Tagged: neobank

May 16, 2024 @ 10:38 pm By Omar Faridi  |  

Chime, provider of a banking app, is announcing MyPay, a new offering that will aim to transform how everyday people access their pay in America. MyPay, Chime’s innovation, lets eligible members “access up to $500 of their pay, including government benefits, before payday with no… Read More

May 15, 2024 @ 8:58 am By Omar Faridi  |  

bunq, which claims to be one of the largest neobanks in Europe, has taken a significant step forward to upgrade its user-facing AI assistant, Finn, to be fully conversational. The challenger has also “rolled out its worldwide one-time activation travel insurance, in partnership with Qover,… Read More

May 8, 2024 @ 9:16 am By Omar Faridi  |  

The Consumer Financial Protection Bureau (CFPB) took action against Chime Financial for allegedly “failing to give consumers timely refunds when their accounts were closed.” Thousands of consumers waited for weeks or even months “for balance refunds after closing their accounts – a failure that inflicted… Read More

April 9, 2024 @ 2:11 pm By JD Alois  |  

New York-based Adro, a Fintech in the neobanking sector targeting international students etc., is reporting at $1.5 million pre-Seed funding round. According to a statement from the company, the funding round led by Era, with participation from Ex Nihilo Ventures and the Cornell Tech Syndicate…. Read More

April 8, 2024 @ 10:27 am By JD Alois  |  

Bluevine, a neobank targeting the SME/Small business sector, is touting its business checking plans that actually generate interest for account balances. Bluevine’s APYs range from 2% to 4.25% – depending on the balance. Also, Bluevine offers FDIC insurance up to $3 million. Broken out by… Read More

April 7, 2024 @ 11:25 am By Omar Faridi  |  

Bluevine, which claims to be the all-in-one banking platform specifically designed for small businesses, announced it will provide customers three different options for their Bluevine Business Checking account – so they can choose the plan that does the most to unlock additional growth for their… Read More

April 7, 2024 @ 9:12 am By Omar Faridi  |  

As the financial industry grapples with serving an increasingly mobile and digital-first customer base, neobanks are stepping up to fill the gaps left by legacy institutions. Raman Korneu, CEO and Co-founder of myTU, shares his insights on how cloud-native technology and AI can drive a… Read More

March 28, 2024 @ 11:08 am By JD Alois  |  

Yesterday, CI reported on a new circular issued by the US Consumer Financial Protection Bureau (CFPB) warning international transfer firms to stop adding “junk fees” to the transfers and demanding greater transparency in the process. Misinformation in the industry is frequent, and some providers abuse… Read More

March 8, 2024 @ 9:39 am By JD Alois  |  

MoneyLion (NYSE:ML) reported earnings this past week, which were received positively by investors. Following the earnings release, MoneyLion shares rocketed by almost 30%, and shares are expected to move higher following jobs data released this morning. MoneyLion is a Fintech that serves both retail and… Read More

February 27, 2024 @ 8:00 am By Omar Faridi  |  

Saldo Bank, which is starting its operations in Sweden, offers an interest rate of as much as 5% for a year’s deposit. Jarkko Mäensivu, the CEO of Saldo Bank, said: “We want to increase fairness in fixed-term deposits.” The digital neobank with a Finnish background,… Read More

February 24, 2024 @ 10:33 am By Omar Faridi  |  

In line with its effort to enhance financial security for Malaysian families, PolicyStreet partners with neobanking service provider Vircle to introduce Vircle Club Protect—an exclusive embedded coverage “for children available to all Vircle VISA prepaid card subscribers.” Vircle, known for its parent-friendly e-money solutions, “empowers… Read More

February 16, 2024 @ 5:14 pm By Tony Zerucha  |  

Neobank Dave this week announced it has joined the American Fintech Council, an industry association representing fintech companies and banks. Dave partners with Evolve Bank & Trust, an FDIC member. “Our members are setting the standard for the responsible use of innovation to increase competition in… Read More

January 30, 2024 @ 9:39 am By JD Alois  |  

As was previously announced, Neobank Dave (Nasdaq: DAVE) has repurchased a convertible note that was held by FTX Ventures, the VC arm of FTX, initially funded with $2 billion. In a public statement Dave noted the original principle amount was $100 million with a purchase… Read More

January 29, 2024 @ 11:13 am By JD Alois  |  

Koho, a Canadian Fintech, says it is moving forward with its pursuit of a banking license. According to a note from the firm, Koho has entered the “next phase” of securing approval from regulators. Koho currently offers a spending and savings account and an integrated… Read More

January 26, 2024 @ 8:29 am By Omar Faridi  |  

UK neobank Science Card collaborates with UCL Mechanical Engineering to generate research funding for neurodegenerative diseases. Science Card, the home of Britain’s e-money current accounts dedicated to accelerating science and innovation, has announced the launch on its platform of a research project on neurodegenerative diseases,… Read More

January 17, 2024 @ 9:20 pm By Omar Faridi  |  

Aisera, a pioneer of Generative AI solutions for the enterprise, announced that Dave Inc. (Nasdaq: DAVE), one of the nation’s neobanks, has “leveraged Aisera’s technology to create DaveGPT – a generative AI assistant that offers self-service customer inquiry resolution.” Customized to Dave’s specific business needs,… Read More

December 13, 2023 @ 12:30 pm By JD Alois  |  

Upgrade has announced a new type of card – a “secured credit card,” the Secured OneCard, that aims to support individuals who struggle to get credit or underbanked individuals. In a company statement, Upgrade said the new product will incorporate a savings account that will… Read More

December 1, 2023 @ 9:33 am By JD Alois  |  

Neobank Bluevine is reporting that it has topped $1 billion in deposits for its SME banking customers. The Fintech provides FDIC-covered accounts in partnership with Coastal Community Bank. Lines of credit are issued by Celtic Bank, a Utah-chartered Industrial Bank. Bluevines states that accounts have… Read More

November 26, 2023 @ 11:48 pm By Omar Faridi  |  

Kingston University is collaborating with UK neobank Science Card in order “to drive major breakthrough in cervical cancer treatment.” Science Card claims that it is creating “a unique science funding infrastructure by collaborating with UK universities to enable users of its socially-conscious e-money current account… Read More

November 20, 2023 @ 9:28 am By Omar Faridi  |  

OakNorth, the neobank for entrepreneurs, by entrepreneurs, has today published new research with the Social Market Foundation, a cross-party think tank, revealing the outsized impact of scale-up businesses1 on the UK economy by region, country, and sector. The new report, titled ‘The Scale of the… Read More