US neobank Dave achieves profitability over Q4 2023
In Q4 2023, the LA-based neobank generated a GAAP net income of $200,000 and EBITDA of $10 million.
Challenger Bank
UK challenger OneBanx appoints Javed Anjum as new CEO
Anjum’s joins directly from the Glory Group, where he served as innovation programme director.
Banking Technology Magazine March 2024 issue out now
Cover story: CREATIVE THINKING – How a borefest could lead to the best ideas.
Monzo’s valuation tops $5bn with $430m Alphabet-led funding round
The round was led by Alphabet’s independent growth fund, CapitalG.
Barclays welcomes back Steve Weston as head of everyday money management
Weston left the UK bank in December 2015 to found the now-defunct Aussie challenger Volt Bank.
Cartoon: Incumbency advantage
A new cartoon illustrating the dominate position of incumbents in the financial services industry.
State of play: banking
Banks are facing a myriad of challenges, from transformative technological shifts to increasing competition.
UK challenger GB Bank appoints Mark Sismey-Durrant as new chair
Sismey-Durrant replaces Mike Kirsopp, who has left the company to return to an executive career.
Viva Republica’s Toss Bank announces Rhee Eun-mi as first female CEO
Rhee Eun-mi joins from DGB Daegu Bank, where she has been serving as CFO and managing director.
Raqami Islamic Digital Bank in Pakistan partners Codebase Technologies for Digibanc platform
Raqami was granted in-principle approval to operate digital financial services in the country last year.
Australia’s Judo Bank appoints Chris Bayliss as new CEO and managing director
Bayliss succeeds Joseph Healy, who is stepping down after a seven-year tenure as CEO.
Lithuania: A David slaying Goliath in the fintech arena
Lithuania is making its presence known in Europe’s burgeoning fintech scene.
UNO Digital Bank’s parent company secures $32.1m funding to fuel growth
UNOAsia will use the funding to strike profitability for UNO Digital Bank in the Philippines.
Turkish challenger Papara reportedly set to acquire digital wallet fintech SadaPay
The deal could be worth between $30 million and $50 million, according to media reports.
Mexican neobank Hey Banco’s split from Banregio due for 2025
The move, announced in 2020, was expedited by Hey Banco’s banking licence authorisation last July.
Canada’s EQ Bank taps Trulioo for ID verification solution
EQ Bank to leverage Trulioo’s “customised onboarding experiences” to stay ahead of industry practices.
Digital business bank Grasshopper partners Greenlite for AI-powered due diligence tech
Greenlite’s tech will enable the bank to streamline manual data aggregation and client risk assessments.
Puerto Rico’s Segura Bank taps Temenos to power new digital bank
The implementation builds on an agreement previously announced by the pair last year.
Revolut’s head of financial crime and fraud Aaron Elliott-Gross leaves to join Wise as product compliance lead
Elliott-Gross has been appointed as Wise’s global director of product compliance this month.
Banking Technology Magazine February 2024 issue out now
Cover story: PLANT LIFE – Talking flora and quantum computing.
Mexican banking heavyweight Banorte taps SAP Fioneer to launch digital bank Bineo
The app-based offering launched this week with account and lending services.
UK challenger Tandem appoints former JP Morgan exec Maria Khan as director of product and digital
The bank says Khan will work to develop and cultivate “green digital banking solutions”.
Dutch challenger Bunq prepares for UK relaunch as it reports first full year of profitability
Following a reported net profit of €53.1 million in 2023, Bunq has now applied for a UK EMI licence.
Swiss crypto neobank Sygnum lands $40m growth investment
Sygnum says it will use the capital to expand into new markets and further develop its product suite.
Société Générale reportedly seeks new buyer for neobank Shine
Les Echos reports the bank is approaching potential buyers for Shine four years after acquiring the company.
Demystify Podcast: Lettspay and Griffin – demystifying working with a challenger bank
Our guests on the Demystify podcast this week are Adam Moulson, Griffin’s COO, and Garrett Foxon, CEO of Lettspay.
Save the date: The Banking Tech Awards celebrates its 25th anniversary on 4 December
Nominations for the 25th annual Banking Tech Awards will open this spring.
How fintech is expanding the borders of financial inclusion
FinTech Futures takes a look at FS firms that are catering to vulnerable people or people with disabilities.
Singapore’s GXS Bank reportedly receives $109m investment from parent company Grab
The capital injection follows a $104m investment in July and a $56.8m investment in April last year.
Aeon Bank given the go-ahead to commence digital banking operations in Malaysia
The bank expects to roll out a Sharia-complaint banking app within the next six months.
ICYMI fintech funding round-up: KlariVis, Komunal, Maalexi, Cleva & CSI
A handy round-up of the recent funding endeavours of fintech companies across the globe.
Demystify Podcast: Griffin, a brand new UK bank, with David Jarvis, co-founder and CEO
Griffin’s CEO and co-founder, David Jarvis, demystifies the complex layers of the UK challenger bank’s proposition.
Nubank secures regulatory approval to operate as a financing company in Colombia
Nubank subsidiary Nu Colombia received the approval from the Financial Superintendence of Colombia (SFC).
Banking veteran Mary Usategui set to launch new venture BankMiami this year
Scheduled to arrive in Q2 2024, it will be the first de novo bank to be established in South Florida in 15 years.
OakNorth names Lord Adair Turner as new chairman
The bank plans to leverage Turner’s “extensive track record in financial services” to boost its growth plans.
2023: Top five fintech start-ups of the year
Here are five of the top fintech start-up stories from 2023.
Dutch neobank Bunq launches self-built GenAI platform for customers
Dubbed Finn, the platform allows users to ask advanced questions or seek advice about their finances.
Award wins signal success for Polish newcomer VeloBank
Poland-based challenger VeloBank won both the Team of the Year and Newcomer Banking Brand at Banking Tech Awards 2023.
Instant payments, BaaS and GenAI: A fintech industry review of 2023
FinTech Futures takes a look back at the key industry developments and trends to emerge over 2023.
US neobank Chime appoints Shara Chang as chief compliance officer
Chang brings 15 years of financial services, fintech and consumer protection experience to her new role.
