ClearBank has received its license for digital banking services in the UK; firm is run by Nick Ogden who also has payment services experience with WorldPay and CashFlows; the UK currently leads the challenger bank market with approximately 42 digital only banks. Source
Shares in Kakao Pay, the fintech unit of South Korea’s largest messaging app operator Kakao Corp, closed up 114% in its market debut on Wednesday. The Ant Financial-backed company ended day one of trading at $163.3 (193,000 won), securing a market capitalization of $21.2 billion. Kakao Pay’s shares surged as high as $194.6 (230,000 won)...
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Standard Chartered has shared the brand name and identity along with the new website for Mox, their new digital bank;...
The debut of new mobile wallets ahead of the Winter Olympics in Beijing is an impetus for the Federal Reserve to bring its own central bank digital currency project up to speed.
LendUp aims to improve the financial health of their customers through various products and initiatives; the interview covers a wide variety of topics including the subprime customer in the US, who they lend to today, their 2018 plans, their proprietary technology and more. Source
Wells Fargo, Morgan Stanley, JPMorgan Chase and others have launched or will launch their own robo products to compete with slicker startups; after seeing the success of startups in the space the banks realized they needed to improve their offerings to keep customers and attract newer, younger ones; the trend to move away from white labeling technology to building their own is a recent one as some traditional players like UBS, State Street and John Hancock are still using services from SigFig, Motif or NextCapital. Source.
With accessibility long being a barrier for most mere mortals to enter Web3, Unstoppable Domains has launched an app to break it down.
Digitalization has brought retail home, despite products being overseas. PayU sees opportunity for payments to meet consumers there too.
Nubank has finally reached breakeven, sending bolstering signs that ripple across the regional fintech ecosystem.