PYMNTS

JUNE 24, 2020

Now, in addition to car and personal loans on behalf of retail and institutional investors, Zopa will introduce savings accounts this week, to be followed by the addition of credit cards later this year. million) to become a challenger bank. Zopa received those funds from a group linked to IAG Capital Partners, a U.S.-based

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PYMNTS

AUGUST 11, 2020

With its losses mounting, the London-based digital bank may need to tap into its corporate reserves to keep up with its expansion plans. Revolut attributed the losses to its expansion into new markets and the introduction of new products. The FinTech has since expanded to offer business banking. million (£106.5

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PYMNTS

APRIL 24, 2020

With social distancing and an economic downturn the new reality for many markets around the world, venture capital is expected to slow significantly. Yet demand for contactless payments and digital, automated financial solutions means FinTech funding may not take as hard of a hit as other startup segments. Cross River Bank.

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Independent Banker

AUGUST 31, 2022

Solutions including Zelle, a bank-based, closed-loop digital payments network, and CHUCK, an open network for instant payments from a consortium of banks, bring with them a frictionless payments experience emanating from the bank’s digital banking app. billion-asset Chesapeake Bank in Kilmarnock, Va.,

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CB Insights

JUNE 10, 2021

Nubank , a fintech company, has raised $750M in an extended Series G round that drew participation from Berkshire Hathaway, Sands Capital, CPP Investments, and MSA Capital, among others. The company caters to more than 40M customers across Brazil, Mexico, and Colombia, making it the largest digital bank in the world.

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PYMNTS

FEBRUARY 14, 2020

Mastercard Gets Nod To Join China’s $27T Payments Market. China’s central bank gave Mastercard the green light on Feb. 11 to set up a bank card clearing business, providing it with access to a $27 trillion payments market. a share with a market cap of $14.6 What Amazon At 10 Can Teach Us About Uber At 10.

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PYMNTS

JANUARY 2, 2020

Gaming company Razer is going after a Singapore digital banking license, along with China’s largest online monetary platform Ant Financial , according to reports on Wednesday (Jan. Razer FinTech will own a 60 percent majority stake Razer Youth Bank, which will be headquartered in Singapore. . Google and Temasek Holdings. .

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PYMNTS

JANUARY 22, 2020

Grab , Razer , AirAsia , Axiata and CIMB join other companies that are considering applying for digital banking licenses in Malaysia, sources told Reuters on Wednesday (Jan. Some are in discussions with consultants for guidance as they ponder a move into digital banking, according to the sources, who are familiar with the matter.

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PYMNTS

SEPTEMBER 18, 2020

On a day that saw a stock market rout – particularly on the tech-heavy NASDAQ, which was down a percent – in at least some areas of finance, investors remain sanguine. Perhaps “overly optimistic” might be the mindset that marks private markets. Regional players like BankUnited have even smaller market caps (at about $2 billion).

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PYMNTS

JANUARY 14, 2020

consumer banking and spending on credit cards. In terms of headline numbers, the banking giant reported earnings per share of $2.57, up 21 percent year on year and well above the $2.35 But drilling down a bit, to get a sense of the state of the consumer, retail banking saw fourth-quarter profit rise by about 5 percent to $4.2

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PYMNTS

MARCH 31, 2020

Tokyo, Japan’s digital banking startup Kyash has closed a $45 million Series C funding deal co-led by Greenspring Associates and Goodwater Capital, Kyash said in a statement on Sunday (March 30). Goodwater Capital also invested in Kyash’s Series B Round. growth equity investment firm Greyhound Capital; U.S.

