REPORT
India's neobanking space in brief following Ey India's latest FinTech report:
👉 Download full India's latest FinTech report here.
Get the most important Asia-Pacific news as they happen on my recently launched Connecting the dots in FinTech APAC LinkedIn Channel
👀 NEWS HIGHLIGHT
CIBC was the most downloaded FinTech app in Canada in Q2 2022, with 488k downloads, more than a four-fold increase from Q2 2021 levels.
👉 Read the full FinTech Global article/newsletter here.
📰 ARTICLE
👨💻 BLOG
What do Revolut, Monzo Bank, N26, and Starling Bank have in common?
In this blog, C-Innovation discusses how similar (or different) each of these Neo-banks are, by looking further than just their valuation or number of customers.
👉 Read the full blog post by Isabel Richardson here.
💬 INTERVIEW
Dave CEO talks about long-term vision, Q2 Earnings, and operating plans:
👉 Read the full article here.
🧐 ANALYSIS
The Financial Brand analyzed the number of FDIC-insured banks and bank branches in the U.S. since 1935.
👉 Read the full article by Jeffry Pilcher, CEO of The Financial Brand, with additional reporting by special contributor John Ginovsky here.
NOW, ON TO THE SUMMARY OF LAST WEEK'S NEWS
🔦 DIGITAL BANKING HIGHLIGHTS
⭐️ In the past 50 years, we have witnessed changes in the capability of core banking systems. Link here.
⭐️ Neobanks lead the charge on 3% savings rates. Link here.
⭐️Revolut celebrates its five millionth UK customer with an advertising blitz. Link here. More on that: 👉 Revolut's most significant brand campaign is out now. Check it out here.
⭐️Uni to suspend card services amid central bank’s guidelines. Link here.
⭐️ 2022 State of consumer money movement report. Link here.
⭐️ Central banks issuing digital banking licenses fear fintech’s quick rise. Link here.
🌎 REGIONAL HIGHLIGHTS
UK 🇬🇧
Personal banking service quality results – Great Britain. Link here.
Atlantic Money has expanded its offering to euros. Link here.
Unlimint launches Banking as a Service API Solution. Link here.
NatWest rolls out the menopause support app for employees. Link here.
Atom Bank says a four-day work week has been “overwhelmingly positive”. Link here.
Paysend partnered with Currencycloud, the experts in simplifying business in a multi-currency world. Link here.
Revolut’s playbook to build a global financial superApp. Link here. Revolut launched a scholarship program aimed at female leader . Link here.
Railsr partnered with specialist insurance intermediary Elmore. Link here.
Zopa bank passes £2 billion in deposits. Link here.
HSBC rolled out Variable Recurring Payments (VRP) to its customers. Link here.
Capitalflow secures €10M. Link here.
EUROPE 🇪🇺
Virgin Money launched a new bank account switching incentive that could help customers cope with escalating living costs. Link here.
USA 🇺🇸
First Federal Bank of Kansas City launches a new digital banking experience powered by Narmi. Link here.
Moonbeam, a new bank built by US military veterans and designed exclusively for the country’s military community, is expected to launch in winter this year. Link here.
SMBC Group to launch Jenius Bank™, a New Digital Consumer Banking Business in the U.S. Link here.
Sumitomo Mitsui Financial Group to launch a new standalone digital bank in the US. Link here.
Bank of America records one billion digital logins in July. Link here.
Nationwide deploys open banking sweeping feature for new account opening. Link here.
LATAM
Nubank is growing fast in Mexico. Link here.
ASIA
TheNoor seeks to raise RM5m through the Islamic platform Ethis. Link here.
Bahrain Islamic Bank launches ‘end-to-end’ mobile account for corporates. Link here.
Kenanga bets big on its super app and embedded wealth for its next growth phase. Link here.
ZA Bank launched a wealth-management proposition. Link here.
Commercial Bank of Ceylon introduced a wearable banking product for its Flash digital account holders who use Apple Watches. Link here.
The Bangko Sentral ng Pilipinas reported that more than 50% Of Filipinos now own a financial account. Link here.
DBS Hong Kong rolls out its one-stop digital sustainability platform “LiveBetter”. Link here.
Shanghai Commercial & Savings Bank adopts Temenos platform. Link here.
The Bangko Sentral ng Pilipinas issued Certificates of Authority to all the six licensed digital banks in the country. Link here.
AUSTRALIA 🇦🇺
Australia to set its crypto regulatory stance. Link here.
Afterpay is closing down its Money app from next month, and ending its relationship with Westpac, due to conflicts with parent company Block’s Cash App. Link here.
Super Fierce flies past $116m in super savings for Aussies in just 5 months. Link here.
Up bank has launched "Locked Savers". Link here.
MIDDLE EAST
Zywa raises a $3 million Seed round. Link here.
Doha Bank launches 'Doha Pay' for android, IOS smartphone devices. Link here.
AFRICA
Tribe fintech launches with TymeBank in South Africa. Link here.
Google Wallet just launched in South Africa. Link here.
TajBank reveals plans to launch a digital banking app in September. Link here.
MOVERS AND SHAKERS
Bridgit appoints Stephen Doyle as Head of Distribution. Link here.
Dave Inc. appointed Tesa Aragones to its Board of Directors. Link here.
Revolut names Raymond Ng as Singapore CEO. Link here.