OCBC to enter digital banking fray with Keppel, Vertex-backed Validus

November 5, 2019 Digital Banking

        Singapore’s second-largest bank OCBC is understood to be in firm talks with Keppel Corporation, peer-to-peer lender Validus Capital, and venture-capital fund Vertex Ventures to form a digital-bank consortium. The partners are understood to be gunning for one of the three wholesale digital banking licences offered by the Singapore regulator. OCBC has historically been active in the small-and-medium enterprise...Continue reading

Starling Bank steps up expansion with £30m funding round

October 24, 2019 Digital Banking

        A digital bank hoping to “change the face of banking” has secured £30m in a new funding round. London-based Starling Bank has secured the funding in a round led by Merian Chrysalis Investment Company Limited with an investment of £20m, with participation from existing investor JTC with a further £10m. The funding will support increased investment in Starling’s...Continue reading

Natwest launches UK’s first biometric fingerprint credit card

October 8, 2019 Digital Banking

        Natwest has become the first UK bank to launch a biometric credit card that allows contactless payments using a fingerprint for verification. The cards have entered into circulation today as part of a three-month trial with 150 customers. It comes after a successful trial of biometric debit cards. The biometric cards will offer contactless payments using fingerprint verification...Continue reading

Israel Approves New Digital Bank

September 25, 2019 Digital Banking

        The Bank of Israel is green lighting a new digital bank — the country’s first new financial institution in decades. The digital bank is led by entrepreneurs Marius Nacht of cyber security company Check Point Software Technologies, and Amnon Shashua of autonomous driving developer Mobileye NV. Set to launch in a year and a half, it will provide...Continue reading

Deutsche Bank Joins JPMorgan’s Blockchain Network

September 16, 2019 Blockchain

        Germany’s largest bank, Deutsche Bank, has joined JPMorgan’s blockchain-based network, the Interbank Information Network (IIN). Two years in operation Launched as a pilot in 2017, the JPMorgan-led blockchain initiative now has a network of 320 banks that have entered the platform to swap global payments data using the Ethereum network, the Financial Times reported on Sept. 15. Takis...Continue reading

Fintech Nomanini raises $4 million in funding round led by Standard Bank

August 28, 2019 Digital Banking

        Nomanini, a fintech platform for the informal retail ecosystem, has announced a $4 million funding round led by Standard Bank, Africa’s largest bank, and completed by Goodwell Investments, an Amsterdam-based investment firm focused on fintech and financial inclusion. Through the terms of the strategic investment, Standard Bank gains a stake in the company and the ability to use...Continue reading

TransferWise launches debit Mastercard in Australia & New Zealand

August 19, 2019 Uncategorized

        After endless requests from customers across Australia and New Zealand, it’s finally here. We’re excited to announce the launch of our debit card down under — your passport to cheaper spending overseas. Traditional bank cards weren’t built to travel. You’re charged foreign transaction fees every time you tap or swipe abroad — on top of the bad exchange...Continue reading

Standard Chartered Uses Blockchain for Supply Chain Finance

August 6, 2019 Blockchain

        Shanghai, China – Standard Chartered and Linklogis have recently completed their first joint deep-tier supply chain financing transaction for Digital Guangdong and its upstream suppliers. This milestone in the ongoing strategic collaboration between the two parties since signing a memorandum of understanding in February this year is the first time that the Linklogis platform has jointly delivered deep-tier...Continue reading

Digital Bank MoneyLion Raises $160 Million

July 24, 2019 Digital Banking

        MoneyLion has raised $160 million in funding. MoneyLion previously revealed $60 million of this amount but has since added $100 million as part of Series C funding round. MoneyLion is an entrant in the hot challenger bank marketplace. It provides its banking services via a partnership with Lincoln Savings Bank. The regulatory arbitrage is typical in the digital...Continue reading