Starling Bank turns a profit on mortgage loan growth

Starling Bank turns a profit on mortgage loan growth

British digital bank Starling has reported its first annual profit after breaking into the mortgage market with a series of portfolio acquisitions. The app-based bank posted a pre-tax profit of £32.1mn for the year to the end of March, reversing a £13.7mn loss in the same period a year earlier. Revenues were boosted by the

Cheap And Functional Mobile Phones, Affordable Internet Access, Necessary For Digital Finance In Developing Economies – World Bank

Cheap And Functional Mobile Phones, Affordable Internet Access, Necessary For Digital Finance In Developing Economies – World Bank

The president of the World Bank, David Malpass, has disclosed that cheap and functional mobile phones as well as affordable internet access are necessary for the expansion of digital finance in developing economies. He disclosed that the covid-19 pandemic influenced a digital revolution that has catalyzed the increase in access to and use of financial

Digital challenger Varo Bank lays off 75 employees in effort to cut costs

Digital challenger Varo Bank lays off 75 employees in effort to cut costs

San Francisco-based digital bank Varo has laid off 75 members of staff as it looks to restructure in the pursuit of profitability. Varo Bank lays off 75 employees In an announcement on the bank’s website, CEO Colin Walsh says the firm is “not immune to the impacts of our current environment” and the job cuts

Deutsche Bank and Home Credit close ESG-linked loan focusing on financial inclusion and literacy

Deutsche Bank and Home Credit close ESG-linked loan focusing on financial inclusion and literacy

Deutsche Bank and PT Home Credit Indonesia (“Home Credit”), a global consumer finance company today announced they have closed a IDR156 billion (US$10.4 million) ESG-linked loan facility that focuses on performance targets linked to ESG principles. This is Home Credit’s first ESG-linked loan in Indonesia, as it seeks to deliver sustainable financial services and inclusive

Around 19 Million Merchants Utilizing QRIS: Bank Indonesia

Around 19 Million Merchants Utilizing QRIS: Bank Indonesia

TEMPO.CO, Jakarta – Bank Indonesia (BI) recorded that the number of merchants utilizing its Indonesian Standard Quick Response Code (QRIS) currently stood at 19 million since being launched on August 17, 2019. Of the total figure, 90 percent are micro, small, and medium enterprises. QRIS makes payments easier, cheaper, and faster, so that all parties are

Bread Financial Comenity Bank waives credit card fees system outage

Bread Financial Comenity Bank waives credit card fees system outage

For at least the past week, some Bread Financial customers have been unable to access their credit card accounts online and over the phone amid a planned system update. Formerly Alliance Data, the Columbus-based financial services company manages about 130 private-label and co-brand credit card programs for partners including the NFL, Victoria’s Secret, Ulta Beauty

MoneyLion, AEON Get Malaysian Digital Bank License

MoneyLion, AEON Get Malaysian Digital Bank License

Digital finance and lifestyle platform MoneyLion has said that it’s gotten a digital banking license from the Ministry of Finance of Malaysia in a consortium with the Japanese financial group AEON Financial Services and its Malaysian subsidiary AEON Credit Service. This comes as MoneyLion is trying to roll out its software-as-a-service (SaaS) offering, which will

El Salvador Central Bank Bitcoin Summit

El Salvador Central Bank Bitcoin Summit

What happened in El Salvador to encourage 44 different countries to send representatives from 32 central banks and 12 other financial institutions? The short answer is that last week the country hosted an economic summit to learn about El Salvador’s strategies and experience in financial inclusion. And while the event was not a Bitcoin-specific gathering,