article thumbnail

OCC’s New Office of Financial Technology Portends Increased Supervisory Activity

CFPB Monitor

The OCC’s announcement that it will establish an Office of Financial Technology to “bolster the agency’s expertise and ability to adapt to a rapidly changing banking landscape” should come as no surprise to those who have been following recent pronouncements of Acting Comptroller Michael J.

article thumbnail

Core Unicorn Deals Rattling the Future of Financial Technology

Gonzobanker

The unicorns of core banking systems have been running wild the past few weeks, and these frothy deals signal a future shift in how executives should view the world of financial technology. Technisys is known to be a smart digital development shop, but not really a “core” in the traditional U.S. outsourcer variety.

Insiders

Sign Up for our Newsletter

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

article thumbnail

FinTech Revolut’s Losses Triple As Customer Base Grows

PYMNTS

With its losses mounting, the London-based digital bank may need to tap into its corporate reserves to keep up with its expansion plans. The company posted a total loss of $139.6 Revolut , one of the biggest players in the crowded financial technology (FinTech) sector, has yet to make a profit. million (£106.5

article thumbnail

Grab-Singtel Ramps Up Hiring For Singapore Bank; Plans 2022 Launch

PYMNTS

A new Singaporean digital bank formed in a joint venture between Grab Holdings Inc. The new digital bank is coming about after the joint venture won one of two licenses for full digital banks awarded last week (Dec. and Singapore Telecommunications Ltd. 4) by the Monetary Authority of Singapore.

article thumbnail

Revolut Brings Open Banking To Germany In Deal With TrueLayer

PYMNTS

Earlier this year, the European digital bank had taken on Ireland, France and Italy. In a press release, Revolut said the latest expansion would bring open banking to its users in Germany. Revolut said its new open banking offer was developed with TrueLayer , a London-based financial technology (FinTech) company.

article thumbnail

Tonik announces a strategic partnership with Xendit

The Paypers

Singapore-based Tonik Digital Bank ( Tonik ) has announced a strategic partnership with financial technology company Xendit.

article thumbnail

New EU Card Rules Could Confuse Customers

PYMNTS

The European Union has issued new rules for contactless payments, which has caused confusion and forced one digital bank to issue new cards, according to a report in the Telegraph. A digital bank called Bó , started by Royal Bank of Scotland (RBS), has had to issue 6,000 new cards because of the new regulation.

Cards 204