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141

China’s fintech industry shows where the rest of the world is heading

By  for TechInAsia

“We need banking but we don’t need banks anymore,” said Bill Gates two decades ago, predicting the explosion in startups creating web and app-based financial services that we’re seeing right now. With nearly US$11 billion last year invested into so-called fintech startups across Asia, the sector is rivaling online shopping and ride-hailing among the hottest tech arenas. (more…)

About, China, Credit scoring, Fintech news, Insurance, Marketing Report, Mobile payments/banking, Mobile-first banks, p2p/online lending

January 21, 2017

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507

Xiaomi-Backed Online Bank Opening In China Soon

A Xiaomi Inc.-backed Chinese online bank is gearing up to launch soon following on the heels of establishing the bank. (more…)

China, Fintech news, Mobile payments/banking, Mobile-first banks

December 28, 2016

the-new-new-banks

6233

Alibaba, Baidu and Tencent and Their New Online Banks

By Deng Yuanyuan for CKGSB Knowledge

A new breed of online banks promoted by tech companies like Alibaba and Tencent is taking root. Will they be able to hold their own against traditional banks?  (more…)

China, Fintech news, Government activities, Mobile-first banks

December 26, 2016

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The 7 Hottest Fintech Startups and Solutions in Vietnam

By

Vietnam is a very Internet-connected country, and with the increasing penetration of smartphones there is a wealth of opportunity for online businesses, digital agencies and application developers. (more…)

About, AI / Machine Learning / Big Data, Cryptocurrencies, eWallets, Marketing Report, Mobile payments/banking, Mobile-first banks, PFM/PFP services, Remittances, Vietnam

December 22, 2016

17

209

Sogexia launches a new digital bank

By FinExtra

Sogexia launches a new 100% digital online bank.

  • Open online in less than 5 minutes
  • No conditions or hidden fees
  • In partnership with BNP Paribas for the sequestration of funds (more…)

Banks, Fintech news, Mobile-first banks

December 15, 2016

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128

Danish banking app Lunar Way raises €4.2M

By  for TechCrunch

Danish banking app Lunar Way is one of a plethora of startups in Europe attempting to update the retail banking experience with a mobile-first offering. However, rather than securing a banking license of its own — à la challenger banks such as Monzo, Atom, Starlingand Tandem in the U.K. — the Danish company is partnering with local banks in the countries it operates in, a strategy it believes has enabled it to get to market and innovate faster. (more…)

Banks, Deals, Fintech news, Mobile-first banks

December 12, 2016

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114

DST leads $80M round in Brazil’s Nubank to take on the big boys in financial services

By  for TechCrunch

As Brazil continues to reel as a result of its economic turmoil and its worst recession in 80 years, one of the country’s first financial tech startups has raised significant funding. Sao Paulo-based Nubank, whose first (and to-date only) product has been a “no-fee” credit card that is managed only through a mobile app, has raised $80 million in a Series D round of funding — money that the company says it would like to use to continue expanding its operations with more hiring and new products, David Vélez, the founder and CEO, said in an interview earlier. (more…)

Deals, Fintech news, Mobile-first banks

December 7, 2016

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218

Hong Kong neo bank Neat moves into beta testing

By Finextra

Neat provides a mobile current account targeting university students and young professionals. (more…)

Fintech news, Hong Kong, Mobile-first banks

December 2, 2016

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145

Mobile-only bank Pepper goes interactive to win over millennials

By Finextra

Israel’s Bank Leumi is hoping to win over millennials to its new mobile-only offshoot Pepper by teaming up with digital authoring platform Playbuzz to bring personalised, interactive content to its app. (more…)

Analytics, Fintech news, Mobile-first banks

December 1, 2016

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206

Commercial Bank of Dubai to launch digital-only bank

By Finextra

Commercial Bank of Dubai is to launch a digital-only bank, dubbed CBD NOW, targeting millennials and tech-savvy customers in the UAE. (more…)

Fintech news, Mobile-first banks

November 28, 2016

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185

Payment Cloud Technologies New bank.VISION Enables An Post to Bring Digital Banking to Customers Nationwide

By LTP

Payment Cloud Technologies (PCT), the London-based FinTech business, has today announced the official launch of its new digital banking platform bank.VISION. The platform enables organizations to deliver banking-grade financial services to their customers. An Post, Ireland’s largest postal service provider, is the first customer to go live with this new service, rolling out bank.VISION across all 1,100 An Post branches nationwide and improving the services available to its 1.7 million weekly customers. (more…)

Banks, Fintech news, Mobile-first banks

November 24, 2016

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140

Is there really any alternative to a mobile digital engagement strategy?

