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Revolut Likely To Apply For US Bank Charter

PYMNTS

European digital bank Revolut , the continent's largest such institution with 13 million users, is close to applying for a U.S. digital banking license, according to a report by CNBC. The nature of the market for FinTech startups breaking into the larger U.S.

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Here is The Math Behind the High-Yield Account

South State Correspondent

There have been many a banker who has said they want to offer a high-yield account because the “higher interest expense is just like paying marketing costs.” ” This banker may even be thinking of starting a completely new digital bank using a high-yield account as its flagship product. Not bad, but not great.

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N26: Cloud-Banking Core Key To Meeting Consumers’ Mobile Banking Needs

PYMNTS

This is because many legacy FIs in particular are still reliant upon legacy infrastructure, which is simply not designed to handle the sheer volume of data generated in today’s digital banking sphere. Developments Around the Cloud Banking World. The FI officially opened the digital platform to U.S. customers in late May.

Meeting 227
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Galileo To Power Dave Banking App

PYMNTS

Dave’s digital bank account and debit card have no minimum balance requirement, no overdraft fees and access to 32,000 MoneyPass ATMs, fee-free. Galileo, headquartered in Salt Lake City, Utah, supports a variety of payment solutions.

Utah 143
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Bitcoin Daily: SEC Freezes Crypto Firm?s Assets, Alleging It Stole $12M From Investors; Hong Kong: 39 Pct Of New FinTechs There Are Blockchain Firms; Coinbase Eyes Selling Blockchain Analytics To IRS, DEA

PYMNTS

The Securities & Exchange Commission ( SEC ) has moved to freeze the assets of a $12 million cryptocurrency mining and multi-level marketing (MLM) scheme, Coindesk reports. The defendant in the case is Utah resident Daniel F. Putnam, whose businesses — MMT Distributions and R&D Global — and associates — Angel A.

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Stripe Teardown: How The $35B Payments Company Plans To Supercharge Online Retail

CB Insights

Brothers Patrick and John Collison founded Stripe in 2010 in an attempt to gain share in online payments, a then-nascent market with seemingly boundless growth opportunity. Market opportunity. Stripe is ramping up its private market investments. Expansion into emerging markets. Stripe’s market opportunity.

Online 98
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Top 34 Digital Lenders to U.S. Small Businesses (SMB) (July 2024)

Fintech Labs Insights

What you’ll need to qualify: 6+ months time in business | 500+ credit score | $15K minimum monthly bank deposits | 3 most recent months’ business bank statements Get Started NEW : Looking for digital banks, lenders, payment providers, insurance or digital accounting for small businesses?

Atlanta 29