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PYMNTS

JANUARY 14, 2020

consumer banking and spending on credit cards. In terms of headline numbers, the banking giant reported earnings per share of $2.57, up 21 percent year on year and well above the $2.35 But drilling down a bit, to get a sense of the state of the consumer, retail banking saw fourth-quarter profit rise by about 5 percent to $4.2

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PYMNTS

DECEMBER 1, 2019

The news comes days before its conditional banking license is set to expire on Tuesday (Dec. A source told the Financial Times that Zopa will receive the funds from an entity linked to IAG Capital Partners, a U.S.-based It was given a year to raise regulatory capital, and prove it was financially strong enough to become a bank.

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CB Insights

NOVEMBER 21, 2019

The 2019 Canadian fintech market map. The startups selected for inclusion in the market map below are all Canada-headquartered, VC-backed fintech companies that have at least US $1M in equity funding, and have obtained equity funding since the start of 2015. Navigating the Canadian fintech market map. Capital markets.

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Gonzobanker

MAY 23, 2022

Momentum is growing for banks and credit unions to eliminate or significantly reduce overdraft fees, and many institutions are hard at work planning for how to navigate this revenue transition. What started with Ally and Capital One now includes everyone from Fifth Third to Jovia Federal Credit Union. Market Debit Card Spend.

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PYMNTS

JUNE 21, 2019

A recent study conducted by financial services provider Kasasa and The Harris Poll found approximately 84 percent of Americans determine the products and services they desire first, then search for banks or CUs that offer them. percent of all CU members — currently offer some sort of credit card. The Appeal of CU-Issued Credit Cards.

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PYMNTS

OCTOBER 23, 2020

All-in-one banking app Lili , which is typically used for freelancers, has raised $15 million in a funding round, a press release says, bringing its total raised to $25 million. The new capital will be used to help Lili boost its ever-growing expansion and add to its product and engineering teams and boost customer adoption, the release says.

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PYMNTS

SEPTEMBER 18, 2020

On a day that saw a stock market rout – particularly on the tech-heavy NASDAQ, which was down a percent – in at least some areas of finance, investors remain sanguine. Perhaps “overly optimistic” might be the mindset that marks private markets. Regional players like BankUnited have even smaller market caps (at about $2 billion).

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PYMNTS

JULY 12, 2019

Though not the busiest week in B2B venture capital funding, investors presented a clear preference for corporate expense management and B2B eCommerce, with additional funding going toward logistics and small business banking firms for a total of $203.5 while European investors at Dawn Capital and Accel also participated.

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Gonzobanker

JULY 7, 2015

Yet while the demos and screen shots at events like Finovate have provided fascinating fodder regarding the future of digital banking, the FACTS show that these buzz-worthy players have had infinitesimal impact on market share. Ally Bank $23,212,768 $60,709,382 $37,496,614. Capital One* 29,565,607 54,374,989 24,809,382.

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Gonzobanker

SEPTEMBER 21, 2023

Digital: Pigskin Pick-Ups Bankjoy , a digital banking provider, had a funding round led by the Curql Collective Credit Union Service Organization. Petal spun off Prism Data , a cash flow underwriting solution, and raised equity financing with existing investors and debt financing from Victory Park Capital.

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PYMNTS

NOVEMBER 26, 2019

As SMBs seek opportunities to expand their operations, and reach new customers and markets, they will need the right spend and workforce tools to ensure funds are spent appropriately. This demand is driving the global expense management software market to reach $6.6 billion in value by 2025. Inside The Playbook. Yordex , a U.K.-based

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PYMNTS

SEPTEMBER 15, 2020

Emerging markets have their own challenges when it comes to banking, where big, traditional financial institutions (FIs) are anything but efficient. Consider the fact that in Mexico it can take four to six months to open a business account — and as much as a year to get access to a debit card.

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PYMNTS

OCTOBER 28, 2019

Discover Bank has announced that customers of its savings and money market accounts can now use the Zelle network for person-to-person (P2P) money transfers, according to a press release on Monday (Oct. We are continually listening to what our customers say and are excited to offer Zelle to improve their banking experience.”.

