Tagged: digital bank

April 22, 2024 @ 8:59 pm By Omar Faridi  |  

Grasshopper, the digital bank built for the business and innovation economy, announced the launch of a digital application for borrowers to apply directly for Small Business Administration (SBA) loans. Small business owners can now get pre-qualified for “an SBA 7(a) loan in less than 10… Read More

April 22, 2024 @ 8:17 pm By Michael Wong  |  

Aeon Bank (M) Bhd, a recipient of one of Malaysia’s five digital banking licenses, announced plans to commence operations and launch its banking application by the end of Q2 2024, news agency Bernama has reported. Raja Teh Maimunah Raja Abdul Aziz, CEO of Aeon Bank,… Read More

April 22, 2024 @ 8:20 am By Omar Faridi  |  

UK’s Allica Bank is pleased to share that their firm achieved their first full year of profitability in 2023. Just three years since Allica Bank opened their doors to lending, it makes them one of the fastest fintechs in the UK to do so, the… Read More

April 20, 2024 @ 7:51 am By Omar Faridi  |  

Analysis of pseudonymized and aggregated data from 3.6 million Nubank (NYSE: NU) customers illustrates drivers and barriers along the journey to long-term financial health. Recently, Nubank and Mastercard (NYSE: MA) released findings “from a study measuring the financial inclusion impact on individuals, including some who… Read More

April 19, 2024 @ 9:55 am By Omar Faridi  |  

Mercury, the fintech that is said to be used “over 100,000” startups for banking, announced its expansion into consumer banking with the launch of Mercury Personal, which is described as a powerful personal banking experience designed with the best of today’s technology to help builders… 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 16, 2024 @ 6:23 am By Omar Faridi  |  

OakNorth, the digital bank for entrepreneurs, by entrepreneurs, has provided a further £12.2m loan to returning customer and SME housebuilder, honey, to part fund the acquisition and development of two of its latest major residential schemes. Founded in October 2022 by former Avant Homes CEO,… 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 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 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

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 26, 2024 @ 6:34 pm By Omar Faridi  |  

Alibaba’s Ant Group has reportedly committed another SGD 200 million investment into ANEXT Bank, which is its wholly-owned subsidiary and SME digital bank. This, according to media reports from March 25, 2024. As reported by DealStreetAsia, the digital finance and technology firm had previously committed… Read More

March 25, 2024 @ 11:07 pm By Michael Wong  |  

Thailand energy conglomerate Gulf Energy Development Plc is teaming up with telecommunications powerhouse Advanced Info Service Plc (AIS) and the esteemed Krungthai Bank Plc (KTB) to enter the burgeoning field of virtual banking in the country. According to a report by The Nation, this collaboration… Read More

March 25, 2024 @ 8:46 am By Omar Faridi  |  

Digital bank N26 recently announced the appointment of Mayur Kamat as its new Chief Product Officer. Mayur is said to have “a proven track record leading product teams and building new solutions at some of the world’s biggest technology companies.” He reportedly brings with him… Read More

March 19, 2024 @ 4:13 pm By Omar Faridi  |  

Tonik, the digital bank in the Philippines, announces the appointment of Mr. Cesar O. Virtusio as a new Independent Director on the Board of its regulated bank subsidiary, Tonik Digital Bank Inc. Mr. Virtusio, an experienced professional in the Philippine and foreign banking and finance… Read More