Fintechbits

Topic

Digital Banking news

Digital banking covers the institutions themselves: neobanks and challenger banks, the charters and licences that let them hold deposits, and the core banking platforms they run on. Fintechbits follows the slow, expensive business of becoming a bank (OCC applications, federal trust charters, EU licences and the rejections that come with them) and the product decisions that come after: deposit accounts, overdrafts, savings rates and the economics of each. Coverage includes Chime, Revolut, Monzo, Nubank, Bunq and Varo, and the infrastructure vendors behind them such as Mambu and Thought Machine. Where a story is really about how money moves rather than who holds it, it belongs under payments.

New to the subject? Start with the explainers: What is Banking-as-a-Service?, What is embedded finance? and What is open banking?

Latest developments

Valley National Bancorp will pay about $340 million for Bluevine, a small-business banking platform holding $2.1 billion of deposits. Nu Holdings said it is not pursuing a deal for Monzo after Sky News reported talks at a valuation of up to 10 billion pounds. Payward has connected to Singapore Gulf Bank's real-time clearing network for round-the-clock dollar settlement, and Ant International has run dirham and dollar pilots on HSBC's tokenised deposit rail in the UAE. Tekion is bringing FDIC-insured accounts from Core Bank to more than 2,000 dealerships in Q4, and MVB Bank will hold deposits for DingoBlu's planned neobank.

Based on

Summarised with AI from the Fintechbits articles above and checked against them. How we use AI

Latest digital banking coverage