Tag: digital bank

Capital and Risk, Operational

The history of banking technology vs the history of banking experience

March 1, 2024

Via: FinTech Futures

Back in 1957, 1TB of storage capacity would have cost $9.2 billion, while 1TB of memory would have cost $411 trillion. Today, the same storage and memory capacity costs just $14 and $2,100, respectively. Banking has evolved in lockstep. We […]


JPMorgan pushes up UK digital bank’s break-even timeline

November 29, 2023

Via: Banking Dive

JPMorgan Chase now expects its U.K. consumer operation to break even in 12 to 18 months, the bank’s president, Daniel Pinto, told observers at a conference Tuesday, according to Reuters. That’s at least two years ahead of a previously referenced […]

Capital and Risk, Operational

Monzo announces new feature to help protect customers against impersonation scams

September 7, 2023

Via: FinTech Futures

An impersonation scam is when a scammer makes contact with an account holder, typically by calling them, and pretends to be from a trusted organisation to manipulate them into transferring them money. As the rise of digital banking services continues, […]

Activity, Retail Banking

Citizens Bank of Edmond launches digital bank for military recruits

August 15, 2023

Via: Banking Dive

Citizens Bank of Edmond CEO Jill Castilla’s latest venture combines two key elements of her professional life: financial services and the military. For the past several years, the bank executive and military veteran has been building a national digital bank […]

Activity, Retail Banking

JP Morgan CEO confirms German expansion for Chase digital bank

July 25, 2023

Via: FinTech Futures

Following earlier speculation that it might pursue the German market, Dimon finally confirmed the move with regional newspaper Handelsblatt on Friday, sharing that the US banking giant has “ambitions plans” for its arrival. Chase’s European debut has so far only […]

Activity, Corporate Banking

Dubai Investments buys 9% stake in UK challenger Monument Bank

January 30, 2023

Via: FinTech Futures

Following the investment, Monument, which is regulated by the Financial Conduct Authority (FCA) and Prudential Regulation Authority (PRA), says it is looking to expand its product suite and services to cater to the mass-affluent both in the UK and globally. […]


Goldman Sachs plots reorganisation, reveals change of plans for Marcus

October 19, 2022

Via: FinTech Futures

Marcus has $110 billion worth of digital deposits and approximately 13 million customers, but Goldman’s consumer business could make a loss of around $1.2 billion this year. As part of a broader reorganisation, Goldman will look to slim down its […]

Activity, Retail Banking

Swiss digital bank Alpian partners Visa for new debit card

September 8, 2022

Via: FinTech Futures

The digital bank’s debit card offering comes with a multi-currency account (CHF, EUR, GBP and USD) with real-time foreign exchange features and no handling fees, Alpian claims. With the Visa partnership, Alpian’s debit card will be accepted in over 200 […]

Channels, News

Daxsen Group to launch new digital bank in Ecuador

July 1, 2022

Via: FinTech Futures

With Daxsen Bank, the firm intends to reduce operational and transactional costs to “revolutionise” the country’s banking sector. “This is intended to be a digital bank that will open accounts at no cost and improve banking operations through the management […]

Activity, Corporate Banking

Russian digital bank Tinkoff taps Finastra for Asian expansion

December 17, 2021

Via: FinTech Futures

Tinkoff, which currently serves more than 18.5 million customers, plans to open a subsidiary bank in the Philippines as part of its wider Asian expansion strategy. Reports that the firm was seeking a banking licence in the country came to […]

Activity, Retail Banking

UBS nominates ex-Morgan Stanley No. 2 Kelleher as next chair

November 22, 2021

Via: Banking Dive

UBS on Saturday nominated former Morgan Stanley President Colm Kelleher to become its next chairman — a move that could be solidified through a vote at the Swiss bank’s annual shareholder meeting April 6. The bank — the world’s largest […]


Russian neobank Tinkoff appoints ex-Morgan Stanley exec as co-CEO

November 10, 2021

Via: FinTech Futures

Both Hughes and Fedorov already hold senior positions at the firm, with Fedorov joining Hughes as co-CEO from his position on the company’s board of directors. Tinkoff is the largest digital bank in its home country, and operates a range […]

Capital and Risk, Operational

Western Union taps Salt Edge for European digital bank pilot

September 27, 2021

Via: FinTech Futures

The partnership will see Western Union integrate Salt Edge’s PSD2 Compliance Solution as it looks to enter the digital banking space in Europe. The pilot service falls under the remit of the EU’s open banking PSD2 Directive, which aims to […]

Activity, Retail Banking

Goldman Sachs to plans UK app launch, robo-adviser for 2022

May 18, 2021

Via: FinTech Futures

British customers will be able to access their Marcus accounts through an app on iOS devices before the end of May. Whilst Android will have to wait until June. McDaid revealed to Reuters that Marcus plans to offer robo-advisory service […]

Activity, Investment Banking

Goldman Sachs invests $69 million in British digital bank Starling

April 19, 2021


LONDON — British digital bank Starling has raised £50 million ($69 million) in funding from Goldman Sachs’ growth equity investment arm. The fresh cash comes on top of a £272 million investment round Starling announced last month that valued the […]


France’s central bank warns fintech industry of rules when using term “neobank”

April 12, 2021

Via: Banking Technology

The Prudential Control and Resolution Authority (ACPR), which operates under the Banque de France, issued a statement on 6 April. It stated that “the term ‘neobank’ must necessarily qualify a credit institution”. The regulator is wary firms are “mislead[ing] users […]

Activity, Retail Banking

Digital bank for immigrants opens meet-up space in Miami

March 18, 2021

Via: Banking Dive

Challenger bank Majority opened a meet-up center in Miami’s Little Havana on Thursday, as the startup continues its push to provide bundled digital banking, wire transfer and international calling services to the U.S.’s immigrant communities. “We built it to be […]

Retail Banking

JPMorgan acknowledges UK digital bank rollout plan

January 28, 2021

Via: Banking Dive

Launching a digital bank overseas represents a path to expansion for a bank that is limited in that regard domestically. Regulations prohibit JPMorgan from acquiring additional U.S. retail banks because it already holds more than 10% of the country’s deposits. […]


Three Ways to Break the Mold of Digital Banking

September 9, 2019

Via: Bank Director

Community banks should look for ways to make their digital banking experience stand out for consumers in the face of increasingly commoditized offerings. Most community banks in the United States are focusing on enhancing the digital experience for their customers, […]


Microsoft and Publicis Sapient build digital trade finance bank in six months

July 30, 2019

Via: Finextra

Nigel Vaz, Global CEO of Publicis Sapient commented: “Anglo-Gulf Trade Bank understood the opportunity for a bank of the future to innovate its business model in parallel with building a digitally enabled, client-centric enterprise. As a new type of transformation […]