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How the Banking Status Quo is Being Challenged in the Age of Fintech and APIs

 

It’s no secret that digital disruption is challenging the status quo in the banking world. The Digital Banking Asia Summit team spoke with Jeremy Berger, Chief Operating Officer at Arival Bank, a venture-backed digital banking startup for SMEs, to discuss new trends, innovating models, APIs and open banking. Jeremy is also the Portfolio Director of Life.SREDA, one of the first fintech only venture capital funds in Southeast Asia.

Additionally, Jeremy helped create (and now advises) Goldbell Investments, the corporate VC arm of the Goldbell Group, focusing on investments in fintech, mobility and automotive innovations. Prior to joining the venture capital and startup scene in Singapore, Jeremy worked for various fintech startups as well as one of the largest wealth management firms in the US.

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About, Banks, Hotnews, Influences FinTech, Open Source/ API, People of fintech

December 17, 2018

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The First Design Thinking Bank

The story of a London Design Awards winner

As a perfect way to celebrate the end of 2018, Arival Bank came home as winners yet again. This time at DRIVENxDESIGN London Design Awards 2018 – a prestigious award in the field of product, spaces and ‘digital&experience’ design. Since 2014, the Awards’ constant purpose is to “accelerate transformation, celebrate courage and growing demand for design.” The credit for yet another trophy (last month, Arival won Finovate 2018 in Hong Kong and FintechInn in Lithuania) goes to Vladimir Belyakov, Art Director of Arival Bank.

Vladimir’s prior collaboration with Life.SREDA Venture Capital, who would later create the first digital fintech bank for SMEs, started over three years ago. With an impressive portfolio of corporate identity in his back pocket as he developed the globally recognized Life.SREDA brand and Arival Bank thereafter, one of his best projects by far.

This is the story of Arival Bank from Vladimir’s perspective. A story about creativity, constant search for identity, user experience and true teamwork.

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Banks, Design, Influences FinTech, Interviews

December 11, 2018

Meet the world’s youngest digital bankers: Jeremy Berger (24) & Ollie Purdue (25)

At 24 years old, most people graduate college, consider different careers options and think about what they want to achieve in their professional lives.

But for every rule, there is an exception. Some 24-year-olds run successful businesses. And some even build their own banks.

We know at least two such exceptions: Ollie Purdue (25) and Jeremy Berger (24).

They have at least two things in common: both are young (obviously), and both have co-founded digital banking startups. And most importantly, both entrepreneurs are similar in their innovative and inclusive approach to banking.

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About, Banks, Influences FinTech, People of fintech, SME

November 27, 2018

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The world’s hottest digital banking startup takes home 2 international awards in one week, preparing to launch in Puerto...

 

This past year, Puerto Rico has taken its place among the world’s most attractive spots for business incorporation and development of cutting-edge products and services.

Puerto Rico’s governor, Ricardo Rosselló wants to see the island develop to meet the needs of the rapidly growing innovative tech & gig economy: “I would like to see Puerto Rico become a place where businesses serve customers and coordinate operations throughout the Americas, what I like to think of as a “human cloud,” where workers spread across the island handle tasks remotely for businesses around the world.”

Puerto Rico’s agenda aligns well with Arival Bank’s goals, which aims to provide banking services for innovative tech and crypto-related SMEs. It makes Arival Bank a perfect fit into the Puerto Rico ecosystem, creating its solutions on the basis of opportunities, generously provided by the U.S. territory.

Now, it will also become the home for two international fintech awards from different corners of the world, proving that Arival Bank is on the right track.

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Banks, Fintech news, Hotnews, news, SME

November 14, 2018

Life.SREDA presents accelerator BAASIS Labs powered by Mbanq

Life.SREDA Venture Capital presents ‘BAASIS Labs by Mbanq’, a startup accelerator powered by Mbanq, the global digital banking enabler and Banking-as-a-Service (BaaS) platform. The accelerator will be first announced during Fintech Festival in Singapore on 15th of November.

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Accelerators/Incubators/Labs, Banks

November 11, 2018

Digital banking challenger Monese launches business accounts

Monese recently raised $60m in its series B funding round

via CityAM

Digital banking app Monese announced its expansion into the world of business banking, as it launches accounts for young companies and entrepreneurs across the UK and Europe.

