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Revolut Hits Profit in Singapore & Considers M&A in Indonesia

Revolut Hits Profit in Singapore & Considers M&A in Indonesia

Hey Digital Banking Fanatic! Revolut’s Singapore operation has reached a new milestone. In the latest financial year, the digital bank posted its first profit in the market, achieving a 15% net profit margin. This marks a significant moment for the local team and hints at the potential for its

Zopa Bank Doubles Profit to £34.2M, Eyes Expansion with New Current Account

Zopa Bank Doubles Profit to £34.2M, Eyes Expansion with New Current Account

Hey Digital Banking Fanatic! Zopa Bank has reported a significant financial achievement, doubling its pre-tax profit to £34.2 million for the fiscal year ending December 31, 2024. This marks the British digital bank's second consecutive year of profitability, underscoring its robust growth trajectory. CEO Jaidev Janardana highlighted

Tuum Steps Into Sharia-Compliant Financial Services

Tuum Steps Into Sharia-Compliant Financial Services

Hey Digital Banking Fanatic! Tuum, a European-based cloud-native modular core banking platform, is taking a step that may seem unexpected at first: the launch of Islamic Banking and Finance solutions. But the move is rooted in context. It’s been a year since the company began operating in the UAE—

$250M Penalty Hits Discover Before Merger

$250M Penalty Hits Discover Before Merger

Hey Digital Banking Fanatic! Two U.S. financial regulators just handed Discover Financial Services a $250 million penalty for years of misclassifying credit cards. The Federal Reserve and FDIC announced separate enforcement actions against the company, citing systemic overcharges on interchange fees dating back nearly two decades. At the core

Circle and BitGo Eye U.S. Bank Charters as Crypto Firms Seek Regulatory Clarity

Circle and BitGo Eye U.S. Bank Charters as Crypto Firms Seek Regulatory Clarity

Hey Digital Banking Fanatic! Major cryptocurrency firms, including Circle and BitGo, are reportedly preparing to apply for U.S. banking licenses, signaling a strategic shift toward deeper integration with the traditional financial system. The push for banking licenses aligns with recent legislative developments, including the advancement of the Stablecoin Transparency

Capital One-Discover Merger Gets Final Green Light, Creating a New Credit Card Powerhouse

Capital One-Discover Merger Gets Final Green Light, Creating a New Credit Card Powerhouse

Hey Digital Banking Fanatic! After a thorough 14-month review, Capital One has secured all necessary regulatory approvals to acquire Discover Financial Services in a $35.3 billion all-stock deal. When the transaction closes on May 18, 2025, it will create the largest credit card issuer in the United States. Both

Monzo Surpasses 12 Million Customers as It Marks 10 Years of FinTech Innovation

Monzo Surpasses 12 Million Customers as It Marks 10 Years of FinTech Innovation

Hey Digital Banking Fanatic! Monzo just crossed 12 million customers and it's not slowing down. The digital bank now serves one in five UK adults and over 600,000 businesses, a major milestone as it marks its 10th anniversary. "12 million customers now bank with Monzo!"