Tagged: digital banking

Bengaluru-based Digital Bank RazorPay Reports “Tremendous Adoption” of Fintech and Virtual Payments Due to COVID-19

Bengaluru-based Digital Bank RazorPay reports that there has been a significant increase in the number of digital payments, following the Coronavirus (COVID-19) outbreak. RazorPay notes in its recent report that only a month into the nationwide lockdown in India, there has been a noticeable shift… Read More

Monese Rolls Out Desktop Online Banking Services

Digital banking group Monese recently announced its users may now log into their Monese accounts from their desktop with the new Monese for Web services. Monese reported that it designed the web version of its banking services to provide users with more tools and “better”… Read More

The Case for Digital Banking Services in Malaysia, and Globally, has Become Stronger Due to COVID-19: Report

The Coronavirus (COVID-19) outbreak has created major social-economic challenges for individuals and businesses throughout the world. The pandemic has led to an increase in the use of Fintech-focused services, which has helped some companies generate more revenue during these difficult times. However, the crisis has… Read More

Digital Banking: Sumitomo Mitsui Financial Group, Japan’s Second-Largest Bank, Partners SBI Holdings to Offer Mobile-based Banking Services

The Sumitomo Mitsui Financial Group (SMFG), which is Japan’s second-largest financial institution by market cap, will reportedly sign an agreement with SBI Holdings, a Tokyo-based financial services company group, in order to provide digital banking services via mobile devices. As reported by Nikkei on April… Read More

Digital Bank Revolut Partners Digital Advertising Platform Adzooma to Offer Assistance with Marketing to Business Clients

Digital bank Revolut has reportedly partnered with Adzooma, a digital advertising platform, in order to provide assistance with marketing to its business clients. Adzooma’s proprietary software has been developed specifically to help SMEs with establishing effective online marketing strategies. The Adzooma platform may be used… Read More

Digital Banking: Argentinians are Increasingly Using Online and Mobile-based Apps for Everyday Transactions Due to COVID-19

In the South American country of Argentina, where most people prefer to make cash payments, a strict nationwide lockdown (due to COVID-19) has forced local consumers into considering digital banking and online payments options. Before the Coronavirus-related lockdown went into effect on March 20, 2020,… Read More

Challenger Bank Zelf to Launch its own Digital Banking Software that will work only via Popular Messaging Apps like WhatsApp

Challenger Bank Zelf is reportedly planning to introduce its digital banking offering which will operate exclusively through widely-used messaging apps. The Latvian Fintech firm claims that it has already signed up more than 58,000 users, who are waiting for the official launch of Zelf’s virtual… Read More

Digital Banking: Israel’s First Neobank, backed by Tata Consultancy Services, to Launch Next Year After Acquiring Banking License

  India-based Tata Consultancy Services Ltd. (TCS), the country’s largest multinational information technology (IT) service and consulting firm, confirmed recently that it will launch the very first all-digital bank in Israel. As previously reported, Tata’s neobank project aims to transform existing business and banking processes…. Read More

Digital Banking: Senior Citizens in Singapore are Increasingly Using Online-only Banks Due to COVID-19 Outbreak

An increasing number of consumers are now staying indoors and working from their homes, due to the deadly and highly contagious Coronavirus (COVID-19) outbreak. There’s reportedly been a steady growth in digital wealth and online banking solutions and services are increasingly being used, even by… Read More

Digital Transformation: Canada’s Largest Banks have Spent Over $71 Billion on Upgrading Financial Technology Infrastructure

The largest financial institutions in Canada have reportedly spent over $71 billion (appr. C$100 billion) on technology since the financial crisis, in order to accommodate an increasing number of customers who now prefer to use digital banking platforms. According to several reports, the Coronavirus (COVID-19)… Read More

Digital Bank N26 Reveals that Americans Are Saving About $220 per Month Due to Isolation Measures Following COVID-19 Outbreak

N26 Inc., the US-based subsidiary of digital bank N26 GmbH, one of the fastest-growing mobile-based banks in Europe, has published its global and US-specific research report, which reveals the impact that the Coronavirus (COVID-19) pandemic has had on the neobank’s finances. The all-digital bank reportedly… Read More

Digital Banking Apps in the US Experience 60% Increase in Downloads, 17% Revenue Growth in Past Month Due to COVID-19: Report

San Francisco-based AppsFlyer, a software-as-a-service (SaaS) mobile marketing analytics and attribution platform, reports a 22% increase in in-app purchases during the past two weeks. This, as US residents have begun to rely even more on their mobile devices while being stuck at home due to… Read More

Dutch Banking Challenger bunq Introduces Joint Accounts for Premium and Business Account Holders

European challenger bank bunq is introducing joint accounts for its Premium and Business account holders. Bunq+1 users will now have the option of opening an account for anyone they want to, which includes their partners and children. Bunq+1 business clients can create new accounts for… Read More

Digital Banking: UK-based Neobank Monzo Applies for Banking Charter in the US

UK-based digital bank Monzo has been planning to enter the US market for a fairly long time. A beta launch in the US was announced in late 2019. The banking challenger, which has been valued at over $1 billion, has managed to almost double its… Read More

Digital IDs: Tokyo-based Mizuho Bank to Test Online Customer Identification System based on Facial Recognition

Tokyo-based Mizuho Bank, the integrated corporate and retail banking division of Mizuho Financial Group (TYO: 8411; NYSE: MFG), the third largest financial services company in Japan, has initiated proof-of-concept (PoC) trials and testing of digital IDs that are based on device location and facial recognition…. Read More

Digital Banks: Over 10 Million Filipino Adults are Using Online-Only Banks, Consumers in Other Areas Increasingly Using Neobanks

Digital banks or neobanks have now been around for several years. There are many challenger banks that aim to compete with and provide better financial services than traditional banks and institutions. Conducting transactions online has become more popular due to the deadly Coronavirus (COVID-19) outbreak…. Read More

Mobile Banking Platform Varo Money to Accommodate Former Clients of Digital Bank Moven, which Closed its Consumer Product Offering

San Francisco-headquartered Varo Money, an established mobile banking service provider, is reportedly planning to accommodate the former clients of digital bank Moven, which recently closed down its direct-to-consumer product offering. In March 2020, Moven’s management had reported that it experienced funding challenges due to the… Read More

Digital Bank WeBank to Explore Using DAML, an Open-Source Smart Contract Programming Language for Meeting Regulatory Requirements

WeBank, one of China’s first all-digital challenger banks, has revealed that it will begin exploring  the potential integration of DAML, which is an open-source smart contract programming language developed by Digital Asset (the company). The DAML software has been developed in order to help software… Read More

Digital Banking: Rewire, a Payments Platform for Migrant Workers, Performs Updates Following COVID-19 Outbreak

Rewire, an international banking service provider for migrant workers, recently revealed that it’s making updates to its platform, following the Coronavirus (COVID-19) outbreak. Rewire, which is focused on developing a virtual bank for the migrant workforce, is now offering free digital and physical Mastercards and… Read More

Digital Banking: Computer Services, Inc., a Fintech and Regtech Firm, Updates its Online Banking Products

Computer Services, Inc. (CSI) (OTCQX: CSVI), an established provider of integrated Fintech and regulatory technology (Regtech) services, has updated its digital banking products. The updates have been made so that the company can offer more self-service options to its online banking customers. The upgrades will… Read More

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