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


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.


Banks, Fintech news

October 19, 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.


Analytics, Banks, Global trends

October 13, 2018

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

Michael Gastauer, CEO of WB21 digital bank, is facing a lawsuit for selling $165 million worth of fraudulent microcap stocks.

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.”


Banks, Fintech news, Hotnews

October 11, 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.


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.


Banks, Blockchain, Marketing Report

September 27, 2018


UOB taps Personetics to gain deeper customer insights

United Overseas Bank has invested in Israel-based AI firm Personetics and plans to deploy its cognitive analytic tools to help customers make smarter banking decisions. (more…)

Banks, Fintech news, Global trends, Hotnews

July 20, 2018

Money management app Emma announces $600K seed round

By Emma,

London-based Emma Technologies LTD is announcing the closure of a funding round led by Kima Ventures, one of the first investor in Transferwise, and Aglaè Ventures, the early stage fund of the Groupe Arnault, investor in Netflix and Airbnb. (more…)

Banks, Deals, Fintech news

July 12, 2018

TokenPay Partners With Litecoin Foundation to Acquire Stake in Germany’s WEG Bank

TokenPay, a blockchain project that incorporates Bitcoin cryptographic technology with advanced security and privacy features, announced this week it partnered with the Litecoin Foundation to purchase a 9.9% stake in WEG Bank, which is based in Germany. According to TokenPay, the 9.9% stake was transacted in exchanged for a “broad and comprehensive marketing and technology service agreement that will benefit TokenPay and its related cryptocurrency and business operations. (more…)

Banks, Cryptocurrencies

July 12, 2018


Barclays opens tech campus in New Jersey

By Barclays,

Barclays today announces the opening of a new campus in Whippany, New Jersey. The state-of-the-art complex is a flagship site of Barclays’ global location strategy, which is designed to enhance the firm’s flexibility and resiliency through the establishment of regional campuses. (more…)

Banks, Fintech news, Global trends

July 11, 2018


Icici and Westpac team up for student remittances

By ICICI bank

ICICI Bank, India’s largest private sector bank by consolidated assets, today announced its partnership with ‘Westpac Banking Corporation’ (Westpac), one of the top banks in Australia, to offer Indian students a completely online payment solution through its ‘Money2World’ (M2W) platform for outward remittances. (more…)


July 11, 2018

Equifax partners with for Open Banking

Equifax, the consumer and business insights expert, has formed a strategic alliance with, a digital consent management and AISP accredited Open Banking platform which for the first time allows UK consumers and small businesses to manage the sharing of their financial information. (more…)

Banks, Fintech news, Global trends

July 9, 2018

Nordea to acquire online banking arm of Norwegian insurer Gjensidige

Nordea is to acquire the online banking arm of Norwegian insurer Gjensidige for EUR578 million in cash. (more…)

Banks, Deals

July 2, 2018


JPMorgan Chase begins nationwide roll-out of mobile-only bank

JPMorgan Chase is taking its mobile-only banking offshoot Finn nationwide following its debut in St. Louis in October. (more…)

Banks, Fintech news, Global trends, Hotnews

June 29, 2018

Nationwide launches £50m fintech fund

Nationwide logo web screen shot

UK building society Nationwide has joined the fintech venture fund party, putting aside £50 million to invest in promising startups. (more…)


June 27, 2018

Neufund CEO Zoe Adamovicz Provides Additional Insight into Blockchain based Equity Token Offering Platform

Last week, Neufund, a blockchain based platform for the issuance of security tokens, announced the very first  companies were preparing to tokenize their equity using their service. These “equity token offerings” or “ETOs”, as referenced by Neufund, were said to be compliant within German securities law – an important qualification. (more…)

Banks, Cryptocurrencies

June 27, 2018

KeyBank Acquires Small Business Lending Platform Bolstr

Digital lending platform for small businesses Bolstr has been acquired by KeyBank. Terms of the deal were not disclosed. (more…)

Banks, p2p/online lending

June 25, 2018


SoFi Launches Bank Like Service: SoFi Money

It is a truism that we need bank like services but we really don’t need banks. The portfolio of services offered by a traditional analog bank sometimes feel cobbled together. Difficult to manage and expensive to use. Current accounts is an excellent example. For some insidious reason, banks tend to charge consumers silly fees to lend out their money. Most consumers just accept it because that’s just the way it is. But innovative Fintechs are changing this paradigm. (more…)

