TDB Digest – What’s Cooking in the FinTech and Banking Industry (Issue 1)

TDB Digest

Fintech Update

  • TransferWise, the British unicorn founded in 2011, has recently been granted multiple new licenses by the Financial Conduct Authority. These licenses will allow the company to deal in retail investments. This is welcomed news after the unicorn revealed that it had £ 2bn in customer deposits worldwide. Learn more about TransferWise at Transferwise
  • Entirely providing services on a digital app and online, UK’s Monument is offering  savings and property investment lending products to cater to the country’s affluent individuals having a net-worth between £ 250,000 to £ 5 million. The bank now finds itself in the last stages of the regulatory approval process of obtaining a digital bank license. Learn more about Monument at Monument

Funding in the midst of Covid-19? 

  • Tonik – a digital-only neo-bank in Philippines raised $21 million in Series A equity funding round. Both Sequoia India and Point72 Ventures invested in this round. Tonik provides services such as loans, deposits, payments and card products and was recently granted its own bank license by the Philippines banking regulator. In light of Covid-19, Greg Krasnov, Founder & CEO of Tonik, noted that “in the Philippines, where over 70% of the population remains unbanked, we are observing a rapid jump in consumer demand for digital banking and digital transfers since the start of the year”. Tonikbank
  • Penta – a digital platform providing business banking services to small and medium sized companies, in addition to its first Series B funding of about $18.5 million, raised an additional $4 million in the first week of July 2020, thereby finalizing its Series B funding. The investors in the latest round are S7V and Presight Capital, as well as two family offices. In May 2020, Penta expanded its customer base to include sole self-employed people as well. Penta

Collaboration between banks and FinTechs

  • Saxo Bank, a challenger bank in Denmark has signed an agreement with 5 Danish banks enabling 500,000 customers of the 5 banks to use Saxo bank’s user-friendly trading and investment solutions. This particular partnership will help Danish banks reduce costs and streamline the otherwise complex process while providing simple state-of-the-art investment solutions. Saxo bank
  • A global open banking platform, Railsbank is collaborating with Singapore-based neo-bank Aspire  to expand its services for small to medium-sized businesses (SMBs). Aspire is currently focusing in south-east Asia region and with the help of Railsbank Singapore Dollar Account, Aspire can provide seamless digital banking services across the region using Railsbank’s API services. Learn more about the start-ups at Railsbank and Aspire 

Sustainable Finance

  • DBS Bank in Singapore recently laid out a first-of-its-kind framework called “Sustainable and Transition Finance Framework and Taxonomy” which will guide the bank’s corporate clients who believe in furthering their goal to achieve sustainable economic activities. A section of the framework “outlines the way DBS manages transactions that are classified as “Green”, “Transition” and/or contributing to the United Nations Sustainable Development Goals (UN SDGs)” DBS
  • Two of the largest banks in Singapore – DBS Bank and OCBC Bank, have joined forces and lent a sustainability loan of S$ 700 million to a  joint venture  Keppel Infrastructure Trust and Keppel Energy Pte. Ltd. This loan is the first sustainability linked loan in Singapore’s energy sector and will be used to reduce carbon footprint of the company’s operations. DBS

 

Shopping Cart

Media Kit

    Data Protection

    Personal Data (“Data”) submitted for Media Kit (“Media Kit”), and/or collected in the form of first name, last name, email address and other contact details may be used for the purposes of inviting you to future events and for reaching out to you with content which may be of interest to you. For these purposes, The Digital Banker will share the Data with our associate companies (including event and content sponsors) to promote their products and services. You will also be automatically subscribed as a user on www.thedigitalbanker.com. If you would like to opt-out, email us at [email protected].

    By clicking Submit, you acknowledge that you consent/ have sufficient informed consent to the collection, use and disclosure of Data as set out above.

    The Digital Banker Summit

    Moving on from FTX: is 2023 the year of CBDCs?

    Indonesia, Jakarta

    Thailand, Bangkok

    Philippines, Manila

    Contact Us

      Data Protection

      The information you provide will be held on our database and may be used to keep you informed of our and our associate companies’ products and for selected third party mailings. Please tick the box if you would prefer not to be contacted for these purposes:

      Request Nomination Pack

        Data Protection

        The information you provide will be held on our database and may be used to keep you informed of our and our associate companies’ products and for selected third party mailings. Please tick the box if you would prefer not to be contacted for these purposes:

        Registration Form

          Data Protection

          The information you provide will be held on our database and may be used to keep you informed of our and our associate companies’ products and for selected third party mailings. Please tick the box if you would prefer not to be contacted for these purposes:

          Registration Form

            Data Protection

            The information you provide will be held on our database and may be used to keep you informed of our and our associate companies’ products and for selected third party mailings. Please tick the box if you would prefer not to be contacted for these purposes:

            Registration Form

              Data Protection

              The information you provide will be held on our database and may be used to keep you informed of our and our associate companies’ products and for selected third party mailings. Please tick the box if you would prefer not to be contacted for these purposes:

              Registration Form

                Data Protection

                The information you provide will be held on our database and may be used to keep you informed of our and our associate companies’ products and for selected third party mailings. Please tick the box if you would prefer not to be contacted for these purposes:

                Registration Form

                  Data Protection

                  The information you provide will be held on our database and may be used to keep you informed of our and our associate companies’ products and for selected third party mailings. Please tick the box if you would prefer not to be contacted for these purposes:

                  The world’s preeminent Private Banks and Wealth Managers are demonstrating a committed drive in innovation, advisory, new products and services to meet the sophisticated needs of their clients.

                  COVID-19
                  Amid economic activity revival on the back of the Covid-19 vaccine program, organisations moving from business continuity plans to stable working environments, together with the slightest improvement in unemployment numbers, forced the world to adjust to new realities. Coming to terms with the “new normal”, global investors are now on the look-out for attractive and stable investment opportunities.

                  Needs of Private Wealth customers and families worldwide have drastically changed due to the pandemic and banks have had to accelerate efforts to deploy a multi-channel service strategy and safeguard clients’ businesses and wealth against negative impacts of economic uncertainly.

                  The Global Private Banking Innovation Awards will recognise the world’s best private banks, wealth managers and asset managers that are championing innovation across advisory, service, products, customer experience and more.

                  Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam, quis nostrud exercitation ullamco laboris nisi ut aliquip ex ea commodo consequat. Duis aute irure dolor in reprehenderit in voluptate velit esse cillum dolore eu fugiat nulla pariatur. 

                  Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam, quis nostrud exercitation ullamco laboris nisi ut aliquip ex ea commodo consequat. Duis aute irure dolor in reprehenderit in voluptate velit esse cillum dolore eu fugiat nulla pariatur. Excepteur sint occaecat cupidatat non proident, sunt in culpa qui officia deserunt mollit anim id est laborum.

                  Request Nomination Pack

                  Error: Contact form not found.