Payments News

On The Web

nbsp;

Global

Meridian Set to Launch Its New Digital Bank Called Modusbank

“Meridian has been given the green-light by the Office of the Superintendent of Financial Institutions to move ahead with its new digital bank, Motusbank. The digital bank, set to open this spring, and will allow Canadians to access their bank accounts, investments, and mortgages online, while offering digital customer service from real people. Through Meridian, members […]
nbsp; nbsp;

Providers

U.K. Fintech Revolut Gets European Banking License Via Lithuania

“Revolut, the London-based financial technology startup, has obtained a European banking license as Brexit looms, with plans to launch checking and savings accounts as well as retail and business lending. The Bank of Lithuania, the eastern European country’s central bank, granted Revolut the regulatory approval that gives it permission to operate throughout the European Union.”
nbsp; nbsp;

Providers

Challenger bank N26 plans to expand to Brazil

“N26  has already announced that its next market would be the U.S. at some point during the first half of 2019. Brazil should launch after that. Right now, N26 is available in 24 European countries, including all of the Eurozone, the U.K., Denmark, Norway, Poland, and Sweden, Liechtenstein and Iceland.”
nbsp; nbsp;

Providers

Two New Next-gen Banks to Open in the US

“Two new banks are coming to the US: Piermont Bank in New York and Nexos National Bank, based in Stamford, Connecticut. “We appreciate, respect and honour family legacy” Piermont Bank is a “new generation” of commercial banking with a focus on helping clients build and grow business. The Piermont Bank’s team says that it aims […]
nbsp; nbsp;

Providers

Challenging the Challenger Banks

“Fintech start-ups have begun a phenomenon some call the “unbundling of financial services” through stand-alone products such as unsecured consumer loans, credit cards, checking and savings accounts, or personal financial management tools. A cohort of entities known as “challenger banks” or “neo-banks” have also entered the market in an attempt to take on digital banking […]
nbsp;

Deals

YouTrip, a Challenger Bank in Southeast Asia, Raises $25.5M for Expansion

“Singapore-based startup YouTrip thinks consumers of Southeast Asia deserve a taste of the challenger bank revolution happening in the U.S. and Europe, and it has raised $25.5 million in new funding to bring its app-and-debit-card service to more parts in the region. Challenger banks have sprung up in Europe in recent years. Unicorns Monzo, Revolut […]