The global commercial bank market is poised for explosive growth, projected to reach a staggering US$8.92 trillion by 2034, fueled by rising demand for wealth management, digital banking, and commercial & industrial mortgages. North America leads the charge, with significant contributions also expected from Asia.
Alkami Technology, a leading provider of cloud-based digital banking solutions, has announced plans for a secondary offering of 7.5 million shares of its common stock. The offering will be led by J.P. Morgan Securities LLC and involves the sale of shares by existing investors. Alkami will not be selling any shares in the offering and will not receive any proceeds from the sale.
Needham analyst Kyle Peterson initiated coverage on Axos Financial with a ‘Buy’ rating and a price target of $82.00, highlighting the company’s digital-first strategy, strong profitability, and potential for growth. Peterson believes Axos Financial’s unique approach and corporate culture position it for continued success in the banking industry.
Brazilian fintech Nu Holdings, known for its digital banking platform NuBank, has amassed over 100 million customers in Latin America. The company’s impressive earnings performance, expanding customer base, and international expansion have attracted investors, including Warren Buffett. While its stock price has recently dipped, Nu Holdings’ strong fundamentals suggest continued growth potential, leaving investors to decide whether the stock is overvalued or poised for further gains.
Q2 Holdings, a leading provider of digital banking solutions, delivered impressive Q2 2024 results, exceeding revenue and earnings expectations. The company’s strong performance was driven by continued growth in subscription revenue and new customer acquisitions. QTWO stock is currently setting up for a potential bull flag breakout, suggesting further upside potential.
Nasdaq is expanding its digital bank financial technology operations in Latin America by providing its AxiomSL regulatory reporting solution to Nubank, a digital bank with over 100 million customers across Brazil, Mexico, and Colombia. This partnership highlights the growing demand for third-party financial technology solutions in the region, driven by the rapid expansion of digital banking.
Kompasbank, Denmark’s innovative digital business bank, has secured €5.5 million in funding to expand its full-service banking offerings for small and medium-sized enterprises (SMEs). This latest investment will be used to grow the bank’s lending portfolio and introduce new products and services, including leasing, overdraft facilities, foreign exchange services, transaction banking, and payment solutions. Kompasbank aims to provide SMEs with a comprehensive and personalized banking experience through its digital platform.
This article provides a comprehensive overview of bank holidays in India during September 2024, outlining the specific dates and reasons for closures. It also highlights the availability of digital banking services for uninterrupted access to financial transactions.
BigPay introduces its new ‘Save to Travel Stash’ feature, allowing users to automatically save for their next trip by rounding up spare change from transactions. This feature also offers a 1% cash rebate on international spending in Asia and a chance to win a free trip through a lucky draw contest.
India’s rural and semi-urban areas continue to face significant underpenetration of financial services, primarily due to limited awareness of digital technology and financial inclusion. MD and CEO of PayNearby, Anand Kumar Bajaj, highlights the challenges faced by these regions, including lack of infrastructure, unreliable internet connectivity, and absence of physical branches. He emphasizes the need for assisted digital banking to enhance accessibility for underserved populations.
