FinTech industry in January 2022

What’s new in digital financial and banking areas in January 2022? Here are a few briefs:

Revolut rolled out its banking licence in ten more EU countries.

With its Lithuanian banking licence Revolut operates as a bank in Germany, Denmark, Netherlands, Sweden, Finland, Belgium, Spain, Iceland, Luxembourg and Lichtenstein since January 2022. Revolut launches its bank accounts in 28 EU countries in total now.

The company is still not available as a bank in Italy, Ireland and the UK, and can offer only e-money accounts in these countries. Customers of mentioned regions are not qualifying for deposit protections.

Nordigen collaborated with the personal finance management application Bilance.

The partnership of Nordigen and Bilance allows its clients to monitor both digital and cash transactions of all the major banks and finance platforms in the Baltics. Just before that, Latvia-based Open Banking platform Nordigen has partnered with another international company CH Konsultatsioonid via their accounting software Trigon.

Klarna intends to start issuing physical cards.

The physical Klarna cards are essentially to be a credit card but with slightly different terms. Klarna claims that traditional credit cards have a greater threat since revolving credit products see the most profitable consumers in those, who are staying in debt. And the absolute opposite – the best Klarna`s consumers are those, who use BNPL for a purchase and then pay on time and in full.

Disclaimer: While the information contained herein is believed to be true and accurate we takes no responsibility for reliance on this information. If wrong, please contact using our contact forms.

«Digital Bank Expert» offers all kinds of services around the world.

If you are a Fintech company we can help you to:

– achieve GDPR and PCI DSS compliance;

– ensure ease of compliance demonstration with your product;

– bring maturity into corporate governance and operations management;

– make sure your business is ready to deliver on a large scale and partner with the largest financial institutions;

– validate configurable options and integration with additional data sources and third-party products;

– localise offering;

– validate compliance with regional laws;

– search for business partners and many other things to start operations on new markets.

If you are a Bank, we can help you to:

– audit platforms and business processes to ensure they are efficiently oversight, documented and follow best practices;

– search for bottlenecks and opportunities to improve;

– collate business requirements;

– define ultimate goals and project success criteria;

– build long list of potential solutions;

– lead multi-functional teams to mitigate project risk;

– deliver a transformation capacity.

«Digital Bank Expert» will give your an individual approach as we care about our customers. Please use our “Quote” contact form.