European deposit marketplace Raisin has passed $6mn in brokered savings deposits; deposits grew by more than $3.5mn in 2017 and they saw their international customer base grow by 20 percent; the company acquired PBF Solutions, passed 100,000 customers, added 12 new partner banks and received more than $49mn in interest income last year; “We are pleased to be able to offer savers throughout Europe an attractive alternative.” said Tamaz Georgadze, CEO and founding member, to AltFi. Source.
Open Banking kicked off in the UK this past January. Thus far we’ve seen slower adoption among traditional banks, a...
Former FDIC Chair Sheila Bair writes in the FT that in light of the recent hack to Equifax should regulators be providing more entry points to customer data; she goes on to explain past bank hacks are typically done using a third party who has gained access to a customer’s data; other key points include can these service providers cover potential losses and are regulators forcing service providers into the most secure process. Source.
According to new research by open banking platform provider Tink 41 percent of European banks failed to meet the latest...
Despite the fact a recent study suggests only 22% of those in the UK had even heard of “open banking”...
Open banking platform Deposit Solutions raised $20mn from existing shareholders e.ventures and Greycroft; they will use the funds to continue building the platform out and expand to more markets around the globe; “This investment round is a strong vote of confidence from our shareholders and allows us to further focus on our core mission, establishing Open Banking as the new industry standard for the deposit market,” Deposit Solutions founder and CEO Dr. Tim Sievers said to Bankless Times. Source.
In one parameter, data show that 80% of USA consumers and 82% of Canadians use a payment or banking service connected to their primary accounts.
A new report by Dutch bank ING says 69 percent of consumers expect their bank to provide the latest technology...
Finastra CEO Simon Paris tells CNBC that European Banks are falling behind their U.S. counterparts when it comes to innovation;...
Franq's Series A extension was led by Quona Capital and had the participation of Globo Ventures and Valor Capital Group.