The accounts will be released to UK-registered businesses first, available in 11 languages in a bid to tap the UK’s growing multicultural industry base. The firm told City A.M. that accounts in Europe are expected to follow suit “very soon”.

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Fintech news, news

October 23, 2018

Nubank is now worth $4 billion after Tencent’s $180 million investment

nubank

Via TechCrunch

Nubank, the Brazilian financial services company, has raised $180 million from the Chinese internet giant, Tencent.

Tencent has long been interested in financial services startups, and with its $90 million direct investment and another $90 million investment in the secondary market, the company now has access to what is arguably the largest digital banking company in the world.

With the $4 billion valuation, it also makes Nubank one of the most highly valued privately held startups in Latin America.

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Banks, Fintech news

October 19, 2018

How the 22-year-old founders of Brex built a billion dollar business in less than 2 years

Brex co-founders Henrique Dubugras and Pedro Franceschi

Another successful business at 22: this fintech startup led by young Brazilian founders Henrique Dubugras and Pedro Franceschi, reached a $1.1 billion valuation.

Focusing on a huge problem entrepreneurs inevitably face – access to credit – Brex provides startups with corporate credit cards without a personal guarantee or deposit. The service offers a 10x higher credit limit than the market average and simple expense tracking for the whole team.

Public only since June 2018, the startup has already reached support of market giants such as PayPal founders Peter Thiel and Max Levchin and the former chief executive officer of Visa Carl Pascarella. 

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Credit/Debit/Prepaid cards, Fintech news, SME

October 16, 2018

Banking on Millennials: Balancing Branch Preferences And Digital Expectations

Via The Financial Brand 

Knowing what’s really important to consumers is critical to acquisition, retention and cross-selling in the banking industry. But Millennial stereotypes frequently fool financial marketers, muddling their marketing strategies with faulty assumptions. Turns out they love branches just as much as Gen X and Baby Boomers. And all generations share one thing in common: They expect more, particularly in digital channels.

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Analytics, Banks, Global trends

October 13, 2018

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“Fintech unicorn” WB21 faces securities fraud enforcement action from SEC

 

On October 2nd, the US Securities and Exchange Commission (SEC) revealed a lawsuit against Michael Gastauer and Roger Knox for “intentionally defrauding investors by secretly dumping large quantities of stock.”

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Banks, Fintech news

October 11, 2018

SEC Takes Unprecedented Enforcement Actions Against Two Cryptocurrency Firms

Article by Michael S. Dicke and Alexis I. Caloza

Over the past year, the U.S. Securities and Exchange Commission has ramped up its scrutiny of cryptocurrencies and other digital token offerings. On Sept. 11, 2018, the SEC escalated its crackdown when it announced a pair of settled enforcement actions against non-issuers participating in the offer and sale of cryptocurrencies it deemed unregistered securities. As with prior cryptocurrency cases, the SEC charged the defendants with offering or selling securities without filing a registration statement or having a valid exemption from registration. However, these cases mark the SEC’s first cryptocurrency enforcement actions against non-issuers for failing to register as broker-dealers and investment companies. As such, they highlight the SEC’s continuing efforts to bring the purchase and sale of cryptocurrencies within a regulated framework, including by targeting third parties who facilitate the purchase and sale of such assets.

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Fintech news, Global trends

October 4, 2018

Arival meets Revolut at Japan’s largest fintech summit

On September 26, Jeremy Berger presented Arival Bank at Fin/Sum2018, held in Tokyo. Arival was selected as one of the top 30 startups to pitch in front of executives from 500 Startups, SBI, MUFG, and other leading investment & financial institutions.

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Banks, SME

October 2, 2018

Arival Bank’s Jeremy Berger: we are eager to work with SMEs who are involved in STOs

On September 20, second day of Consensus Singapore, Jeremy Berger (Life.SREDA VC Portfolio Director, COO Arival Bank) gave a speech on the digital banking revolution at a meetup dedicated to the future of financial markets.

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Banks, Blockchain, Marketing Report

September 27, 2018