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Ant Financial Could Pursue Digital Banking License In Singapore

PYMNTS

The Monetary Authority of Singapore is offering as many as five digital banking permits to non-banks to boost competition. Ant Financial produced a pre-tax profit in the neighborhood of around $200 million, according to Alibaba’s yearly report. billion ($1.1 billion) in capital and local control.

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Virtual cash management: A catalyst for new business models for European transaction banks

Accenture

A recent Accenture roundtable discussion concluded that European banks have the opportunity to develop innovative transaction banking offerings using virtual accounts, such as virtual cash management, to address changing market needs and create new business models.

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Penta Offers Digital Accounting, Receipt Services

PYMNTS

Customers of digital business banking platform Penta will now have the option to manage accounting and receipts digitally as the company partners with Germany-based DATEV Marketplace , a company news release stated.

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Neon Lands $300M In VC Funding For Brazilian Expansion

PYMNTS

Brazilian digital bank Neon is gearing up for another big wave of expansion after landing hundreds of millions of dollars in venture capital funding. The MEI Fácil platform provides tax and payments products. Founded in 2016, Neon Pagamentos on Wednesday (Sept. Neon says its user base now tops 9.4

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NorthOne Taps Radius Bank For SMB Mobile Banking

PYMNTS

The banking platform is designed for mobile devices and API connectivity, with NorthOne noting that development partner Treasury Prime designed that API technology to streamline account opening and management. Last year, the Canada-based company raised $2 million from investors Peter Graham, Tom Williams and Ferst Capital Partners.

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Fintech Deals to Watch: Back to School

Gonzobanker

Digital Engagement Had Great Attendance and Extracurriculars. Digital banking provider Alkami acquired data analysis and marketing campaign management provider Segmint Digital banking and payments provider Bottomline was acquired by Thoma Bravo for $2.6B.

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How Axis Bank Prevents Identity Fraud With Video-Based Onboarding

PYMNTS

The ongoing COVID-19 pandemic and its associated social distancing and stay-at-home orders have pushed untold services online for easier consumer access, with banking serving as a prime example. We’ll see more and more [of this] action as digital [banking] progresses.”. Fraud Threats To Digital Banking.

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