Tag: digital bank

March 1, 2024

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 […]

November 29, 2023

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 […]

September 7, 2023

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, […]

August 15, 2023

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 […]

July 25, 2023

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 […]

January 30, 2023

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. […]

October 19, 2022

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 […]

September 8, 2022

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 […]

July 1, 2022

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 […]

December 17, 2021

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 […]

November 22, 2021

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 […]

November 10, 2021

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 […]

September 27, 2021

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 […]

May 18, 2021

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 […]

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 […]

April 12, 2021

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 […]

March 18, 2021

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 […]

January 28, 2021

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. […]

September 9, 2019

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, […]

July 30, 2019

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 […]