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FinTech Revolut’s Losses Triple As Customer Base Grows

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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 , one of the biggest players in the crowded financial technology (FinTech) sector, has yet to make a profit. The FinTech has since expanded to offer business banking.

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Kuwait Debuts FinTech Sandbox

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As evidence that sandboxes are ever-increasingly a global phenomenon, Kuwait’s central bank put forth guidelines this week that are geared toward companies seeking to meld financial technology (FinTech) and financial services (FinServ). The sandbox, Reuters reported, has four phases.

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Varo Achieves Milestone As First Consumer FinTech To Get National Charter

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Colin Walsh got lots of laughs five years ago when he talked of his intention to launch a financial technology (FinTech) startup. the San Francisco-based online bank, had the last laugh. Varo is the first consumer FinTech to receive a new national bank charter from the U.S.

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

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A new Singaporean digital bank formed in a joint venture between Grab Holdings Inc. will hire 200 people before launching publicly in early 2022, Bloomberg reported. The new digital bank is coming about after the joint venture won one of two licenses for full digital banks awarded last week (Dec.

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Top News In Payments: JPMorgan Blocks FinTechs From Passwords; Ant, Razer Join Rally For Singapore eBank Licenses

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In today’s top payments news, JPMorgan blocks FinTechs from accessing customers’ passwords, and Ant Financial and Razer throw their hats into the ring for one of Singapore’s five available digital banking licenses. Plus, Indonesia is planning to implement flat-rate fees for certain digital wallet transactions.

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London FinTech Raises $4M For ‘Social’ Bank

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A financial technology company called B-Social has raised £3.2 million ($4 million) in funding from undisclosed but high net-worth entities, according to reports. The FinTech is aiming for a bigger U.K. We recognise that almost all financial transactions are inherently social,” B-Social CEO Nazim Valimahomed said. “We

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Today In Digital-First Banking: Sea Purchases Indonesian Bank BKE; PSCU Extends Partnership With Fiserv

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In today’s top digital-first banking news, Singapore tech startup Sea has reportedly bought Indonesia’s PT Bank Kesejahteraan Ekonomi (Bank BKE), while credit union service organization (CUSO) PSCU has lengthened its payment processing collaboration with Fiserv. Singapore Tech Startup Sea Buys Indonesian Bank BKE.