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#Banking License

TechCrunch

Challenger bank N26 raises $900 million at $9 billion valuation

Third Point Ventures and Coatue Management are leading today’s round. Dragoneer Investment Group and some of N26’s existing investors are also participating. “It gives us a lot of time over the next three to four years to line up for an IPO,” co-founder and CEO Valentin Stalf told me earlier today. N26 also plans to hire 1,000 people “as soon as possible.”
BUSINESS
Picture for Challenger bank N26 raises $900 million at $9 billion valuation
worldweeklynews.com

Banking solutions for global fintech markets

At the beginning of the autumn, financial market participants, traditional banks, mature digital financial service providers and neo-banks also began to expand their product range. JP Morgan thinks long term. For the first time in the business’s 222-year history, JP Morgan will expand its retail banking services outside the United...
ECONOMY
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TRENDING TOPICS
crypto-reporter.com

Asia Digital Bank Adopts Cosmos Tech to Build New Generation of Digital Banking System

Asia Digital Bank Ltd. (Labuan Investment Bank) (Registration No. LL16434), (licensed Labuan Investment Bank) (License No. 200134BI)(Asia DB), the first recipient of the Digital Banking license issued by Labuan Financial Services Authority in Malaysia and an innovative global digital asset operator, announced a strategic partnership with Bianjie, IRISnet’s Core team, and a Cosmos Core Contributor since genesis. ADB with Bianjie’s support plans to build new digital financial infrastructure that supports seamless integration of centralized and decentralized financial services.
ECONOMY
thefintechtimes.com

Yobota Steps Into the Banking-As-A-Service Market

The core banking provider Yobota has announced its move into the Banking-as-a-Service (BaaS) market through a new partnership with Chetwood Financial. BaaS describes a business model in which licensed banks grant companies access to their modular banking services, generally via application programming interfaces (APIs). This allows businesses to develop their own financial offerings, such as lending and payment services, on top of the BaaS provider’s regulated infrastructure.
BUSINESS
finovate.com

J’rrive! Arival Bank Launches As a Fully Licensed and Regulated Bank

Arival Bank, which won Best of Show in its FinovateAsia debut in 2018, is now a fully licensed and regulated bank. The company was granted its U.S.-based banking license in Puerto Rico and will leverage its “U.S.-based but internationally friendly” license to work with customers around the world. The license generally allows banks to offer full stack fiat banking services, upon receiving the necessary authorization from the local regulator.
CREDITS & LOANS
ffnews.com

Core banking provider Yobota enters Banking-as-a-Service market

Next-gen core banking provider Yobota has announced its move into the Banking-as-a-Service (BaaS) market through a new partnership with Chetwood Financial. BaaS describes a business model in which licensed banks grant companies access to their modular banking services, generally via application programming interfaces (APIs). This allows businesses to develop their own financial offerings, such as lending and payment services, on top of the BaaS provider’s regulated infrastructure.
BUSINESS
vnexplorer.net

Toss Bank halts loan services on authorities' debt limit

Toss Bank emplyees are seen at the headquarters in Seoul on Oct. 5. (Yonhap) Toss Bank, South Korea’s third internet-only bank, said on Thursday that it will suspend new loans until the end of this year, after financial authorities declined to increase the new bank’s loan limit. The banking arm...
WORLD
eMarketer

Are the benefits of a bank charter worth the headaches of getting one?

The news: US-based niche lender Oportun voluntarily pulled its application for a national bank charter from the Office of the Comptroller of the Currency (OCC). Trendspotting: The lender is the latest fintech in recent months to withdraw its application for a bank charter in the US:. Monzo dropped its application...
PERSONAL FINANCE
chainbulletin.com

SEBA Bank Enables Users to Earn Yields on Crypto

Switzerland-based SEBA Bank has launched a new product, SEBA Earn, which will enable users to generate yields on their cryptocurrency holdings, the financial institution said in a press release on 13 October. According to the announcement, the new SEBA product will allow institutions to generate income from Proof-of-Stake (PoS) protocols,...
CREDITS & LOANS
ffnews.com

Tord Topsholm Appointed New CEO at Northmill Bank

The neobank Northmill, which has the vision of improving people’s financial life, appoints Tord Topsholm as the new CEO. Tord has extensive experience of leading positions in the banking and technology sector, in Sweden as well as internationally. Among other things, he has been Head of Product and Marketing at the Telecom giant BT, Chief Operating Officer at Entercard and CEO at Catella Bank. Most recently, Tord was the CEO of Avida Finans and, under his leadership, it grew and scaled up in several countries. His main task at Northmill will be to continue launching new products that customers love and accelerate the growth journey.
BUSINESS

Latino-Focused Lender Oportun Scraps Bank Charter After CFPB Probe

Oportun, a specialist in low- to moderate-income lending, which services many Latinos, has withdrawn its application for a bank charter. The withdrawal was voluntary, and a report from the company says the CFPB was looking into claims that Oportun had violated consumer protection laws with its collection practices, especially those which centered around hardship treatments that the company gave during the pandemic.
PERSONAL FINANCE
bankingdive.com

LMI lender Oportun withdraws OCC banking charter application

Oportun, a low- to moderate-income (LMI) lending specialist with a heavy tilt toward Latinos, has voluntarily withdrawn its application for a bank charter with the Office of the Comptroller of the Currency (OCC), the company said Friday in a statement on its website. The company, in a March filing, revealed...
PERSONAL FINANCE
11fs.com

570. News: Fintech in flux? Google cancels Plex and Monzo withdraws US licence bid

Benjamin Ensor and Gwera Kiwana are joined by some great guests from Cornerstone Advisors, Financial News and CCG Catalyst to talk about some of the most interesting stories of the last 7 days, including: Google ditches its Plex checking account plan, Monzo withdraws U.S. banking license application, and 11:FS shares a boat with Bond. Tune in to find out more!
TECHNOLOGY
daballoti.com

Bank North expands its team ahead of its lending launch

The first truly regional bank of the 21st century, Bank North was founded in 1993. The Prudential Regulation Authority granted it a banking license (Authorized with Restrictions) in August. Neil Boycott will lead the credit risk team at Bank North, along with seven other new hires. SME lending is set to undergo a transformation thanks to the new bank. In Manchester, Bank North will open its first regional branch later this month, creating 100 new jobs.
BUSINESS
finextra.com

Northmill appoints new CEO

The neobank Northmill, which has the vision of improving people's financial life, appoints Tord Topsholm as the new CEO. Tord has extensive experience of leading positions in the banking and technology sector, in Sweden as well as internationally. Among other things, he has been Head of Product and Marketing at the Telecom giant BT, Chief Operating Officer at Entercard and CEO at Catella Bank. Most recently, Tord was the CEO of Avida Finans and, under his leadership, it grew and scaled up in several countries. His main task at Northmill will be to continue launching new products that customers love and accelerate the growth journey.
BUSINESS
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