Banks, Cashless, Fintech news, Global trends

June 21, 2018

KeyBank Acquires Digital Lending Platform For Small Businesses Bolstr

On Wednesday, KeyBank announced it has acquired digital lending platform for small businesses Bolstr. According to Key, the fintech software, which is expected to be implemented later this year, will enable the banking group to provide faster and easier access both to SBA loans and to traditional capital for business owners. The acquisition comes just after the OCC recently called on banks to issue more SME loans.  (more…)

Banks, Fintech news, Global trends

June 21, 2018


Crypto Fund AG Receives Swiss FINMA Approval

Crypto Finance has received regulatory approval from Swiss regulators. The Swiss Financial Market Supervisory Authority (FINMA) has reportedly given its seal of approval for the Crypto Fund AG – the first in Switzerland. (more…)

Banks, Cryptocurrencies

June 19, 2018

ING and AXA to build digital insurance platform

I"The initiative will also contribute to diversify our income"NG and AXA have unveiled an exclusive, long term, multi-country bancassurance partnership to provide insurance products and related services through a central digital insurance platform.


Banks, Insurance

June 19, 2018


Goldman Sachs rolls out cyber war games suite

Goldman Sachs is to provide its 8000+ developer community with a gamified cybersecurity training programme addressing attacker psychology, digital countermeasures and breach response. (more…)


June 9, 2018

6 Strategies for Building a Platform Bank

A Mckinsey study states that ‘manufacturing’, the primary industry for a bank’s financing and lending business now generates about 53% of industry revenues and 35% of profits with an ROE of 4.4%. On the contrary, ‘distribution’ produces 47% of revenues and 65% of profits with an ROE of 20%. This changing nature of banking balance sheets is a reflection of a clear shift in the banking business model. The traditional interest-based income of banks from lending and deposits is under pressure, and banks are looking to augment their revenue with new fee-based models. (more…)


June 4, 2018


TransferWise nets first big EU bank customer

France’s second-largest bank, BPCE Groupe, is to become the first in Europe to directly integrate with TransferWise to offer mobile money transfers to its 15 million customers. (more…)

Banks, Global trends, Hotnews, Remittances

June 4, 2018


ING backs FinCompare, the German comparison platform for SME financing

FinCompare, the German fintech startup that offers a comparison platform for SME financing, has closed €10 million in Series A funding. The round is led by ING Ventures, the venture capital arm of dutch bank ING. The company’s previous backers Speedinvest, and UNIQA Ventures also followed on. (more…)

Banks, Fintech news, Global trends

June 4, 2018

Mobile banking case study: RBC – farewell friction

Royal Bank of Canada (RBC) is moving with the times with a series of useful innovations and launches.

RBC has been proactive with its digitisation strategy. Instead of aiming to offer all things to all people it has instead chosen to focus on best use of technology in areas where there is a real friction point and a problem to be solved. By doing this it has added value to its customer base and seen impressive take up figures of its various initiatives.

Its most recent play was a mass scale artificial intelligence (AI) digital service, NOMI. This offers its customers insights about their financial habits and the ability to automate their savings. Its mobile offering meanwhile, has seen new iterations based on building its P2P capability and it is also in the throes of introducing a loyalty scheme and other partnerships to bolster its offering.


Banks, Fintech news, Global trends

June 4, 2018

UK challenger bank Starling seeks £80m funding

UK challenger bank Starling is looking to raise £80 million in its latest quest for funding – and it has ended its relationship with TransferWise(more…)

Banks, Mobile-first banks, Payment processors/providers/gateways

May 31, 2018


ABN Amro deploys financial coaches to turn silver surfers onto mobile banking

The silver surfers are on the rise, with 90% of ABN Amro’s customers over the age of 65 using internet banking, although just a quarter access their accounts via mobile phones. (more…)

Banks, Fintech news, Global trends

May 30, 2018


Goldman Sachs leads $250m Tradeshift funding round

Supply chain finance outfit Tradeshift has joined the unicorn club after closing a $250 million Series E funding round led by Goldman Sachs and Public Sector Pension Investment Board. (more…)

Banks, Fintech news, Global trends, Hotnews

May 30, 2018

Raiffeisen Bank selects Fico for digital account origination

By Fico

Raiffeisen Bank will use new customer onboarding technology from analytic software firm FICO to increase its digital lending capabilities in Romania. (more…)

Banks, Fintech news

May 30, 2018