By Mitch Armstrong for Finextra

Mobile banking apps are used more than 7,610 times per minute according to research by BBA (more…)

Banks, Global trends, Marketing Report, Mobile payments/banking, Mobile-first banks

November 22, 2016

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198

Launch of the Latest Security Report on Bank Apps in APAC at Singapore FinTech Festival

By LTP

The rapid digitization of consumers and enterprises will increase the cost of data breaches to USD 2.1 trillion globally by 2019 from USD 500 billion in 2015 – affecting mainly large banks, retailers and federal agencies as per Forbes Inc. One of the recent cyberattacks that happened at one of Australia’s largest banks in 2016 was done by a malware attack using an Android mobile application. The virus presented a fake version of the login screen and intercepted the username or account number and password. The sophistication of this malware enabled it to intercept the two-factor authentication code sent by banks. (more…)

Fintech news, Marketing Report, Mobile payments/banking, Mobile-first banks, Security, Singapore

November 16, 2016

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293

Online remittance startup Toast raises $1.5m to be a bank for migrant workers

By  for TechInAsia

Online remittance startup Toast had a goal: it wanted to help migrant workers in Asia send money back home. This way, they wouldn’t have to deal with exorbitant remittance fees, queues at money transfer operator outlets, and long transfer times. (more…)

Deals, Fintech news, Hong Kong, Mobile-first banks, Remittances, Singapore

November 10, 2016

Banking App Loot Raises $2.5M in Funding

By FinSMEs

lootLoot, a London, UK-based provider of a banking app for millenials, raised $2.5m in funding.

Backers include SpeedInvest and Global Founders Capital.

The company is using the funds to expand in Europe. (more…)

Deals, Fintech news, Mobile-first banks

November 9, 2016

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181

London fintech startup Soldo launches multi-user spending account for families

By Steve O’Hear for TechCrunch

London fintech startup Soldo — founded by tech veteran Carlo Gualandri who previously helped create Italy’s first online bank — is launching a multi-user spending account. The cloud-based service, which has been 18 months in the making and is currently available in the U.K. and Italy, is designed to enable and control the flow of money inside organisations with multiple users. (more…)

Fintech news, Mobile payments/banking, Mobile-first banks, PFM/PFP services

November 8, 2016

AinFin Raises £200K in Seed Funding

By FinSMEs

AinFin, a London, UK-based banking service operating in challenging markets, raises £200k in seed funding. (more…)

Deals, Fintech news, Mobile payments/banking, Mobile-first banks

November 3, 2016

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188

The day I realized Fintech was becoming just the same as everything else

By Brett King, Moven, for Finextra

I’ve been in Fintech since before we called it Fintech. Some would say that Fintech has been around for decades, as soon as Bank of America deployed ERMA (Electronic Recording Method of Accounting) in the 1950s, but even though the term was commonplace by 2009 amongst practitioners, the term Fintech got very little industry use until 2013, and then in 2014 use of the term skyrocketed. In 2009 Finextra itself just featured 30 articles with references to Fintech, but by 2014 that number was close to 250, and 2016 has already seen 1200 articles to-date. 

