EMQ Opens Gateway to China
- 5 years 7 months ago
- Banking
EMQ, a global financial settlement network today announced that customers from around the world can make secure and reliable cross-border money transfers to their family or friends leveraging the company’s extensive real-time pay-out network.
Revolut enters UK savings market with easy-access account that offers a market-leading rate of 1.35%
- 5 years 7 months ago
- Banking
Revolut, the global financial platform with over ten million customers in the UK and Europe, has today entered the UK savings market, in partnership with Flagstone, offering an easy-access savings account with a limited market-leading interest rate of 1.35% AER. The new Savings Vault, which is FSCS protected up to £85,000 through Paragon Bank, is an addition to Revolut’s popular Vaults feature.
Monzo and Starling Among Account Switching Winners
- 5 years 7 months ago
- Retail Banking
Just five UK banks, two of them challengers, managed a net gain of customers in the third quarter of 2019, according to figures from the Current Account Switch Service. Nationwide Building Society continues to have the largest net switching gain among the Current Account Switch Service’s 49 participant, putting on 25,355 customers in the quarter. Digital challenger Monzo gained 21,576, HSBC 17,204, Starling 7,075 and tiny ethical player Triodos... more
Barclays announces new fintech partnership with insurance pioneer, Nimbla
In a high street banking first, Barclays has announced a partnership with Nimbla, a pioneer of single invoice insurance. Barclays’ one million SME clients will have the opportunity to benefit from the partnership, with the new ability to take out insurance against individual invoices, rather than the whole book.
PeoplesBank Selects NYMBUS SmartMarketing™ & SmartOnboarding™ Platform
NYMBUS, a provider of the world’s most advanced financial services platform, today announced
Bankingblocks Teams up with WL Payments
Bankingblocks, an Amsterdam-based wholesale banking provider for fintech and payment companies, teams up with WL Payments to provide a true omni-channel, universal payment gateway.
New Digital Bank Vive Receives Banking Licence
- 5 years 7 months ago
- Retail Banking
New UK digital bank Vive has received a banking licence with restriction from the Bank of England. The new bank will be offering personal loans and a fixed-rate savings account and launching with with an Open Banking-based money management app. Vive is aiming to capture the underserved market of customers who struggle to access affordable credit.
Tencent and DST Global Pump $115 Million into Qonto
- 5 years 7 months ago
- Wholesale Banking, FinTech StartUps
French neobank Qonto has raised $115 million in Series C funding from Tencent and DST Global to double down on existing markets, develop new features to tailor its products to specific markets, and grow staff numbers from 200 to 300 during 2020. The online-only bank for SMEs, freelancers, and startups offers expense management, company card issuing and cash flow services to 65,000 accounts internationally. Earlier this month, the bank announced... more
Temenos helps new U.S. digital banks go live in 90 days with the most functionally rich and technologically advanced, front-to-back SaaS digital banking offering
- 5 years 7 months ago
- Banking
Temenos (SIX: TEMN), the banking software company, today launches a front-to-back banking software as a service designed uniquely for the US market – with pre-integrated U.S. banking products and services designed to deliver an outstanding customer experience. Leveraging the power of its Temenos Infinity and Temenos Transact banking products built on its modern cloud-native, cloud-agnostic and API-first technology, Temenos has developed the... more
Backbase Opens New APAC headquarters in Singapore
- 5 years 7 months ago
- Banking
Digital banking software provider, Backbase, has today announced the launch of its new regional headquarters in Singapore. Off the back of strong growth in the past few years, the regional centre in Singapore will strengthen its regional footprint to ensure greater proximity to clients and provide high-quality services and expertise to businesses in Asia Pacific (APAC).
TONIK Selects Finastra’s Core Banking Solution to Power Southeast Asia’s First Pure-play Licensed Digital Bank
- 5 years 7 months ago
- Core Banking
Finastra announced today that TONIK, the first licensed digital-only bank in Southeast Asia, has selected Fusion Essence in the cloud to power its end-to-end core banking capabilities. The move will support TONIK as it launches its retail deposit and customer loans services in the Philippines, giving it agility and the ability to scale quickly.
Rabobank Invests in Digital Mortgage Broker Trussle
- 5 years 7 months ago
- Retail Banking
Rabo Frontier Ventures (RFV), the strategic investment fund of Rabobank, has contributed to a £7.5 million funding round in online UK mortgage broker Trussle The Dutch bank was joined by existing investors Goldman Sachs Growth, Finch Capital and BBVA-backed Propel Venture in backing the firm, which last raised £13.6 million in Series B financing in May 2018. Trussle is one of a new breed of fintech startups that uses proprietary automation and a... more
CaixaBank applies artificial intelligence to augment employee training
- 5 years 7 months ago
- Banking
CaixaBank has started to use artificial intelligence to improve the acquisition of new skills among its employees. The financial institution, chaired by Jordi Gual and with chief executive officer Gonzalo Gortázar, has launched a new version of Virtaula, an online training platform for its entire workforce, incorporating artificial intelligence to identify each employee's areas of interest and recommend courses tailored to their individual... more
Open Banking Customer Numbers Surge
- 5 years 7 months ago
- Banking
Customer use of Open Banking in the UK has surpassed the one million customer mark for the first time, doubling in the past six months. The figures, generated by the Open Banking Implementation Entity (OBIE), only represent customers of the CMA9, the nine biggest current account providers in Great Britain and Northern Ireland. The doubling in customer numbers mirrors similar growth in third party service providers. Currently there are 204... more
TSB to Create 100 IT Jobs at New Digital Banking Centre in Edinburgh
- 5 years 7 months ago
- Banking
TSB is to create 100 jobs at a new IT centre to be set up in Edinburgh as part of its digital banking strategy to avoid a repeat of its system meltdown. The new staff in Edinburgh will be IT specialists, data engineers and analysts. The bank has suffered online banking problems under a new system introduced in 2018, with 200 million customer temporarily losing access to their accounts in April of that year.
