British digital bank Monzo is launching a free account for children under 16. The bank on Wednesday announced the waitlist for Monzo for Under 16s, designed to offer money management tools to kids between the ages of 6 and 15. “The account gives children the...
Banking software provider Matera has landed a $100 million investment from growth investor Warburg Pincus. The new funding, announced in a news release Wednesday (July 17), will help finance Matera’s continued expansion into North America and fuel product development. Matera has its roots in Brazil,...
TD Bank’s chief compliance officer, Monica Kowal, has reportedly left the bank. Kowal left the bank during the past week, and an internal memo that announced the move in late June did not mention a reason, Reuters reported Sunday (July 7), citing the memo. TD Bank did not...
Spanish bank BBVA is reportedly considering opening a digital consumer bank in Germany. In this effort, the bank will use existing technology to lower the cost of expansion, Bloomberg reported Monday (June 17), citing unnamed sources. BBVA did not immediately reply to PYMNTS’ request for...
Financial institutions (FIs) can’t meet the evolving needs of digital-first customers with traditional solutions and infrastructure. That’s why the finance industry must continually modernize the banking experience — and its relatively monolithic core architecture — to adapt to technological, behavioral and market disruptions. With the...
It’s been quite a year so far for FinTechs in general and neobanks in particular. However, Jason Wilk, CEO of digital banking app Dave, doesn’t view the volatility rocking the FinTech sector in the wake of the Synapse bankruptcy as a long-lived seismic shift. “I...
Live Oak Bank has launched its first embedded banking partnership. Powered by the bank’s in-house technology and a Finxact core, this offering enables software companies to directly deliver Live Oak banking products and services to their own customers, Live Oak Bank said in a Monday...
French payments app Lydia has launched a European banking super app called Sumeria. The company will invest more than €100 million and hire 400 people in three years to become a major player in this sector in France before expanding to other parts of Europe, Lydia...
It has been a wild ride for many companies that come under the heading ‘“FinTech.” Case in point: MoneyLion. Just a year ago the company was a neobank struggling under a $9 million loss for Q1 2023. Fast forward a year and the data-driven financial...
