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557

Arival Bank Nets $2.3 Million in Equity Crowdfunding Campaign

via Finovate blog

FinovateAsia 2018 Best of Show winner Arival Bank announced this week that it raised $2.3 million (£1.87 million) in a pre-Series A, equity crowdfunding campaign. The Singapore-based fintech bank for businesses and entrepreneurs soared past its fundraising target of $864,500 (£700,000), and now boasts a pre-money valuation of more than $14.8 million (£12 million). (more…)

Banks, Crowdfunding/investing, Hotnews, SME

September 12, 2019

436

Neobank Arival surpasses crowdfund target

via FinTech Futures

Singapore-based neobank, Arival, has surpassed its £700,000 crowdfunding target on Crowdcube following its announcement in June to become the first licensed digital bank in the US this year.

The three-year-old bank has raised £1,214,136 so far, before it closes the round at midnight on 6 September. Currently Arival has a pre-money valuation of £12,012,061.

Targeted users for the neobank are those rejected by other banks, including E-Residency businesses, expats and refugees, cryptocurrency and blockchain-related businesses, politically exposed persons, and digital influencers. (more…)

Banks, Crowdfunding/investing, Hotnews, InspirAsia, Mobile-first banks, Singapore

September 2, 2019

868

Mbanq backs Arival Bank by acquiring shares

via FinTech Futures 

Mbanq, an accredited investor, has backed Arival Bank by acquiring shares, as reported by Medium.

Mbanq provides digital core technology and banking-as-a-service (BaaS) and Arival Bank chose it for its digital core banking back in July 2018. (more…)

Banks, Deals, Hotnews

July 26, 2019

1941

Crypto Friendly Digital Bank Arival Accepting Investment Reservations on SeedInvest for Upcoming Crowdfunding Round

via Crowdfund Insider

Digital challenger bank Arival is now accepting reservations for preferred stock on SeedInvest.

Arival will be a crypto-friendly bank – unlike most traditional banks in the United States which tend to be crypto-averse.

The bank was founded on the notion that banks in many places around the world are closing accounts of crypto-related businesses as they are fearful of any collateral ramifications to holding these types of accounts. Arival says they surveyed “hundreds” of Fintech and blockchain startups in their network and 90% indicated they have encountered problems in some capacity.

But it is not only the crypto-sector that Arival wants to service. The digital-only bank wants to provide banking services to all SMEs and GIG economy companies seeking an alternative to the high cost, low service, experience of traditional brick and mortar banks. (more…)

Banks, Crowdfunding/investing, Cryptocurrencies, Hotnews

June 12, 2019

1661

Apple Card will make credit card fraud a lot more difficult

via TechCrunch

Apple’s new credit card has a curious security feature that will make it much more difficult to carry out credit card fraud.

The aptly named Apple Card is a new credit card, built into your iPhone Wallet app, which the company says will help customers live a “healthier” financial lifestyle. The card is designed to replace your traditional credit card and give you perks, such as daily cash. Chief among the benefits is a range of security and privacy features, which Apple says — unlike traditional credit card providers — the company doesn’t know where a customer shopped, what they bought or how much they paid. (more…)

Credit/Debit/Prepaid cards, Hotnews, Security

March 25, 2019

1716

From Book to Bank: How a Fintech Firm Found Its Calling

via Knowledge@Wharton

In the rapidly evolving world of fintechs, cutting-edge intermediaries that seek to disrupt traditional banking or cater to underserved niches, success depends on rigorous customer screening and proactive regulatory compliance, according to Vladislav (Slava) Solodkiy, cofounder and CEO of Puerto Rico-based Arival Bank. Solodkiy is also managing partner at Life.SREDA, a Singapore-based venture capital firm that over the past six years has invested in more than 20 fintech startups and successfully exited from nine. He has documented his journey from a fintech investor to a founder of a digital bank in his book, The First Fintech Bank’s Arival – From Book to Bank in 12 Months.

Arival claims to be the first digital fintech bank to be focused on small businesses, the so-called “gig economy” of entrepreneurs, freelancers and startups, and small and medium-sized business enterprises that use crypto currencies to receive and pay money. While it may be difficult to identify the ‘bad guys’ among those customers — who could be money launderers or others with dubious backgrounds — prompt reporting of problem cases to regulators and remedial action to prevent future occurrences could save fintechs from hefty fines, according to Solodkiy and Arival’s chief operating officer, Jeremy Berger. Arival is now in the process of securing a federal banking license in the U.S. and exploring similar licenses in Europe and Asia. Solodkiy and Berger shared insights into their strategies for Arival Bank and the road ahead for fintechs in an interview with Knowledge@Wharton. (more…)

About, Banks, Cryptocurrencies, Hotnews, Open Source/ API, People of fintech

December 20, 2018

6282

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.

(more…)

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

December 17, 2018

9307

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.

