Tagged: banking

April 17, 2024 @ 11:00 am By Omar Faridi  |  

Mambu, a cloud banking platform, and Leeds Building Society, the fifth largest building society in the UK, have entered a strategic partnership to help Leeds modernize its core banking system. By using Mambu, underpinned by Amazon Web Services (AWS), Leeds Building Society will have “an… Read More

April 16, 2024 @ 12:49 pm By JD Alois  |  

Lisbon, Portgul-based Bison Bank says it has seen revenues increase by 240% in 2023 when compared to the year prior. Bison Bank is focused on providing a range of Wealth Management, Custody, and Investment Banking services to individual and institutional clients. Affiliated firm, Bison Digital… Read More

April 16, 2024 @ 7:03 am By Omar Faridi  |  

Once a top UK peer-to-peer lender and today a digital bank, Zopa Bank has announced its first full year of profitability. Zopa announced a pre-tax profit of £15.8 million for the financial year ending 31 December 2023, up from a pre-tax loss of £26 million for… Read More

April 13, 2024 @ 1:45 pm By Michael Wong  |  

Alfa-Bank has achieved a significant technological milestone by becoming the first bank in Russia to launch its mobile banking application, Alfa-Online, on the domestic Aurora operating system, now updated to its fifth version. This initiative marks a notable advancement in the integration of Russian-developed technology… Read More

April 12, 2024 @ 8:50 am By Omar Faridi  |  

Digital bank bunq has reported a net profit of €53 million for 2023 as part of its annual report. bunq also revealed that it acquired additional funding of €29 million from its existing backers. This is reportedly part of Bunq’s efforts for expanding business operations… Read More

April 10, 2024 @ 1:54 pm By Omar Faridi  |  

Nubank Ultravioleta, the seamless experience provider for high-income Nubank (NYSE: NU) customers, announces its entry into the travel segment with the pre-launch of its Global Account, in partnership with Wise Platform, which is Wise’s (LSE:WISE) global infrastructure solution for banks and large companies. Starting now,… Read More

April 10, 2024 @ 8:18 am By Omar Faridi  |  

Santander (NYSE: SAN) is announcing the launch of a new national, digital offering in the United States under the Openbank brand in the second half of 2024. Openbank will also be launched in Mexico in the same timeframe. Openbank operates with “a technological platform designed… Read More

April 10, 2024 @ 8:15 am By Omar Faridi  |  

N26, Europe’s digital bank, announced the launch of Joint Accounts in 21 new markets. Joint Accounts allow N26 customers to “manage both their personal finances as well as finances shared with a partner – all in the N26 app, and at no extra cost.” This… Read More

April 9, 2024 @ 11:37 am By JD Alois  |  

There has been a decades-long trend of smaller banks getting hoovered up by larger banks in the US. Unlike some other countries, the US has thousands of banks—most of them small. But this has been changing as scale counts, and the need to invest and… Read More

April 8, 2024 @ 7:07 pm By JD Alois  |  

Finzly, a Fintech that aims to provide banking services for both regulated banks, neobanks, Fintechs, etc., has announced the launch of an embedded banking service. Finzly completed a funding round in late 2023, raising $10.05 million in a Reg D offering. In a public release,… 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 @ 8:16 pm By Michael Wong  |  

Shinhan Bank, a prominent player in South Korea’s banking sector, is set to enter the digital arena, vying for a license to become the country’s fourth internet-only bank, according to a Korea Herald report. The move positions Shinhan to compete with established digital banks such… 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

April 5, 2024 @ 9:35 am By JD Alois  |  

ZA Bank, one of the first regulated digital banks in Hong Kong, is now supporting stablecoins. Stablecoins are digital assets tied to another asset. Typically, this means fiat currency like the US dollar or Euro, but they can also be tied to other assets like… Read More

April 4, 2024 @ 8:06 am By Omar Faridi  |  

N26 announced the launch of its Stocks and ETFs trading product in Germany. The company also announced “an increased interest rate of 4% on Instant Savings for N26 Metal customers from April 9th, 2024, as it continues to expand and improve its integrated savings and… Read More

April 3, 2024 @ 10:26 pm By Omar Faridi  |  

Treasury Prime, an embedded banking software company, announced today its strategic partnership with Narmi, a provider of digital banking solutions for financial institutions. This collaboration enables Treasury Prime’s banking customers “to send and receive money instantly through the FedNow Service and integrate the FedNow experience… Read More

April 1, 2024 @ 12:33 pm By Omar Faridi  |  

Nubank (NYSE: NU), which claims to be one of the world’s largest digital financial services platforms, reportedly ranks among the most valuable brands in Brazil. The Kantar BrandZ 2024 ranking places Nubank in fifth position, “a 28% increase compared to the previous ranking in 2022.” Juliana… Read More

April 1, 2024 @ 12:31 pm By Omar Faridi  |  

U.S. retail bank customers are losing faith in their bank, and customer attrition is a concern. According to the J.D. Power 2024 U.S. Retail Banking Satisfaction Study, released recently, consumer trust in retail banks “has declined significantly during the past two years, with unexpected fees,… Read More

March 29, 2024 @ 8:09 am By JD Alois  |  

Monzo, a UK-based digital bank, says it now can accept accounts from Limited Companies owned by other firms. These firms may now apply for a business account. In a blog post, Monzo explains that many Limited Companies are owned by individuals, but as the company… Read More

March 27, 2024 @ 12:12 pm By Omar Faridi  |  

Lloyds Bank’s latest Business Barometer has found that business confidence remains high, with March’s figures unchanged month-on-month at 42%. In a promising sign of a return to economic growth, this month’s survey data reflects the continued confidence firms “have demonstrated so far in 2024 and… Read More