A new Financial Inclusion Index (FI-Index) created by India’s central bank shows that progress has been made toward bringing banking services to the country’s 1 billion-plus consumers, but more work still needs to be done. Preliminary results from the Reserve Bank of India (RBI) show...
Bangko Sentral ng Pilipinas Governor Benjamin Diokno on Thursday (Aug. 19) announced that the country’s central bank would stop accepting digital banking applications on Sept. 1 to allow regulators “to monitor” the industry. “We need to ensure that the business environment continues to allow healthy...
Revolut is partnering with employers in the U.K. to offer early wage access to their employees with the FinTech’s latest financial services product: Payday. Payday enables employees to draw down a portion of their wages as they earn them and instantly transfer the funds into...
Today in digital banking, Branch snags $540 million in Series B fundraising. Plus, Truist overhauls leadership team after 2019 merger and Latin American eCommerce platform Nuvemshop raises $500 million in Series E fundraising. Truist Announces New Leadership Roster Following Merger Truist Financial Corporation on Wednesday...
Financial services platform Upgrade closed a $105 million Series E funding round Wednesday (Aug. 11) that puts the company at a valuation of $3.325 billion, according to a press release. “We have experienced unprecedented growth and profitability this year, and the additional capital will enable...
These are busy days for Lisa Davis, managing director, head of digital channels at J.P. Morgan Chase. As she told Karen Webster in a recent interview, bringing commercial clients’ far-flung activities together in one digital effort — from mobile apps to file transmissions to APIs...
On the verge of going public, USD Coin (USDC) creator Circle is seeking status as a national digital currency bank, which would operate under the oversight, rules and guidance of the Federal Reserve, U.S. Treasury, Office of the Comptroller of the Currency (OCC) and the...
If done right, the expansion into high value, real-time B2B payments will be a “huge game changer,” Reserve Trust CEO Dave Wright told PYMNTS, pointing to the multi-trillion dollar opportunity that exists to digitize, modernize and democratize this largely untapped slice of the market. “Our...
Digital lender Kakao Bank’s stock market debut in South Korea rocketed out of the starting gate with share prices up 62 percent at 11:10 a.m. in Seoul on Friday (Aug. 6), according to multiple media reports. At one point, Kakao Bank’s shares on the Korea...
