Brazilian digital bank Nubank now has more than 100 million customers. The company announced the achievement in a Wednesday (May 8) press release, saying it was the first digital banking platform to mark this milestone outside of Asia. “In 2013, we had set ourselves the ambitious goal to reach 1 million...
The amount of data now being generated by consumers is testing the constraints of the dictionary. Only 10 years ago it was measured in terabytes, which is a trillion bytes. But now those 329 million terabytes of data are generated every day, and data scientists have applied a relatively new term: The Zettabyte Era....
Revolut has reportedly made a $100 million-plus bet on Mexico’s remittance market. Speaking with Reuters Wednesday (April 17), Revolut Mexico CEO Juan Miguel Guerra said the bulk of that investment will be used to hire staff, cover short-term debt and expenses and maintain a strong...
A Revolut investor reportedly believes the FinTech’s value has climbed 45% since last year. An investment trust overseen by Schroders has upped its stake in the British company, from 7.88 million pounds ($9.75 million) as of Dec. 31, from 5.44 million pounds ($6.75 million) a year earlier, Bloomberg News reported Monday...
The banking landscape is undergoing a digital transformation, as traditional financial institutions (FIs) race to keep pace with evolving consumer preferences and technological advancements. Santander’s recent announcement of plans to launch its digital bank, Openbank, in the United States and Mexico in the second half of 2024 underscores...
Finzly has launched a new solution designed to help banks of all sizes participate in the embedded banking market. The new Account Galaxy includes virtual account and virtual ledger capabilities, the provider of modern money movement systems to financial institutions said in a Thursday (April 4) press release. “With...
It’s been well-documented that banks and FinTechs have been collaborating together on financial services innovation, where they once were mainly competitors. But for the banks striking partnerships with these digital-only players, regulators are weighing in, which may in result in new approaches to how those...
LendingTree has secured up to $175 million in financing from funds managed by Apollo affiliates. The company, which operates online financial services marketplace LendingTree.com, will draw $125 million of the first lien term loan facility upon funding, using it for general corporate purposes that may include the repayment of...
Dwolla has expanded its partnership with MX Technologies to help enterprises manage money movement. The company’s recently launched open banking services include bank verification and balance check capabilities powered by MX’s instant account verifications (IAV) and account aggregation solutions, the companies said in a Wednesday (March 27) press...
