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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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India-based digital bank Open hits $1B valuation. Open competitors are SaveIN, Niyo, Fi, Freo, and Walrus.

CB Insights

Open , a digital bank, has raised $50M in a Series D. Download the report to learn more.</p> q1 2022 brought a -18% decline in quarterly fintech funding. .</p> q1 2022 brought a -18% decline in quarterly fintech funding. .</p> q1 2022 brought a -18% decline in quarterly fintech funding.

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Neo Financial raises $145 in Series C funding. Neo Financial, a Canadian digital bank, competitors include Koho Financial, Wealthsimple, Stack, Mogo, Tangerine Bank, and EQ Bank.

CB Insights

Neo Financial , a Canadian digital bank, has raised $145M in a Series C. Download the report to learn more.</p> q1 2022 brought a -18% decline in quarterly fintech funding. .</p> q1 2022 brought a -18% decline in quarterly fintech funding. .</p> Download the report to learn more.

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Business Payments FinTechs Embrace A Time To Innovate

PYMNTS

Mobile is an increasingly important part of Bill.com's strategy, with chairman, CEO and Founder Rene Lacerte pointing to the company's mobile app as a growing source of platform engagement for the company, and September seeing a year-on-year doubling of Bill.com mobile app downloads.

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Scotiabank: Why Banks Need To Rethink Personalization

PYMNTS

In the July Digital-First Banking Tracker® , PYMNTS explores the latest in the world of digital-first banking, including the long-lasting effects brought on by the pandemic, the shifting attitudes surrounding ATM use, and how the digital banking development field is reaping dividends from the financial industry’s sea change.

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Digital-First Banking With A Human Feel

PYMNTS

“Consumers are now leaning heavily on digital banking to meet their financial needs. Banking app downloads have increased 60 percent since the pandemic became widespread, with banking app revenue growing 17 percent,” according to PYMNTS’ May 2020 Digital-First Banking Tracker® , a collaboration with NCR.

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Deep Dive: How Understanding Open Banking Rules Can Help Merchants Gain Consumers' Trust

PYMNTS

It also details how open banking’s expansion can help businesses build trust with new or existing customers seeking more secure ways to shop. More consumers than ever are transacting online and leveraging digital banking services that pull data from multiple financial providers for more robust pictures of their spending or financial status.

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