article thumbnail

ADVANCE.AI Consortium Seeks Singaporean Digital Banking License

PYMNTS

Yet another business consortium vies for a lucrative, wholesale digital banking license, according to reports. billion in capital on hand, and be governed by Singapore leadership. Other companies include Razer, Grab Holdings and Ant Financial. Their holders can take deposits from retail customers, but must have $1.5

article thumbnail

Digital Bank Chime Suffers Outage Affecting 5M Customers

PYMNTS

Online banking startup Chime has been hit with an outage that has left its 5 million customers with no access to their money. The outage has been going on for the last 24 hours, taking down the company’s website and app, as well as shutting down customers’ debit cards. Earlier this year, it reached a valuation of $1.5

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Neon Lands $300M In VC Funding For Brazilian Expansion

PYMNTS

Brazilian digital bank Neon is gearing up for another big wave of expansion after landing hundreds of millions of dollars in venture capital funding. The expansion comes as Neon rides a wave of growth amid the coronavirus crisis, which has spurred interest in digital banking around the world.

article thumbnail

3 Ways Financial Institutions Can Step Up for Underserved Communities

Perficient

Building trust is not limited to overarching company leadership. Mike Randall, a co-founder of Greenwood, wanted to address the specific issue of bank branches being replaced by check cashing places that charge absurdly high-interest rates. Education and advocacy.

Community 275
article thumbnail

Bank CIOs Must Break Through The Tactical Barrier

Gonzobanker

The operational world of cash, checks, deposit slips, passbooks, and teller terminals used to dominate bank tech budgets. Those were the days of green screen cores and server-based ancillary applications, and digital banking was a Star Trek thing of the future. Next-gen CIOs cannot fulfill this leadership role alone.

Resources 139
article thumbnail

Wintrust, NCR Team For Digital First Banking

PYMNTS

“We have chosen NCR to partner with to maintain our commitment to our customers to deliver the latest digital capabilities in the marketplace.”. “To Wintrust’s investment in digital-first banking positions them for success in the increasingly challenging financial services landscape.”.

article thumbnail

Fraud prevention and detection: Empowering clients through education

Abrigo

Takeaway 2 Client fraud education at financial institutions should include takeaways that explain how to protect themselves from phishing and tips for staying secure online. Takeaway 3 Numerous resources can help banks and credit unions offer training on fraud to help customers or members recognize scams and avoid theft.

Fraud 195