversubscribed £272 million Series D funding round announced in March 2021, which valued it in… Read More

Revolut Business to Offer Currency Forward Contracts or FX Forwards in the UK

Revolut Business revealed on Friday (May 21, 2021) that it’s introducing currency forward contracts (FX Forwards) in the United Kingdom. Revolut Business’ FX Forwards will allow firms of any size – from large corporates to single-person businesses – to set future exchange rates via an… Read More

Digital Onboarding Introduced by Land Bank of the Philippines, Clients May Open Savings Accounts Online without Visiting a Bank Branch

The Land Bank of the Philippines has introduced its digital onboarding platform for its clients so they can easily open up a savings account without being required to visit a physical bank location. The State-managed banking institution unveiled its digital onboarding system, called DOBS Mobile,… Read More

Banking Challenger Monzo Now Offering New and Improved Invoices for Business Pro Clients

Digital bank Monzo has introduced new and improved invoices on Business Pro. The team at Monzo notes that they’ve made in-app invoicing “better” in order to give users more time “for what really matters (like running your business, being with family, or queuing for an… Read More

Digital Banking: Revolut Business Web App has Been Updated, Now It’s Easier to Work with Marketplace Apps

Digital bank Revolut says your account has had “a spring clean.” Revolut Business has a “new look” and a more “personalized” experience. The Revolut team writes in a blog post: “We’ve updated our Revolut Business web app and the new, simpler navigation makes it easier… Read More

UK’s Starling Bank Explains how their Overdraft Facility can Serve as Short-Term Safety Net for Clients

UK-based digital bank Starling notes that their overdraft can serve as a short-term “safety net” for eligible or qualified personal customers. The Starling Bank team writes in a blog post that if you don’t have enough funds in your account to cover essential payments or… Read More

Hong Kong based Digital Bank livi Is Offering New BNPL Product with a Mastercard Virtual Debit Card

livi bank, which is notably one of Hong Kong’s eight digital banks, is now offering a Buy Now, Pay Later (BNPL) service with the introduction of livi PayLater that provides an instant installment option along with a virtual Mastercard debit card. The livi PayLater BNPL… Read More

Virtual Banking: Kuwait International Bank Partners Digital Transformation Specialist Mobiquity to Streamline Financial Services

Mobiquity, a digital transformation enabler, has teamed up with Kuwait International Bank (KIB), in order to support the institution’s goal of becoming a leading all-digital Islamic or Shariah-compliant financial service provider. Through the partnership, KIB will be working with Mobiquity’s team of experienced professionals –… Read More

Neobank Not? California Tells Chime to Stop Using the Term Bank

Mr. Potter Banker Banking (1)

When is a bank a bank? While this is a great debate for regulators and existential philosophers, for most people it simply has to do with holding money securely and using it when you want. For years now, Fintechs that have provided bank-like services have… Read More

Digital Banking: Switzerland’s PostFinance Partners Swissquote to Launch Virtual Bank App Yuh, Will be Available May 11

PostFinance, the financial services division of Swiss Post, has teamed up with Swissquote in order to launch a digital banking app, called Yuh. The Fintech app will be available to the public on May 11, 2021. PostFinance and Swissquote had first announced plans to work… Read More

Fintech Finastra’s Fusion Cloud Core Banking Helps Firms Quickly Deploy Digital-First Banks, Company Exec Explains

The Coronavirus crisis has accelerated digital transformation across the world, including the APAC region, which has resulted in many bank branch closures. There’s also been a significant increase in retail banking activities that’s supported by all-digital challenger banks. These virtual banks are digital-first and are… Read More

Philippines based Digital Bank Tonik Reports $20M+ in Deposits in Less than A Month After Launch, Announces Partnership with PESONet

Earlier this week, Philippines based digital bank Tonik partnered with PESONet in order to support safe and secure digital fund transfers to its account from other banking service providers. Tonik clients now have the option to send money from a PESONet participating bank directly to… Read More

Hong Kong based Digital Banking Challenger ZA Bank to Provide SME Loans Up to HKD 18 Million

Hong Kong-based digital banking challenger ZA Bank has revealed that it’s providing a financing guarantee facility of as much as HKD 18 million (appr. $2.32 million). The plan is referred to as the “ZME $18M Loan.” The new product is described as a business revolving… Read More

UK Fintech Cashplus Adds Francesca Shaw, the Former CFO at Hoare & Co., to its Board as Non-Exec Director

UK-based Fintech Cashplus, which recently received approval to become a regulated bank after operating as an e-money institution for many years, has expanded its board by welcoming Francesca Shaw as a non-executive director. Shaw will also serve as Chair of the digital bank’s audit committee… Read More

Revolut Releases New Version of Banking App

Digital bank Revolut has updated its banking app to version 8.0. The Fintech says the new version delivers a more simplified and customizable experience for its 15+ million users. A key feature of the app is a new hub that allows users to browse all… Read More

Current Raises $220 Million Series D, Now Valued at $2.2 Billion – Triples in Value in Just 5 Months

Current, a fast-growing neo-bank, has raised $220 million at a valuation of $2.2 billion. Current notes that the company has tripled in value in the past 5 months. In total, Current has raised $400 million in venture funding. The Series D funding round was led… Read More

Digital Banking Challenger Monzo Adds New Features for Customers’ Connected Accounts and Virtual Cards

UK-based banking challenger Monzo recently revealed that it has added new features for its customers’ connected accounts and virtual cards. The Monzo team writes in a blog post: “We’ve added some exciting new features to help you get more visibility and control over your other… Read More

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