The trend away from in-person banking that began for reasons related to the pandemic has continued as consumers have grown comfortable with doing more of their banking through non-physical channels. Financial institutions’ (FIs’) physical branches are becoming increasingly specialized or closing altogether, with remaining locations...
U.K. digital bank Starling has seen its valuation double to over £2.5 billion ($3.15 billion), the Financial Times reported Tuesday (April 26). Starling is reportedly trying to build on the expansion it experienced over the pandemic, considering an initial public offering (IPO) within a few...
Banking app Revolut wants to expand into the mortgage sector and cryptocurrency wallets, the company’s chief executive said Tuesday (April 26). According to Reuters, Revolut CEO Nik Storonsky said his company needs to do more to become a one-stop financial services provider — or a...
Nigeria’s current financial system can be tough to navigate for millions of merchants who live in remote communities and have no access to reliable banking solutions. The lack of a strong banking system is why agency banking has gained popularity in the West African nation,...
Open banking is emerging across every market, but it’s doing so at different paces, for different reasons and in the face of different challenges. “I think the reason for the emergence of open banking is probably driving the challenges that are being faced in each...
“The typical legacy bank isn’t a technology company. They are purchasing a core banking system from a vendor that sells to banks around the world.” That statement by Tiernan Kennedy, CEO at Umba, a digital bank for emerging markets, is his description of the legacy...
DLM Capital, a leading development investment bank, has gotten the final approval of the Central Bank of Nigeria (CBN) to buy Links Microfinance Bank, a report says, which will make it further ensconced in its position to launch a digital banking program. Sonnie B. Ayere,...
QNB Group, one of the largest financial institutions in the Middle East and Africa, has unveiled its latest digital banking products and services, the Doha, Qatar-based financial institution announced Tuesday (March 29). Among its solutions is a strategy for cross-border payments with Ripple, a technology...
The pandemic’s repercussions have been challenging for businesses, particularly small to mid-sized businesses (SMBs). A recent report from Ernst & Young found that 74% of small businesses have taken hits to revenue, profit margins and sales because of the pandemic, and 56% have had to...
