Revolut’s revenues jumped 95% last year as it continues to pursue a British banking license. The London-based FinTech released its 2023 annual report Tuesday (July 2), showing the company’s revenues reaching $2.2 billion in 2023, up from $1.1 billion in 2022. In addition, Revolut’s profit...
Trovata has introduced an embedded banking solution designed for corporate bank accounts. The new Multibank Connector includes an extensive library of direct-to-bank application programming interfaces (APIs) to power financial services worldwide, the provider of corporate banking APIs said in a Wednesday (June 26) press release....
Evergreen Money introduced a high-yield checking account that offers the functionality of a traditional checking account. Deposits in the new Liquid Treasuries account are automatically swept to invest in U.S. Treasury Bills, the company said in a Tuesday (June 25) press release. The account earns...
One of the themes in PYMNTS’ monthly “What’s Next in Payments” series is that the Banking-as-a-Service (BaaS) model is under pressure right now. Synapse declared bankruptcy, while Evolve Bank and Trust was issued a cease-and-desist order, which in part requires the company to get approval...
Revolut is reportedly planning a share sale and seeking a valuation that would be close to that of Lloyds Banking Group. The British FinTech is seeking a valuation of greater than $40 billion as it works to sell about $500 million worth of employee shares...
The Treasury Prime Partner Marketplace now includes FS Vector’s regulatory compliance training platform Headmaster. This addition comes as part of a newly formalized relationship between Treasury Prime, which is an embedded banking software company, and FS Vector, which is a regulatory advisory firm, the companies...
Starling has just finished its third profitable year amid plans to expand its software operations. The British neobank on Wednesday (June 12) released its annual report, showing a 54.7% increase in pre-tax profits, to 301.1 million pounds ($384.3 million). The firm’s revenues rose by 50.6% to 682.2...
Digital banking architecture is having a moment. Financial technology companies and consumer-facing neobanks are using it to create new features, applications and customer experiences. Regulators are focused on it as they try to make sense of their potential involvement. And as its importance spreads beyond...
Many companies pay lip service to their “ecosystem” as they navigate the world of digital banking solution providers and FinTech partnerships. Five months into his tenure at NCR Voyix, President of Digital Banking Brendan Tansill is doing much more than talking the talk. As he...
