Revolut’s ongoing expansion efforts have the U.K. FinTech focused on New Zealand. While Revolut already provides services to customers in the island nation, it now plans to provide banking services there, applying for a banking license from the Reserve Bank of New Zealand, according to...
Nubank — the digital challenger bank that recently became the most valuable bank in Latin America — reportedly is considering moving its legal base to the United Kingdom. The bank’s holding company, Nu Holdings, has been working with the British government to make the move,...
Santander’s fully digital bank, Openbank, launched in Mexico on Tuesday (Nov. 19). The Openbank Mexico website and app are now operating, promising a fully digital bank, no minimum balances, no fees and competitive interest rates, Openbank said in a Tuesday press release. Customers can also...
J.P. Morgan’s digital-only bank Chase UK has reportedly introduced its first credit card. The move comes after the banking giant’s British venture took in upwards of £20 billion in deposits in three years, the Financial Times (FT) reported Tuesday (Nov. 19). The card is being...
The payment and commerce platforms PayPal, Shopify and Block have long been developing ecosystems for merchants. For the small to mid-sized businesses, signing on to some services (such as payments processing) provides an onramp to accessing funding, via capital solutions that can help them meet...
Companies rise — or fall — based on how they manage working capital. In accounting terms, working capital is a simple construct: Subtract the liabilities of a firm from the assets on hand, and the capital that’s left over is what’s on hand to fund...
The average consumer has 5.3 bank accounts. Now that the Consumer Financial Protection Bureau has issued a final rule on data sharing, the age of open banking can get fully underway in the United States, and it will be easier than ever for banks’ retail...
Digital transformation holds promise for banks, but it could also give them pause. The traditional route, upgrading legacy systems and on-premise technology — going it alone, so to speak — is rife with friction and heavy upfront investment. There’s a long runway in tailoring online...
Today’s financial landscape is changing as embedded finance integrates banking services into everyday consumer experiences. This development is driven by brands stepping into roles traditionally held by banks, creating innovative and convenient financial solutions for consumers. A PYMNTS Intelligence Report, “Brands as the New Bankers:...
