BANCA DIGITAL

Banca digital ‘Bolivia va al ritmo del mundo’

Con el objetivo de conocer e intercambiar el desarrollo de innovadoras soluciones tecnológicas para el sistema financiero, la semana que pasó, por iniciativa de 15 startups de Chile, Colombia y Bolivia, se desarrolló en la ciudad de Santa Cruz la tercera versión de Digital Bank Bolivia.

Sigue leyendo

BANCA DIGITAL

VARO MONEY TO BECOME THE US’ FIRST FULLY LICENSED DIGITAL BANK: US-based neobank Varo Money has been granted preliminary approval for a national bank charter from the Office of the Comptroller of the Currency (OCC), which it appliedfor last year. This could mark the first digital-only bank in the US to become a fully licensed bank. Currently, Varo Money still relies on a partnership with The Bancorp Bank to offer financial services including savings, loans, and account-based offerings. Obtaining a national bank charter would allow Varo Money to further expand its product suite and provide its services in all 50 states. Additionally, it could further streamline its operations, and lower costs by eliminating any fees it pays to the incumbent. Sigue leyendo

BANCA DIGITAL

HSBC WADES IN ON THE DIGITAL-ONLY BANK MARKET: Europe’s largest lender, HSBC, is close to launching a stand-alone digital bank, reports The Telegraph. The bank has already recruited in excess of 100 people for the venture, dubbed Project Iceberg, according to sources familiar with the matter cited by The Telegraph. HSBC is the latest high-street lender in the UK to have entered the race to build a separate online bank in the face of fierce competition from neobanks like Monzo, Revolut, and Starling. Last week, we reported that RBS had enlisted Starling to help it with its digital bank ambitions, and Santander is also reportedly in the process of building an online outfit for the UK market. With Monzo signing up 18,000 current account holders per week, and Starling having signed up more than 200,000 users by this point, incumbents, particularly in the UK, are seeing more and more competition from neobanks. And, given these challenger banks are free from legacy products and systems, they have managed to develop agile and responsive products and services to target an increasingly tech-savvy customer base. HSBC’s move is evidence that incumbents are taking the challenge posed by these fintechs seriously. However, with the UK’s digital-bank market saturated, the success of HSBC’s new offering is far from guaranteed.

BANCA DIGITAL

HONG KONG’S VIRTUAL BANKING LICENSE DRAWS A CROWD: Financial services giant Standard Chartered has set up a subsidiary for its forthcoming digital-only bank and applied for a virtual banking license in Hong Kong. The bank announced its intention to apply for the license in June, and is creating this new venture to help it breakaway from its legacy systems, in an effort to better collaborate with startups and acquire new clients, it said. The territory’s financial regulator, the Hong Kong Monetary Authority (HKMA), announced the decisionto issue its first online-only banking licenses in May 2018. And the HKMA says over 70 firms have shown an interest so far, according to Reuters. Sigue leyendo

BANCA DIGITAL

RBS ENLISTS NEOBANK STARLING FOR DIGITAL BANK AMBITION: Royal Bank of Scotland, one of the UK’s major lenders, has recruited neobank Starling to help it build a stand-alone digital bank, reports The Times. According to a shareholder letter from the challenger bank’s chief executive, Anne Boden, Starling has signed a deal that will see it provide payment services to assist new digital initiatives at RBS and its subsidiary NatWest. While the financial details of the agreement have not been disclosed, The Sunday Times believes the deal is for RBS’ new digital platform, which is currently under development. Starling has grown significantly over the past year, with 210,000 current accounts now active. Although this is significantly lower than neobank competitors Revolut and Monzo, it represents an almost four-fold increase from November 2017, when membership stood at 43,000. And, whereas 45% of Monzo users deposit £500 ($645) or more per month, Starling claims that average deposits across its current accounts is almost double that at £900 ($1,162). Having reported pre-tax losses of £11.6 million ($15 million) for the year ended November 2017, the partnership with RBS should help Starling improve its margins by enabling it to serve a much wider base. RBS’ move to partner with Starling is also a promising strategy, as it will enable the incumbent to tap into the neobank’s technological prowess.

BANCA DIGITAL

JPMORGAN TO LAUNCH A NEW DIGITAL INVESTMENT SERVICE: Banking giant JPMorgan will roll out a new digital investment service, dubbed You Invest, next week. The service will be available to everyone using JPMorgan’s mobile banking app or website, and users will get 100 free trades in their first year. People holding $15,000 or more with the bank will get this perk every year, but other users will have to pay the standard $2.95 per trade after. For comparison, TD Ameritrade charges $6.95 per trade, while Charles Schwab charges $4.95. There is no minimum required to open an account, and consumers can sign up for the service via JPMorgan’s banking app in 3 minutes, according to CNBC. They can then transfer money from Chase accounts as well as outside accounts. Additionally, JPMorgan will launch its own robo-advisor in January to help people better manage their investments. Sigue leyendo

BANCA DIGITAL

Parking se alzó con el primer lugar del Digital Bank La Paz

El Digital Bank continua su paso por Bolivia. En esta ocasión el escenario elegido para continuar diseñando la banca del futuro fue La Paz.

Este 23 de agosto se realizó una nueva edición del Digital Bank en  la capital boliviana. Desde muy temprano se dieron cita en las inmediaciones del Hotel Casa Grande importantes empresarios de sectores relacionados con la banca y la tecnología, así como emprendedores y desarrolladores, quienes aprovecharon para conocer sobre las nuevas tendencias y tecnologías de innovación financiera que se manejan en América Latina.

Sigue leyendo

BANCA DIGITAL

Mobiquity® Money de Comviva impulsa el primer servicio 100% financiero digital de Colombia, MOVii

Comviva, el líder mundial en el suministro de soluciones de movilidad, anunció hoy que ha desplegado su popular plataforma mobiquity® Money  para impulsar el servicio financiero digital más reciente de Colombia, MOVii. MOVii, lanzado el 11 de julio de 2018, es un innovador servicio de dinero móvil que permite a los colombianos bancarizadosy no bancarizados hacer transacciones financieras desde su teléfono móvil con facilidad, comodidad y seguridad.

Sigue leyendo

BANCA DIGITAL

JPMORGAN TO LAUNCH A NEW DIGITAL INVESTMENT SERVICE: Banking giant JPMorgan will roll out a new digital investment service, dubbed You Invest, next week. The service will be available to everyone using JPMorgan’s mobile banking app or website, and users will get 100 free trades in their first year. People holding $15,000 or more with the bank will get this perk every year, but other users will have to pay the standard $2.95 per trade after. For comparison, TD Ameritrade charges $6.95 per trade, while Charles Schwab charges $4.95. There is no minimum required to open an account, and consumers can sign up for the service via JPMorgan’s banking app in 3 minutes, according to CNBC. They can then transfer money from Chase accounts as well as outside accounts. Additionally, JPMorgan will launch its own robo-advisor in January to help people better manage their investments. Sigue leyendo