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ADVANCE.AI Consortium Seeks Singaporean Digital Banking License

PYMNTS

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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The Race For Singapore’s Digital Banking Licenses

PYMNTS

In late June, the Monetary Authority of Singapore (MAS) sent a ripple through the global financial services ecosystem with the announcement of its intention to issue five digital bank licenses to eligible applicants. Only two of the licenses will full digital banking licenses, while the other three will be wholesale banking licenses.

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Anglo-Gulf Trade Bank Gets First Digital Banking License From Abu Dhabi Global Market

PYMNTS

Anglo-Gulf Trade Bank (AGTB) was awarded the first digital banking license and Category 1 status from the Financial Services Regulatory Authority (FSRA) of Abu Dhabi Global Market (ADGM), Islamic Business & Finance reported on Wednesday (Sept.

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Visa Ups Innovation Ante With US FinTech Fast Track Launch

PYMNTS

As PYMNTS readers know, the role and appeal of FinTech is increasing significantly as consumer demands rapidly change, and technology and regulatory efforts encourage further innovation in digital payments and global transactions. They include the money transfer operation InstaReM , and the digital wallet operation Razer.

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Digital Banking Leads to Most Bank Branch Closings Since Great Depression

Bank Innovation

Is digital banking killing physical bank branches? How much truth is there to the longtime fear that online banking will replace consumer interaction with bank branch tellers?

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Nigerian FinTech Kuda Raises $1.6M For Digital Banking Tech

PYMNTS

“It’s Nigeria for right now, but the plan is to build a Pan-African digital-only bank,” Ogundeyi said. Tech innovation is on the move in the country, with increased attention from Big Tech companies like Google and digital startups like Chipper Cash , a no-fee, cross-border payment company that launched there earlier this month.

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Southeast Asia B2B FinTech Keeps VC Wheels Turning

PYMNTS

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. KarbonCard. AvidXchange.

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