(more…)

Fintech news, Hotnews, Mobile-first banks

October 26, 2016

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214

Retail Banking Simmers with Technological Promise

By Jay Patani for Finextra

Since the financial crisis, the major UK retail banks have primarily been keeping their head down, averting or avoiding scandals and dealing with changing government regulations or mandates. (more…)

Banks, Global trends, Mobile-first banks

October 25, 2016

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171

London-Based Mobile Bank Monzo Raises £4.8M in Funding

By FinSMEs

The round, which brought the company’s valuation to £50m and £12.8m in total funding to date, was led by existing investor Passion Capital. (more…)

Deals, Fintech news, Mobile-first banks

October 22, 2016

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Kashmi launches mobile bank to counter ‘floundering’ attempts by financial firms to attract millennials and go digital

By  for TheDrum

Kashmi, a social payments app based in Singapore, has expanded its remit by launching a ‘360 degree digital’ banking service, aimed at younger people in south-east Asia. (more…)

Fintech news, InspirAsia, Mobile-first banks, Singapore

October 20, 2016

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317

TravelBank launches expense account app that pays you for underspending

By   for TechCrunch

Employees waste tons of money through expense accounts because there’s no incentive to book flights early, stay at a modest hotel, or dine on the cheap. But a new startup called TravelBank can predict what employees should be spending on trips, help them file their expenses, and even give them cash rewards if they come in under budget. (more…)

Mobile-first banks, PFM/PFP services, SME

October 20, 2016

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281

We Live in a Mobile-First World

By Elena Mesropyan for LTP

For a quarter of users, it’s a mobile-only world

A recent study by Google called How People Use Their Devices suggests that more than 1 in 4 users only use a smartphone in an average day – almost twice as many as those who only use a computer. Moreover, the study indicated that smartphones take up the most usage time on an average day – those who use a smartphone spend almost three hours per day on it. (more…)

Analytics, Global trends, Mobile payments/banking, Mobile-first banks

October 15, 2016

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292

Why I’m convinced that smartphone-only banks like Monzo are the future

By Matthew Hughes for The Next Web

Over the past few years, a seismic shift has taken place in the world of retail banking. Traditional banks are now facing stiff competition from smartphone-only upstarts. (more…)

Mobile-first banks

October 11, 2016

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In the Kitchen of FinTech

By Sofia for LTP

One of the core differences between the FinTech world and traditional financial institutions lies in the underlying technology and the level of freedom to build it. Unlike traditional banks, FinTech startups are free from legacy systems and operate mostly in the area of law that allows them to be relatively free. Hence, they can build their services on experimental algorithms and pivot them as they please to find the best solution. (more…)

Banks, Mobile-first banks, p2p/online lending

October 10, 2016

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The simple reason you should move your money to an online bank

By Ismat Sarah Mangla for Quartz

Would you pay a 23% fee to access your own money? That’s how much, on average, Americans are forking over when they withdraw $20 from an ATM that doesn’t belong to their bank. (more…)

Banks, Global trends, Mobile-first banks

October 8, 2016

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193

Fidor to provide digital backbone for ADIB

By Finextra

Abu Dhabi Islamic Bank (ADIB), a top-tier financial services institution, has partnered with Fidor Bank to launch the region’s first ‘community based digital bank’. (more…)

Fintech news, Hotnews, Mobile-first banks

October 4, 2016

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Inside Paytm’s mini-bank and its plans to go where banks don’t

By Meghna Rao for TechInAsia

Across the street from Paytm’s office in Noida is a man selling chai. The company’s signature blue and white sticker is pasted on the back wall of his store. I scan the accompanying QR code and transfer INR20 (US$0.30) from my wallet into his for a steaming hot cup. (more…)

India, InspirAsia, Mobile payments/banking, Mobile-first banks, POS/mPOS and online acquiring

September 30, 2016

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257

JPM Hires Moven Co-Founder Alex Sion as Banking, Fintech Converge

By Penny Crosman for American Banker

JPMorgan Chase has hired Alex Sion, co-founder of the mobile-only neobank Moven, to lead its mobile apps. The move is an example of how banks are looking to fintech entrepreneurs to bring innovation in, and it illustrates the emphasis and importance banks are putting on their mobile channels. It’s also the latest round of musical chairs for big banks’ digital channel executives. (more…)

Fintech news, Mobile-first banks

September 29, 2016

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491

Atom Bank is raising £100 million and getting into mortgages

By Oscar Williams-Grut for Business Insider

App-only challenger bank is raising £100 million ($129.6 million) from its shareholders to break into mortgages, according to Sky News.

(more…)

Banks, Deals, Fintech news, Mobile-first banks

September 22, 2016