On The Web

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Tech

Google’s Redesigned Digital Wallet Tries to Make Payments Feel More Personal

February 24 2021

• in
• Digital banking

“Alphabet Inc.’s Google is trying to draw more people to its payment app and keep them there longer with features such as a reward system, new financial management services and a format for listing payments that evokes text-message conversations. The Google Pay app will eventually offer Plex, mobile checking and savings accounts being introduced by Google […]

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Deals

South African Digital Bank TymeBank Lands $109M From UK and Philippines Investors

February 23 2021

• in
• Digital banking
• South Africa

“The onset of the pandemic has led to increased demand across customer income groups around the world for digital banking options. We’ve seen how digital banks like Zolve and Nubank have raised money in recent months to fill this need. This time, a startup from Africa has joined the party. TymeBank , a South African […]

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Tech

Barclays Adds Itemised Digital Receipts to Its Banking App in Partnership With Fintech Flux

February 5 2021

• in
• Digital banking

“Flux , the London fintech that has built a technology platform for banks and merchants to power itemised digital receipts and more, has seen its lengthy pilot with Barclays bear fruit. Announced formally today — but actually quietly rolled out a few months ago — Flux-powered digital receipts are now available as an opt-in for […]

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Deals

Indonesia’s Gojek purchases 22% stake in Indonesian digital bank Bank Jago

December 18 2020

• in
• Digital banking
• Indonesia

“Indonesian ride-hailing, food delivery and payments firm Gojek said on Friday in a statement it had purchased a 22% stake in Indonesian digital bank Bank Jago. The firm, which was valued at $10 billion in its last funding round, said the strategic investment will enable access to digital banking services through Gojek’s platform.”

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Global

Goldman Sachs’ Marcus Digital Bank Has Taken so Many Deposits in the UK That It’s Pausing Them

June 11 2020

• in
• Digital banking
• UK

“Goldman Sachs’ digital bank Marcus has paused applications for its easy-access savings account in the U.K. because of a surge in deposits during the country’s coronavirus lockdown. New British customers of the bank will no longer be able to apply for an online savings account with Marcus as of Wednesday. Goldman Sachs said the decision […]

On The Wires

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Tech

70% of Bank of America Clients Engaging Digitally for More of Their Financial Needs

February 3 2021

• in
• Digital banking

“Surge in digital engagement – Today, approximately 70% of Bank of America consumer client households and small business clients and 77% wealth management client households are digitally active. Bank of America clients deposited 160 million checks using the mobile banking app in 2020. Last year, 84% of deposits were made through the company’s automated channels (mobile, […]

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Tech

Swipe, Tap and Track: Chase Study Finds Consumers More Confident with Digital Banking Tools

December 15 2020

• in
• Digital banking

“Chase today released the findings of its national Digital Banking Attitudes Study—a survey of 1,500 consumers on their use and preferences with banking digitally. Consumers of all ages said that these tools save time and are a safe and easy way to manage their finances from anywhere.”

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Tech

DoorDash & Payfare Partner To Launch DasherDirect Visa Card & Mobile Banking App

December 14 2020

• in
• Digital banking

“DoorDash (NYSE: DASH ) and Payfare are pleased to announce the launch of the DasherDirect platform, a banking solution for DoorDash delivery drivers (Dashers) offering a Business Prepaid Visa Card and mobile banking app. This marks DoorDash’s first-ever financial platform for Dashers, providing them with exclusive new rewards and more flexibility and control over their earnings.”

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Tech

BankMobile Technologies, a Subsidiary of Customers Bank, and Megalith Financial Acquisition Corp. Agree to Combine to Bring a Digital Banking Platform to the Public Market Under the New Name BM Technologies

August 7 2020

• in
• Digital banking

“BankMobile Technologies, a subsidiary of Customers Bank, and one of America’s largest digital banking platforms, and Megalith Financial Acquisition Corp (“MFAC”), a special purpose acquisition company, announced today that they have entered into a definitive merger agreement.  Upon closing of the transaction, the combined company (the “Company”) will operate as BM Technologies Inc. and expects […]

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Deals

Neat, a FinTech Alternative to Banks, Raises USD11M to Fuel International Expansion

April 8 2020

• in
• Digital banking

“Neat, a Hong Kong-based FinTech company offering modern financial solutions to SMEs and startups, today announced raising a USD11 million Series A funding round. Pacific Century Group (PCG) led the round with participation from Visa, and MassMutual Ventures Southeast Asia, among others.  With the investment, Neat plans to continue its international expansion to support businesses that trade across borders.  Neat’s vision […]