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PYMNTS

DECEMBER 7, 2020

Airbnb’s New IPO Pricing Could Boost Market Cap to $42 Billion. Revolut has launched an acquiring solution for its Revolut Business starter pack, which will allow businesses in 13 European countries to accept credit card payments online. and EEA card payment acceptance at no additional charge.

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PYMNTS

JULY 7, 2020

Using credit cards (aka spending the bank’s money instead of your own) seemed so cool — until it suddenly wasn’t nearly as cool anymore. Those who have lost jobs or faced employment insecurity may be less certain that they can pay off debts and thus prefer to spend only the money they have in their bank accounts.

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PYMNTS

JULY 16, 2020

The bank boosted reserves even as the firm’s active mobile banking users rose 9 percent to 30.3 Active digital-banking users likewise grew 5 percent to 39.3 And on the downside, Bank of America said combined credit/debit card spend fell some 10 percent when compared to a year ago. consumer cards vs. $93.6

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CB Insights

AUGUST 3, 2017

Note that the market map is illustrative, and not exhaustive of companies in the space. Digital Banking : Companies providing online and mobile banking services in place of traditional branches. Wealth Management & Investment : Companies providing digital asset management and investing services. Categories.

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PYMNTS

JULY 27, 2020

Banking veteran Richard Davies is leaving his role as CEO of banking at digital-banking shop Revolut , one year after coming aboard to bring his seasoned skills to the startup, the Financial Times reported. The investor was TSG Capital Partners, according to TechCrunch.

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PYMNTS

NOVEMBER 22, 2019

Talk of a decelerating FinTech venture capital market continued to mount this week with reports that digital banking startup Aspiration is struggling to raise money. Venture Capital Funding. raised $10 million from SEB Bank and Seed Capital for its commercial card technology. Also in the U.K.,

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PYMNTS

DECEMBER 5, 2019

The funding, led by DST Global, is the largest individual equity investment for a challenger bank, surpassing NuBank’s $400 million, which was also led by DST Global, according to CB Insights. DST Global led the Chime’s previous funding round that closed in March, which valued the digital bank startup at about $1.5

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Gonzobanker

AUGUST 17, 2022

Then, bad grades came in right as summer party season kicked off, mom and dad took away the car and credit card, and the Venmo transfers came to a screeching halt. Digital Engagement Had Great Attendance and Extracurriculars. First, there was the drama leading up to the breakup with the rich hottie.

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PYMNTS

OCTOBER 28, 2019

Many of them are technical in nature, as firms — especially FinTech firms and traditional financial institutions (FIs) that want to bring digital payments to new markets — must navigate new relationships with multiple payment processors on a market-by-market basis to gain that acceptance. New Markets And New Users.

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PYMNTS

FEBRUARY 11, 2020

To improve the financial lives of millions of Americans, speed matters — especially for FinTechs seeking to bring new products to market digitally and to target consumers underserved by traditional banking models. As Choubey told Webster, the FinTech traces its roots to providing financial access to 90 million Americans.

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PYMNTS

DECEMBER 17, 2019

Headlines are filled with reports of service outages and data breaches , and both banks and consumers are contending with rising fraud concerns as digital banking takes off. Fraud threatens everyone, yet customers rely on their banks for protection. Legacy banks have taken recent security missteps as well.

Technology 142

Technology Fraud Data Security 142

PYMNTS

OCTOBER 5, 2018

An Amazon of banking? That’s the description — perhaps clichéd but still apt — applied to FinTech firm Curve , which is on the hunt for $50 million in fresh capital, according to recent comments made by CEO Shachar Bialick to CNBC. Compared with other FinTech firms, “Curve is smaller.

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PYMNTS

FEBRUARY 26, 2020

The new platform provides dynamic marketing campaigns based on members’ transactional, lifestyle and behavioral data. The onset of digital banking has drastically changed the way CU customers interact with their financial institutions (FIs), placing a much greater emphasis on self-services like mobile and online banking.

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