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The Future Of Banking
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REPORT
?? NEWS HIGHLIGHT
The neobank’s total user base surges past 12.5 million, and its deposits climb to over €8 billion.
“At bunq, we use the latest tech to make our users’ lives easy”,?says Ali Niknam, founder and CEO of Bunq. “We’re thrilled to see so many of our users embrace Finn in their daily lives and can’t wait for them to have a chat with the all-new Finn.”
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??INSIGHTS
NOW, ON TO THE SUMMARY OF LAST WEEK'S?NEWS
?? DIGITAL BANKING HIGHLIGHTS
?? Revolut announced the appointment of Gianmaria Scocca as Head of Branches Europe.
?? Chime Agrees To CFPB Consent Order Over Refund Delays.
?? REGIONAL HIGHLIGHTS
领英推荐
UK ????
Engine, the technology Starling Bank was built on, has been busy - and quietly - launching banks around the world, from Australia to Romania. Engine sells its banking technology to start-ups to launch their own digital banks.
A1 Bank goes live with Avaloq’s core banking platform. The online bank’s implementation of the platform was carried out by Avaloq’s partner of two decades, Synpulse, which claims A1 Bank to be its “fastest ever implementation”.
HSBC adds savings tool to mobile app. They can then set up a regular transfer of funds into their savings account and track their progress.
Employees at FinTech giant Revolut to cash in with $500m share sale. Bosses at Revolut, Britain's biggest FinTech, are drawing up plans to allow employees to cash in with a sale of stock valued at hundreds of millions of pounds.
EUROPE ????
Banque Internationale à Luxembourg goes live with Temenos to modernize core banking and payments. The move gives BIL the latest banking capabilities from Temenos on a modern API-driven platform.
BKN301 Group unveils Baas Orchestrator platform. The cutting-edge platform seeks to empower businesses of all sizes, particularly FinTech companies and traditional banks.
Alpian secures CHF 76M Series C Funding to drive expansion and innovation in digital banking. The mandate offers access to curated investment opportunities and personalized recommendations, complementing its 'Managed by' discretionary mandate.
Cooperative Bank of Oromia and Mastercard have unveiled a groundbreaking collaboration with the launch of the Coopbank Prepaid Mastercard and the introduction of the Community Pass technology in Ethiopia.
Lydia Invests €100 Million to Become a Bank. The company, known for its money transfer app, is re-launching its banking account offers under a new name, Sumeria, and is introducing remunerated current account solutions. It aims to reach 5 million customers within three years.
Over the coming years, all bank cards in The Netherlands will be replaced by the new Debit Mastercard and Visa Debit cards. The goal is to enable payments in more places with the new cards, making them an upgrade from Mastercard and Visa.
Banco Santander and Iberpay have processed the first international instant transfers based on the European Payments Council’s One-Leg Out Instant Credit Transfer (OCT Inst) scheme.
USA ????
U.S. digital bank Chime is launching a product that will allow customers to access up to $500 of their wages before payday, the latest move by a financial technology company to enter the fast-growing "earned wage access" market.
LATAM
Colombia’s banking sector is facing a major overhaul as economic pressures lead to losses, stirring a flurry of potential mergers and acquisitions.
Brazilian neobank PicPay has announced the launch of an account for minors, connected to their parents' accounts. This new feature introduces the family hub, designed to facilitate family management and promote financial education.
Currently, Nu represents over 34% of the approximately 44 million active consents in the ???? ecosystem. In less than two years, Nubank reaches 15 million consents in Open Finance.
This week Nubank reached 1 million customers in Colombia ????.
Neobank n1co Announces Official Launch of Its App and Card in El Salvador. This launch is not only a historic event, but a testament to n1co's commitment to financial inclusion and the empowerment of the population, leading a revolutionary economic project that democratizes financial services in El Salvador.
ASIA
Grab’s Digibank Deposits Reach US$479M, Driven by Growth of Malaysia’s GXBank. This is a substantial growth from US$36 million in the same period last year and US$374 million in the prior quarter.
MOVERS AND SHAKERS
Tandem, the UK’s greener digital bank, has announced the appointment of Suavek Zajac, as Chief Technology Officer. Suavek joins Tandem with almost 25 years’ experience in tech, rising through the ranks from developer to enterprise architect to CTO.