Singaporean fintech firm Atlantis launches digital bank in India

Neo banking is an online concept where there are no physical branches of a bank and customers transact all services digitally.

Singapore-based fintech company Atlantis on Monday said it has entered the Indian market with the launch of digital bank, Neo-Bank.

Eyeing the USD 15.7 billion global millennial banking industry, Atlantis, a Singapore-headquartered fintech company has announced the launch of Neo-Bank for Gen Z and millennials, Atlantis said in a release.

The financial value of millennials to the banking system is expected to increase by almost 80 per cent in the next five years to more than USD 27 billion from the current USD 15.7 billion in revenue that millennials contribute.

The company believes that customer-first intelligent systems and design will drive the future of neo-banking, it said. Neo banking is an online concept where there are no physical branches of a bank and customers transact all services digitally.

Neo-Bank

Read More

Continue Reading

Bank of America Corp DE Acquires 48,341 Shares of Huron Consulting Group (NASDAQ:HURN)

Bank of America Corp DE grew its holdings in shares of Huron Consulting Group (NASDAQ:HURN) by 30.9% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 204,752 shares of the business services provider’s stock after buying an additional 48,341 shares during the period. Bank of America Corp DE owned 0.90% of Huron Consulting Group worth $9,060,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the stock. Aperio Group LLC boosted its stake in shares of Huron Consulting Group by 25.2% during the 1st quarter. Aperio Group LLC now owns 4,844 shares of the business services provider’s stock worth $220,000 after acquiring an additional 976 shares during the last quarter. Rhumbline Advisers boosted its stake in shares of Huron Consulting Group by 7.8%

Read More

Continue Reading

Digital banking trailblazer UnionBank is Phl’s ‘Best Bank for SMEs’

Three-time “Best Digital Bank” winner, Union Bank of the Philippines (UnionBank), was recently acclaimed as the Philippines’ Best Bank for SMEs, by Asiamoney. 

This latest award comes on the heels of UnionBank’s citation as the top 2 ‘Most Helpful Banks in Asia-Pacific during COVID-19”by BankQuality.com.  

It also underscores UnionBank’s primary goal of using its digital expertise to extend more financial services to all Filipinos, including the strategically-vital small and medium enterprises (SMEs) who comprise about 99% of the country’s registered businesses. 

UnionBank was honored for providing better funding opportunities to small businesses which are the engines of growth and innovation in the country. 

“The potential for SMEs in the Philippines is huge but too many small retailers, who are unable to access the conventional banking system, turn to loan sharks. By helping bring these companies into the financial system, UnionBank is making an admirable contribution not just to its own

Read More

Continue Reading

Why I&M Bank chose rights issue to raise capital | The New Times

I&M Bank (Rwanda) Plc on Friday 25th September morning officially opened applications for its Rights Issue following approval by Capital Market Authority and the Rwanda Stock Exchange.

A rights issue presents an opportunity for current shareholders to increase their stake in a company, for a reduced cost or special price.

 

 In the process, shareholders increase their ownership of a company’s stock without diluting the value of shares held.

 

The I&M Bank Rwanda Rights Issue presents a chance for existing shareholders the opportunity to increase their stake in the Bank by buying 1 new share for every 5 ordinary shares they hold at a discounted price of Rwf 39.60.

 

 For instance, a shareholder with 1000 shares can buy a maximum of 200 shares.

The discounted price of Rwf 39.60 is against the current price of shares, Rwf 46 as of last trading by market close on Friday.

From the rights issue,

Read More

Continue Reading

Mastercard and Asian Development Bank build multi-stakeholder alliance to digitalize supply chains for wholesalers and retailers

• Creates a new digital pathway to credit for wholesalers for better cash flow management and inventory investments

• Collaborative solution digitally integrates Fast Moving Consumer Goods (FMCG) marketing campaigns with wholesale and retail inventories and promotions to drive more supply chain efficiency and sales

SINGAPORE – SEPTEMBER 8, 2020 – Mastercard and its partners N-Frnds, SGeBIZ and Finastra have formed an alliance with the support of the Asian Development Bank (ADB) to create technology solutions to drive greater digital efficiency across the retail supply chain in Asia and increase wholesalers’ access to credit.

