TechCrunch

AUGUST 31, 2022

The San Mateo-based company works with fintech and vertical SaaS companies and offers banking, payments, cards and cryptocurrency products via easy-to-integrate APIs. Wise raises another $12 million to double down on embedded business banking. million seed and a $12 million Series A.

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TechCrunch

FEBRUARY 14, 2023

Banks aren’t letting fintechs have all the fun when it comes to using technology, providing an opening for startups to show them what they got. In the same vein as companies like Flourish Fi , Treasury Prime , Savana and Amount offering software for banks, ModernFi is providing a marketplace for banks to exchange deposits on demand.

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TechCrunch

MAY 2, 2023

When First Republic Bank was in its final moments, Silicon Valley didn’t convulse with shock or lather itself into a social media tizzy. Instead of panic, which rippled throughout the startup community in March when Silicon Valley Bank signaled trouble , there was widespread malaise. Ricciardi asked.

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TechCrunch

JULY 16, 2021

Long before the pandemic, the way in which banks were regulated was changing. Initiatives like Open Banking and the Revised Payment Services Directive (PSD2) were being proposed as a way to promote competition in the banking industry — allowing smaller challenger firms to break into a market that has long been dominated by corporate titans.

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TechCrunch

MAY 12, 2023

Or, the UK’s Financial Conduct Authority fining GT Bank £7.8m Or, Solaris , the German Bank-as-a-Service (BaaS) provider slapped with a restriction to not onboard any future clients without government approval. The opportunity for human error alone should be enough to strike fear into the heart of any bank manager.

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Smart Hustle Magazine

OCTOBER 15, 2021

Small businesses are only too familiar with the joylessness of dealing with traditional banks. According to a survey by BlueVine, less than 10% of small businesses feel that current banks meet their needs. The survey also says 70% of small businesses are looking to switch banks. They are constantly stung by high fees.

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AsiaTechDaily

DECEMBER 19, 2023

The European Investment Bank (EIB) Global has committed to investing up to $40 million in the private equity fund Amicus Capital Partners Fund II, focusing on supporting small and medium-sized enterprises (SMEs) across various sectors in India.

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TechCrunch

MARCH 16, 2023

The collapse of Silicon Valley Bank (SVB) last week sent ripples in startup ecosystems around the world, and it is emerging that millions of dollars held by African startups and venture capital funds at the bank were at stake, until the U.S. Most of our funds are in various other banks in US & around the world. Nala, a U.K.-based

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TechCrunch

MARCH 25, 2021

Meniga , the London fintech that provides digital banking technology to leading banks, has closed €10 million in additional funding. Meniga says the funding will be used for continued investment in R&D, and in particular further development of green banking products — building on its carbon spending insights product.

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TechCrunch

MAY 9, 2023

Different demographics often have different banking needs. So it’s no surprise that we have seen a flurry of financial technology startups offering banking services catered to certain populations based on factors such as age and ethnicity. Like many fintechs, Charlie is not a bank — its banking partner is Sutton Bank.

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TechCrunch

AUGUST 2, 2022

Malvern, Pennsylvania–based Savana, a company building financial software products for legacy banks, today announced that it raised $45 million. Prior to FIS, he launched Sanchez Computer Associates, a supplier of core banking systems. “Today’s consumers prefer digital-only banking. Image Credits: Savana.

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TechCrunch

JANUARY 19, 2023

That’s because they’re on the hook for interchange fees, or transaction fees a merchant’s bank must pay whenever a customer uses a card to make a purchase. to enable customers to make online payments using their bank accounts. Customers sign up with their bank account information and pay within the flow. .

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TechCrunch

OCTOBER 6, 2021

Copper Banking , a digital banking service aimed at teens, announced today it has raised a total of $13.3 Copper Banking CEO and co-founder Eddie Behringer believes the startup has a few competitive advantages. One of the first things we noticed is that banks have set the bar extremely low for pre-18 banking.”.

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TechCrunch

FEBRUARY 26, 2021

The murder of George Floyd last May ignited many things in the United States last year — one of which that was perhaps unexpected: a rise in the number of digital banks targeting the Black community. Some members of the Black community took their belief that big banks are not meeting their needs and turned them into startup concepts.

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TechCrunch

MARCH 24, 2021

In the absence of a banking system nearby or a disregard for one, the unbanked resort to these traditional systems because they work completely offline. The third is the lack of customer data since most don’t have an online banking presence. Slowly , an online banking presence is built for them. Image Credits: Bankly.

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TechCrunch

FEBRUARY 10, 2021

Northmill Bank , the Sweden-based challenger that has around 200,000 customers across three European countries, has raised around $30 million in new funding. Founded nearly 15 years ago and originally operating as a credit provider, in 2019 Northmill secured a full banking license, regulated by the Swedish Financial Supervisory Authority.

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TechCrunch

MARCH 8, 2021

Challenger banks continue to see huge infusions of cash from investors bullish on the opportunity for smaller and faster-moving tech-based banking startups to woo customers from their larger rivals. The bank is already profitable. Challenger bank Starling is out raising a new £200M funding round. billion) post-money.

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TechCrunch

MARCH 9, 2023

Some of Silicon Valley Bank’s customers are struggling to transfer funds out of their bank accounts, numerous sources tell TechCrunch. The bank also said that it was raising more capital, and investing into higher-yield products. Others on Twitter say that they’re unable to log into the online banking portal at large.

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TechCrunch

JUNE 6, 2022

Ivella , a Santa Monica-based startup, wants to build banking products for couples to take away some of these tensions. “The place that a lot of people fall short, just like a lot of fintech falls short, is that they don’t break the mold of what banking looks and feels like,” Lalji said.

