The lender, which was flagged to the FDIC by consumer advocates last week, along with its partner banks, also agreed to waive more than $300,000 in past-due interest fees owed by D.C.-based customers.
Two years after its launch in Mexico, Nubank is making progress amid a highly concentrated banking industry.
Nested has reported an 8 million British pound ($10 million) fundraising from investors Passion Capital, GFC and Tim Bunting; the growing company is another example of proptech innovation in residential real estate; targeting the UK housing market, the company guarantees the sale of listed property within 90 days either to a new owner or by buying the property themselves. Source
Nexus Dealmakers Summit and the LendIt Fintech Industry Awards will be happening in Miami on February 7-8. Fintech leaders, as well as investors and bankers, will be gathering to network and celebrate the amazing achievements of the past 18 months.
Bloomberg discusses the inner workings of SoftBank’s fund which includes Apple and Saudi Arabia; many former Deutsche Bank AG traders work at the firm; it has invested in a broad range of companies and is currently the world’s largest private equity fund. Source
OakNorth Bank has released its annual report, showing huge growth in pre-tax profits to £134.5 million over the course of 2021.
Mono is building a fully digital bank with accounts that can be opened in around 15 minutes versus an average of two weeks at an incumbent bank.
Standard Chartered and Ant Financial signed a memorandum of understanding to expand their fintech reach in the Belt and Road Initiative; as Banking Technology reports the details are not flushed out yet but they are looking to broaden access to financial services in countries where the Belt and Road Initiative reaches; the companies have already partnered on funding settlement, FX services and Alipay Wallet. Source.
China's fintech sector is growing with new technologies and companies developing solutions for payments, loans and online investing; Forbes provides details on the market and discusses challenges; while the market has been conducive to new innovation, tighter regulations could be a factor and a lack of skilled workers could also affect the market's development. Source
UK based digital only bank Revolut is now looking to secure a UK banking license with Brexit forcing the country...