“These unprecedented times underscore the importance of building an inclusive, sustainable digital economy, including through the application of technology to digitize trade, which can make it easier for small and medium-sized businesses to participate in global supply chains,” commented Michael Froman, Vice-Chairman and President, Strategic Growth for Mastercard. “Innovative partnerships like this one can support the

Read More

Continue Reading

Oneiro, Inc. Launches First Central Bank Digital Currency Platform on Cosmos Protocol Aimed Toward Banks and Financial Institutions

TipRanks

3 ‘Strong Buy’ Stocks With Over 7% Dividend Yield

Markets are volatile, there can be no doubt. So far this month, the S&P 500 has fallen 9% from its peak. The tech-heavy NASDAQ, which had led the gainers all summer, is now leading the on the fall, having lost 11% since September 2. The three-week tumble has investors worried that we may be on the brink of another bear market.The headwinds are strong. The usual September swoon, the upcoming election, doubts about another round of economic stimulus – all are putting downward pressure on the stock markets.Which doesn’t mean that there are no opportunities. As the old saw goes, “Bulls and bears can both make money, while the pigs get slaughtered.” A falling market may worry investors, but a smart strategy can prevent the portfolio from losing too much long-term value while maintaining a steady income. Dividend stocks, which

Read More

Continue Reading

Bank of England Andrew Bailey on Future of Digital Currencies

In a recent speech entitled “Reinventing the Wheel (with More Automation)”, Andrew Bailey, Governor and chief executive of the Bank of England, discussed the future of digital currencies. According to Governor Bailey, we have reached the point in the cycle of innovation in payments where it is essential that we set the standards and thus the expectations for how innovation will take effect. It should not, in his opinion, happen the other way round, with the standard setting playing catch up.

Governor Bailey began his speech with a discussion of the recent history of cash, migration to electronic payments systems, and more recently the advent of cryptocurrencies. In particular, he focused on stablecoins. Governor Bailey noted that stablecoins could offer some useful benefits, such as reducing frictions in payments, by potentially increasing the speed and lowering the cost of payments, particularly if global stablecoins were to

Read More

Continue Reading

FINCA Microfinance Bank participated in the 13th Annual Mobile Commerce Conference

The 13th Annual Mobile Commerce Conference, exclusively sponsored by FINCA Microfinance Bank, was conducted virtually on Wednesday, 16th September. The event was attended by notable figures from various industries across Pakistan including, finance, retail, utility and by representatives of the national regulators.

FINCA Microfinance Bank Ltd in Pakistan is one of the 20 global subsidiaries being led by FINCA Impact Finance, whose purpose is to be an unconventional community-based bank that provides innovative and impactful financial services to low-income individuals and communities. In line with the global mission, FINCA Pakistan pioneered digital loan applications in Pakistan by using tablets, digitally transforming the entire client acquisition & loan disbursement process. With a network of 132 branches in 120 cities in the country, FINCA Pakistan has enabled more than 1.2 million people and is growing by the day.

Amongst other paperless and convenient measures taken by the bank, are the digital financial

Read More

Continue Reading

A digital banking trailblazer: UnionBank is Philippines’ ‘Best Bank for SMEs’

Three-time “Best Digital Bank” winner, Union Bank of the Philippines (UnionBank), was recently acclaimed as the Philippines’ Best Bank for SMEs, by Asiamoney. This latest award comes on the heels of UnionBank’s citation as the top 2 ‘Most Helpful Banks in Asia- Pacific during COVID-19”by BankQuality.com.

It also underscores UnionBank’s primary goal of using its digital expertise to extend more financial services to all Filipinos, including the strategically-vital small and medium enterprises (SMEs) who comprise about 99% of the country’s registered businesses.

UnionBank was honored for providing better funding opportunities to small businesses which are the engines of growth and innovation in the country.

“The potential for SMEs in the Philippines is huge but too many small retailers, who are unable to access the conventional banking system, turn to loan sharks. By helping bring these companies into the financial system, UnionBank is making an admirable contribution not just to its

Read More

Continue Reading

Bank of New York Mellon Corp Has $3.41 Million Stock Position in ANI Pharmaceuticals Inc (NASDAQ:ANIP)

Bank of New York Mellon Corp raised its position in ANI Pharmaceuticals Inc (NASDAQ:ANIP) by 0.8% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 105,519 shares of the specialty pharmaceutical company’s stock after purchasing an additional 850 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.86% of ANI Pharmaceuticals worth $3,412,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Advisor Group Holdings Inc. bought a new stake in ANI Pharmaceuticals during the 1st quarter valued at approximately $42,000. Sowell Financial Services LLC increased its position in shares of ANI Pharmaceuticals by 15,300.0% in the first quarter. Sowell Financial Services LLC now owns 1,232 shares of the specialty pharmaceutical company’s stock valued at

Read More

Continue Reading

Load More