article thumbnail

Singapore sees ‘strong interest’ in digital bank licenses

Bank Innovation

Singapore has received “strong interest” in its effort to open up the banking industry to fresh competition after 21 groups made bids for digital licenses, the financial regulator said.

article thumbnail

Varo’s bank charter process a test for consumer banking startups

Bank Innovation

This week, digital banking startup Varo received approval from the Federal Deposit Insurance Corporation, a significant milestone in the company’s three-year quest to become a bank.

Insiders

Sign Up for our Newsletter

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

article thumbnail

Varo crosses 1 million customers, with plans to become a bank by 2020

Bank Innovation

Digital banking brand Varo has 1 million customers, and is pushing ahead with plans to become a nationally-chartered bank early next year, CEO Colin Walsh told Bank Innovation Tuesday.

National 284
article thumbnail

Three Things That Thwart Digital Banking Product Development

The Financial Brand

The post Three Things That Thwart Digital Banking Product Development appeared first on The Financial Brand. Lengthy time-to-market delays put traditional financial institutions at a competitive disadvantage. Here's how to turn that around.

article thumbnail

Finovate Fall 2016 Live Blog – Day 1

William Mills

Andrew just needs to review the account and forward on to compliance for their review. Andrew can snooze until Compliance has done their work so his workspace is not cluttered. Demo: Bank needs to investigate a payment which could take days. Customers include banks, PSP’s and others. Their application is middleware.

Mobile 40
article thumbnail

37 Corporate Innovation Labs In Finance

CB Insights

Working with FCAT, the charity searched for third-party vendors and iterated testing on compliance with legal and regulatory requirements to be able to accept Bitcoin. PWC — Center for Technology and Innovation (CTI). Notable projects: GFT and digital bank Fidor AG formed an innovation partnership in 2016.