Digital Banking/page/3 news and trends

Santander Appoints PayPal Veteran Nitin Prabhu to Head Digital Consumer Bank

December 11, 2024
Santander, personnel
MercadoLibre and Nubank Get More Aggressive in LatAm Digital Banking Race
Latin America // December 10, 2024

Who will become Latin America’s dominant digital banking force, MercadoLibre or Nubank? It’s a question posed Tuesday (Dec. 10) in a report by Bloomberg News, which noted that MercadoLibre — which has its roots in the eCommerce world — is increasingly seeking the same turf...

Newly Flush With Capital, Challenger Banks Face New Challenges
Security & Fraud // December 10, 2024

A wave of funding rounds over the past several months is giving challenger banks fresh financial firepower to position themselves as alternatives to traditional banks, mainstays of financial services that have been around for decades — even centuries. While these digitally focused challengers promise to...

BofA’s CashPro App Milestone Spotlights Treasury’s Digital Evolution
B2B Payments // December 10, 2024

The days of chief financial officers and treasury teams being tethered to desktops or waiting for approvals via email are over. By the end of 2024, Bank of America’s corporate clients will have made over $1 trillion in payment approvals on the bank’s CashPro App,...

Scam-Related Fraud Jumped 56% in 2024, Surpassing Digital Payment Crimes
Security & Fraud // December 10, 2024

As digital transactions play a role in the financial landscape, financial institutions invest heavily in fraud prevention tools. Efforts to combat fraud in routine digital payments have been successful, but a new challenge has emerged in the form of social engineering scams. According to the...

Interviews & Exclusives
Newly Flush With Capital, Challenger Banks Face New Challenges

December 10, 2024
A wave of funding rounds over the past several months is giving challenger banks fresh financial firepower to position themselves as alternatives to traditional banks, mainstays of financial services that have been around for decades — even centuries. While these digitally focused challengers promise to bring financial services and products to just about anyone who […]

BofA’s CashPro App Milestone Spotlights Treasury’s Digital Evolution

December 10, 2024
The days of chief financial officers and treasury teams being tethered to desktops or waiting for approvals via email are over. By the end of 2024, Bank of America’s corporate...

Scam-Related Fraud Jumped 56% in 2024, Surpassing Digital Payment Crimes

December 10, 2024
As digital transactions play a role in the financial landscape, financial institutions invest heavily in fraud prevention tools. Efforts to combat fraud in routine digital payments have been successful, but...

Suit Against Synapse Partner Banks Spotlights Risks of Commingled Funds

December 02, 2024
The eventual resolution of the key question in the wake of the Synapse bankruptcy — namely, where the money went — will take time. And those seeking answers are turning...

Quick Reads
Santander Appoints PayPal Veteran Nitin Prabhu to Head Digital Consumer Bank

December 11, 2024
Banco Santander has appointed PayPal veteran Nitin Prabhu as its global head of Digital Consumer Bank (DCB). In this role as head of one of the bank’s five global businesses, Prabhu will be responsible for the auto and consumer business globally as well as its fully digital bank Openbank, Santander said in a Wednesday (Dec. 11) press release. “DCB is […]

MercadoLibre and Nubank Get More Aggressive in LatAm Digital Banking Race

December 10, 2024
Who will become Latin America’s dominant digital banking force, MercadoLibre or Nubank? It’s a question posed Tuesday (Dec. 10) in a report by Bloomberg News, which noted that MercadoLibre —...

Revolut Aims to Become New Zealand’s First Global Digital Bank

December 09, 2024
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...

UK Digital Bank Zopa Raises $85 Million for Expansion and GenAI

December 06, 2024
British digital bank Zopa has raised 80 million euros (about $85 million) in an equity funding round to accelerate its growth and launch new products. The bank expects to double...