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Coast Capital On Weathering The Pandemic And Planning For The Future

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CUs’ production units could not afford to miss deadlines with members’ financial needs at stake, said Nancy McNeill , senior vice president of Operations at Coast Capital Savings Federal Credit Union. The pandemic has highlighted CUs’ need to invest in digital and remote solutions, but many of these trends are far from new, McNeill explained.

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Digital Banking Service One Combines Accounts

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One , a new digital banking service in the U.S., The company also announced a Series A funding round that raised $17 million from Foundation Capital, Obvious Ventures and Core Innovation Capital. We’re always on the lookout for changemakers, and One will bring much needed innovation to the industry.”.

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FinTech Cloud Technology Fuels Banking Innovation

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As cloud technologies emerge to help financial institutions (FIs) drive digital innovation, Finastra has introduced its Fusion Payments To Go offering for small and medium-sized banks. In addition, Monese adopted Thought Machine’s cloud banking platform.

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BBVA Teams With Google Pay To Offer Digital Bank Accounts

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BBVA USA is collaborating with Google to offer consumers a digital bank account through Google Pay. The Alabama-based bank holding company said the partnership is key to its strategy? of growing the bank throughout the U.S. reach more customers? financial health?,”

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Consortium Of Singapore Businesses Apply For Digital Banking License

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Another group of Singaporean businesses, Beyond Consortium, has thrown its hat in the ring to apply for the country’s digital bank licenses. The Monetary Authority of Singapore will award five licenses for digital banking, which it plans to announce its decisions on in mid-2020.

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ADVANCE.AI Consortium Seeks Singaporean Digital Banking License

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Yet another business consortium vies for a lucrative, wholesale digital banking license, according to reports. ” The Monetary Authority of Singapore determined last year that it would issue up to five virtual banking licenses to enhance competition and innovation. Winners will be announced in mid-2020.

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Pandemic Impact Affects Singapore Digital Bank License Decisions

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The COVID-19 crisis continues to upend the economy, including even the world of digital banking. As previously reported in this space, the Monetary Authority of Singapore (MAS), the country’s central bank, announced its intention to issue five digital banking licenses last year. That was before the pandemic hit.