Neobanks

Payday Raises $3 Million for ‘Future of Work’ in Africa

Payday Raises $3 Million for ‘Future of Work’ in Africa
Payday Raises $3 Million for ‘Future of Work’ in Africa
March 29, 2023  |  Investments

African neobank Payday is looking to new markets after raising $3 million. The funding, announced Wednesday (March 29), will help the company secure operational licensing...

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FDIC Says Neobank Utoppia Misled Customers About Insurance
FDIC Says Neobank Utoppia Misled Customers About Insurance
March 28, 2023  |  Bank Regulation

Federal regulators say neobank Utoppia misled its customers about its banking protections. The Federal Deposit Insurance Corp. announced Monday (March 27) that it was demanding...

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For Neobank Customers, Security Takes Backseat to Speed and Convenience
For Neobank Customers, Security Takes Backseat to Speed and Convenience
March 23, 2023  |  Banking

Amid the turmoil rocking the financial services sector, as the flights to safety continue, individual and enterprise customers are weighing what’s important to them. And...

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FinTechs Help Global Firms ‘Go Digital’ in Latin America
FinTechs Help Global Firms ‘Go Digital’ in Latin America
February 21, 2023  |  Latin America

Latin America is in the midst of a historical digital commerce boom. The region’s market of small- to mid-sized businesses and professionals that offer digital...

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Digital Bank Zopa Acquires BNPL Firm DivideBuy
Digital Bank Zopa Acquires BNPL Firm DivideBuy
February 16, 2023  |  Partnerships

British neobank Zopa has found its first-ever acquisition in buy now, pay later firm DivideBuy. The deal, announced Thursday (Feb. 16) comes two weeks after...

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Inflation Gives Banks Opening to Become Consumers’ Trusted Financial Adviser, Says Truist
Inflation Gives Banks Opening to Become Consumers’ Trusted Financial Adviser, Says Truist
February 14, 2023  |  Banking

More consumers are struggling with their finances and budgeting. A recent survey found that 55% of Americans are in a difficult financial position, up 37%...

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FIs Leverage Trust, Security to Compete in EU Neobank Space
FIs Leverage Trust, Security to Compete in EU Neobank Space
February 02, 2023  |  Banking

JPMorgan Chase is banking on digital to help grow its business in Europe. Less than 18 months after it launched its digital proposition Chase in...

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Monzo Revenue Surges 250% as UK Neobanks Talk Up Profitability
Monzo Revenue Surges 250% as UK Neobanks Talk Up Profitability
January 31, 2023  |  Earnings

Monzo is one step closer to achieving annual profitability by the end of this year. The firm’s latest earnings show that the U.K.-based neobank’s annualized...

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