Tagged: online 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

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 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

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

Sberbank Unveils Anti-Crisis Support Platform Specifically For SMEs

Russian banking group Sberbank announced earlier this week it is launching an anti-crisis support platform, SberUnity, that is specifically for SMEs. According to Sberbank, SberUnity was created to help businesses find new solutions and transform their companies from offline to online ones. Sberbank also claims… 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: Qatar’s Commercial Bank Introduces Employee Payment Card for Online Transactions, Remittances

Qatar-based Commercial Bank revealed on April 12, 2020, that it’s launching two new products that offer digital payment and remittance solutions. Joseph Abraham, Group CEO at Commercial Bank, confirmed during a video press conference that the bank has introduced the “CB Household Worker PayCard,” which… Read More

Digital Banking Service Provider, Finanteq, to Launch New Programs for Financial Institutions to Help Cope with Coronavirus Pandemic

Finanteq, a software and consulting firm that specializes in digital banking solutions, recently launched a new program for banks. Andrzej Sierpiński, managing director at Finanteq, stated: “The number of [physical] bank branches has been decreasing for years. But as a result of the COVID-19 crisis,… Read More

Digital Banking: Standard Chartered-backed Neobank Mox Opens App to Selected Customers in Hong Kong

Standard Chartered, a British multinational banking and financial services company with over $700 billion in total assets, has confirmed that its new Hong Kong-based digital bank Mox is opening its app and platform to a select group of external clients, following its brand name and… Read More

Instant Banking: N26 Now Offering Customers the Option to Use New Cards to Make Payments Before Arrival

Digital-only bank platform N26 announced earlier this week its customers may now use their new cards to make payments without waiting for the physical one to arrive in the mail. This news comes just a little over a month after N26 announced its products, N26… Read More

Australian Neobank 86 400 Secures $34 Million in Capital from Morgan Stanley, Others

Cuscal-backed digital bank 86 400 has secured $34 million in funding from its first outside investors. The Australian neobank’s Series A investment round was led by Morgan Stanley. The banking challenger has acquired a total of $90 million in capital. The bank’s latest round included… Read More

Hong Kong’s Hang Seng Bank Introduces “Haro WhatsApp” Chat Contact to Assist Customers with Digital Banking

Hong Kong-based Hang Seng Bank, a banking and financial services company, has launched a new chat contact for WhatsApp users based in the city, which is a special administrative region of the People’s Republic of China. The new chat feature aims to provide a direct… Read More

Australian Digital Bank Up Slashes its Savings Interest Rate, Following Reserve Bank’s Recent Cuts

Up is the latest digital banking service provider to slash its savings rates following the Reserve Bank of Australia’s recent cut to the nation’s official interest rates. The Melbourne-headquartered neobank has adjusted the maximum rate on its Saver Account. The new rate has been marked… Read More

Starling Bank Announces Launch of Mobile Cheque Deposits

UK-based digital banking group Starling Bank announced on Monday the launch of its mobile cheque deposit services. Starling Bank reported that customers may now “capture” an image of the cheque and its mobile app will “read the details” to place the funds into the account…. Read More

Digital Bank Chime to Test Out New Way to Instantly Send $1,200 in Federal Stimulus Payments to US Customers, Following COVID-19 Outbreak

Chime, one of the largest US-based digital banking startups, is testing out a new way for its customers to instantly receive their $1,200 in federal stimulus checks. The neobank’s clients would be able to receive their cheques weeks before the American government plans to begin… Read More

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