(more…)

Banks, Fintech news, Hotnews, news, SME

November 14, 2018

4701

MAS to ramp up measures to fight money laundering, terrorism financing

By Annabeth Leow for Business Times

REGULATORS in Singapore are looking to ramp up targeted measures against financial crime, including tapping data analytics and boosting information sharing with financial institutions, said an official from the Monetary Authority of Singapore (MAS) on Wednesday morning. (more…)

Government activities, Hotnews

July 18, 2018

3993

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

2030

Fintech friends: Monzo partners with TransferWise for international payments

By Steve O’Hear for techCrunch,

“So what’s going on here then?” I ask. “Two good friends just got even better [friends],” replies TransferWise co-founder Kristo Käärmann laughing, while Monzoco-founder Tom Blomfield, who is also on the video call, smiles approvingly. “Sorry for spoiling your news,” I tell the pair, who I’m interviewing ahead of an announcement today that the two companies are working together. (more…)

Fintech news, Global trends, Hotnews

June 25, 2018

Money20/20 Europe: key takeaways

Martin Whybrow sought out the trends and key issues when the Money20/20 Europe circus rolled into Amsterdam this week. (more…)

Government activities, Hotnews

June 9, 2018

1132

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

1371

N26 now has 1 million customers

You don’t sign up to a bank account every day. And yet, German startup N26 has managed to attract 1 million clients across Europe. They generate €1 billion in transaction volume every month ($1.17 billion). (more…)

Hotnews

June 4, 2018

1202

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

1284

Ant Financial signs third Chinese bank technology deal

Ant Financial, the financial services spin-off of e-commerce giant Alibaba, has added another string to its bow, signing its third deal this month as a strategic technology supplier to the Chinese banking industry. (more…)

Global trends, Hotnews

May 30, 2018

1609

Rakuten invests in UK payments group Azimo

Move reflects fast-growing market for challengers to traditional way of sending money

(more…)

Fintech news, Global trends, Hotnews

May 29, 2018

1024

Tandem reaches 100,000 clients, signs for Form3 paytech

UK-based challenger Tandem says “100,000 Brits are now using the bank to spend, save, and manage their money”. (more…)

Banks, Hotnews

May 29, 2018

1351

WeInvest Raises $12.3 Million for its WealthTech Platform

By Julie Munh for Finovate

B2B digital wealth management solutions provider WeInvest has taken in an investment of its own today. The Singapore-based company just closed on $12.3 million in Series A funding. (more…)

Fintech news, Global trends, Hotnews

May 28, 2018

1470

Adyen confirms plans for IPO

Payments processor Adyen is chasing a $9 billion valuation after confirming its intent to sell 15% of its shares in an IPO on Euronext Amsterdam. (more…)

Global trends, Hotnews, Payment processors/providers/gateways

May 25, 2018

1706

Equifax works with HSBC on Open Banking credit applications

By Equifax,

HSBC UK has created the first live use case of open banking for credit applications using the InterConnect platform from Equifax, the consumer and business insights expert. (more…)

Banks, Credit scoring, Hotnews

May 18, 2018

1392

Revolut expands payments feature to friends nearby

By Revolut

Sending and requesting money is one of the most popular features among Revolut users, and we’ve just made it even better. (more…)

eWallets, Fintech news, Global trends, Hotnews, Mobile-first banks

May 16, 2018

1325

Morgan Stanley to offer market insights on Alexa devices

 

Morgan Stanley is to offer voice-powered market insights and investment ideas available to clients using all Alexa-enabled devices.

Listeners will be able to tune in to timely insights drawn from Morgan Stanley’s Equity and Fixed Income Research as well as podcasts and other original content.  (more…)

Banks, Fintech news, Global trends, Hotnews

May 16, 2018

Prosper Announces First Quarter of 2018 Results: Loan Originations Up 27% Year-over-Year & More Than $2 Billion of Co-Sponsored...

Prosper, a peer-to-peer lending platform connecting borrowers and investors, reported earlier this week its financial results for the first quarter of 2018. The online lender revealed that loan originations increased 27% year-over-year to $744 million, driven by strong demand for the company’s personal loan product and stable funding. (more…)

Fintech news, Global trends, Hotnews

May 16, 2018

1021

Circle raises $110 million (or 13,300 BTC)

By Romain Dillet for TechCrunch;

Cryptocurrency startup Circle has raised a $110 million funding round, which values the company near $3 billion. Cryptocurrency mining company Bitmain is leading the round. (more…)

Blockchain, Cryptocurrencies, Hotnews

May 16, 2018

952

Robinhood raises $363m for $5.6bn valuation

Fee-free stock trading app Robinhood has seen its value soar to $5.6 billion after closing a $363 million Series D funding round led by DST Global. (more…)

Global trends, Hotnews

May 11, 2018

917

Visa and PayPal extend collaboration pact to Canada

By Visa

Visa (NYSE: V) and PayPal (Nasdaq: PYPL) today announced an extension of their strategic partnership to Canada that will see them work collaboratively to accelerate the adoption of secure, reliable and convenient digital and mobile payments for consumers and merchants in Canada. (more…)

Hotnews

May 11, 2018

Credorax launches innovation lab to take on transaction fraud

By Credorax

Credorax, a leading technology company turned licensed European bank, today unveiled the Credorax Innovation Lab. Designed to solve online payment issues faced by merchants, the Innovation Lab works with partners to develop solutions which utilise the power of AI, data science, payment fraud prevention techniques and technologies. (more…)

Hotnews, Payment processors/providers/gateways

May 10, 2018

1188

Open Banking Nigeria partners Open Vecto on API standards

By Open Banking Nigeria

As part of a global alliance, Open Banking Nigeria has entered a strategic partnership with Open Vector to jointly develop the Open Banking Nigeria API standards and for Open Vector to assist in shaping and delivering this initiative. (more…)

Global trends, Hotnews

May 3, 2018

1189

Square to buy website builder Weebly

By Square

Square, Inc. (NYSE: SQ) has entered into a definitive agreement to acquire Weebly. Square will pay a mix of cash and stock of approximately $365 million, which includes Square restricted stock units for Weebly’s founders and employees that will vest over four years subsequent to closing. (more…)

Deals, Hotnews

April 29, 2018