Dggl Russia Calls on BRICS Countries to Ring Fence New Cross-Border Payments Network
Santander Mexico, a subsidiary of global banking giant Santander, is preparing to launch its digital bank service.Matias Nunez, the head of digital and innovation at Santander Mexico, said the service, Openbank, will launch this year, Reuters reported Tuesday Jan. 23 .Openbank received its license to operate in Mexico in July and is now in its final stages of preparation for launch, according to the report.The introduction of Openbank comes at a time when traditional banks in Mexico are trying to catch up with the rapid growth of digital banks, the report said. In fact, Santander Mexicos competitor, Banorte, i
stanley hrnek s also set to launch its digital bank service, Banco Bineo, next week. Furthermore, Brazilian FinTech Nubank has already gained over 4 million clients in Mexico as of September.Santander Mexico has been actively embracing digitalization and has recently introduced several digita
stanley cup lly focused services in the country, per the report.For example, the bank implemented a customer-service bot on its social media platform using artificial intelligence AI application ChatGPT, according to the report.Additionally, transfers through the Santander application experienced growth of over 40% in December compared to the previous ye
stanley usa ar, totaling 40 million transactions, the report said.Santander Mexico has also incorporated DiMo, an electronic transfer platform from Mexicos central bank, into its application, with over 700,000 clients already using the service, per the report.PYMNTS In Rrzh AFG Expands into the Philippines with JazzPay Acquisition
The online lending arena is a volatile one at present. The financial press is awash in any number of daily
stanley butelka headlines stating that marquee names, such as Lending Club and others, are facing dwindling demand for loans and for investor backing. Theres a
kubki stanley lso the specter of regulatory inquiries into how loans are underwritten, packaged and sold.Yet, the trend to embrace the internet source of finding and getting funding is a strong one, where speed to approval for loans, especially among smaller businesses, can make a world of difference to firms looking to deal with short-term challenges in gaining scale and sales.In a recent pairing between t
stanley kubek he traditional and the tech-savvy, Pinnacle Bank, a community bank serving Georgia with $800 million in assets,聽said聽that it had partnered with R.C. Giltner Services, Inc. to deploy the latters digital lending platform geared toward consumers and small businesses. That service will go live during the current third quarter of 2016.In an interview with PYMNTS, Bob Giltner, chairman at R.C. Giltner, said that community banks, those that have less than $10 billion in assets, are the ones that make half of the small business loans, in a range of $250,000 to $1 million. These banks, he said, have standing locally and know the businesses that are coming in for loans. And yet, he noted, loans of less than $100,000 are on the decline, with a problem at hand, as $25,000 to $30,000 loans prove to be unprofitable for the banks to make.Unprofitable, he