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TechCrunch

FEBRUARY 24, 2022

And that means that Finary isn’t restricted to bank accounts. Finary wants to build a private bank from scratch with a different set of founding principles. Finary wants to build a private bank from scratch with a different set of founding principles. Aggregating data was just the first step. But that’s not all.

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AsiaTechDaily

FEBRUARY 21, 2024

Singapore-based UnoAsia, the parent company of Uno Digital Bank in the Philippines, has completed a pre-Series B funding round, securing $32.1 This funding injection will […] The post Singapore’s UnoAsia Boosts Uno Digital Bank in the Philippines with $32.1 million in investment.

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TechCrunch

APRIL 8, 2021

TrueLayer , the London startup that offers a developer-friendly platform for companies, including other fintechs, to utilise open banking, is disclosing $70 million in new funding. TrueLayer, the open banking API provider, discloses investment and partnership with Visa. “We The Series D round is led by new investor Addition.

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TechCrunch

MARCH 1, 2021

Known for its innovations in the payments sector, Square is now officially a bank. Nearly one year after receiving conditional approval , Square said Monday afternoon that its industrial bank, Square Financial Services, has begun operations. Lewis Goodwin had been tapped to serve as the bank’s CEO, and Brandon Soto its CFO.

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TechCrunch

MAY 11, 2023

Bank transfer or payment fraud amounted to $1.6 Vernier explained that banks and fintechs need to first have controls in place to mitigate risk. Banks and fintechs manually sample a tiny percentage of accounts to try and see if those controls are working. People in the U.S. reported $8.8 million versus 2.9 billion in 2022.

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TechCrunch

OCTOBER 15, 2021

Ximena Aleman is co-founder and chief business development officer at Prometeo , an open banking platform that serves Latin America. Fintech companies are increasingly collaborating with traditional players like banks, payment agencies, insurance providers and stock exchanges. Ximena Aleman. Contributor. Share on Twitter.

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TechCrunch

MARCH 10, 2021

Many things have accelerated in the world of fintech over the past year, not the least of which is the trend of digital banks aimed at specific communities in the U.S. Most recently, we covered the $5 million raise of one such bank — First Boulevard. First Boulevard raises $5M for its digital bank aimed at Black America.

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TechCrunch

SEPTEMBER 18, 2022

Before we get into the various news items from the past week, let’s talk about bank charters. For the unacquainted, according to Investopedia : “A chartered bank is a financial institution (FI) whose primary roles are to accept and safeguard monetary deposits from individuals and organizations, as well as to lend money out.

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TechCrunch

APRIL 26, 2022

Digital banking startup Cogni is joining the ranks of companies hopping on the crypto bandwagon. The company currently offers core banking services such as deposit accounts for free to its customers through a borrowed bank charter, like many other neobanks, including Chime. Cogni founder and CEO Archie Ravishankar.

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TechCrunch

MAY 3, 2022

-based Truist was the 10th largest bank, with $509 billion in assets. It was formed in 2019 as a merger between BB&T and SunTrust banks. Specifically, the San Francisco-based startup wants to drive bank customer engagement using prize-linked savings and casual gaming to motivate smart financial behaviors.

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TechCrunch

DECEMBER 26, 2022

Jakarta-based fintech Akulaku has raised $200 million from Mitsubishi UFJ Financial Group (MUFG), the largest bank in Japan. Earlier this year, Akulaku raised $100 million in funding from Siam Commercial Bank as part of another strategic investment.

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TechCrunch

FEBRUARY 14, 2022

Banked is a fintech startup that offers an alternative to card schemes. It’s now raised a $20 million Series A funding round led by Bank of America and Edenred Capital Partners. This means Banked has raised a total investment to date of more than $30 million. Back in 2020, the London-based fintech raised £2.35 ”

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AsiaTechDaily

JUNE 26, 2023

As part of the deal, MUFG’s subsidiary, MUFG Bank, will hold a 70.6% stake in Mandala Multifinance, while Adira Dinamika Multi Finance, a subsidiary of Bank Danamon, will own 10%. The banking group acknowledges the country’s substantial gross domestic product (GDP) and anticipates sustained growth in the future.

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TechCrunch

APRIL 27, 2021

Step , the digital banking service aimed at teens and endorsed by TikTok star Charli D’Amelio, announced this morning the close of a $100 million round of Series C funding after growing to more than 1.5 ” Mobile bank Current raises $220 million Series D, triples valuation to $2.2B. Image Credits: Step.

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TechCrunch

OCTOBER 19, 2021

Earlier this month, Citibanamex — Mexico’s second-largest bank — announced that it is building new APIs to allow fintech companies real-time access to information like its services and ATM locations. The move comes as Mexico’s fintech ecosystem flourishes so fiercely that traditional banks have to embrace them or risk lagging behind.

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AsiaTechDaily

JANUARY 19, 2023

million to fund its mission to accelerate financial inclusion and strengthen the neo-rural bank ecosystem in Indonesia, especially outside the Greater Jakarta area. “We are humbled by the overwhelming support from our investors, rural bank partners, and loyal users. Peter Jacobs as Commissioner effective January 1, 2023.

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TechCrunch

MAY 17, 2021

It’s the same situation in MENA, where only 40% of the population have access to a bank account. Digital banks have enormous potential in the region. However, a fter his experience using N26 while visiting a friend in Berlin in 2015, his eyes opened to the possibilities of digital banking in Egypt. Image Credits: Telda.

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TechCrunch

DECEMBER 2, 2020

Step , a mobile banking service aimed at teens , announced this morning it has raised $50 million in Series B funding after growing to over 500,000 users only two months after its official launch. Combining P2P and banking in one platform has proven so far to be fairly popular. To date, Step has raised over $75 million.

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peer-to-peer education media collaboration 106