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    Home»Startups»Technology and Startups

    Check Out These New Digital Banks

    Sushma SinghBy Sushma SinghNovember 15, 2022 Technology and Startups
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    Recently conducted surveys of the European banking sector have revealed that large retail banks have only digitized 30-40% of their processes. Another glaring statistic that stood out in this survey was the fact that most European banks allocate less than 0.5% of their total expenditure on digitization.

    Check Out These New Digital Banks

    Sniffing an opportunity to overtake these laggards, many digital banks have set up shop in the EU region. These banks have applied light-weight platforms which significantly increase technological interventions. For instance, using e-forms and workflow systems is one way to increase digitization and it does not require any major investments.

    Going digital does not necessarily mean you have to invest millions in new infrastructure and hiring developers. It can be done by maximizing the use of existing technological platforms. We take a look at these seven new FinTech companies working in the Digital Banking segment in Europe and the United States.

    Check Out These New Digital Banks

    Atom Bank – www.atombank.co.uk

    A Mobile-first bank, it began operations in late 2016. Its first customers were enrolled through an exclusive invitation-only process. The digital bank has launched two fixed saver accounts this year. It also offers SME lending and residential mortgages. Customers can access their bank account using face and voice recognition. The app also includes a customised unique logo that you can create or choose.

    Cross River Bank – www.crossriverbank.com

    Cross River Bank promises to deliver enhanced banking services to individuals and corporations across the United States. The firm has strategic partnerships with fintech companies to deliver integrated solutions that cater to the lending marketplace and payments processing field. The firm has developed superior financial technology that is set to transform banking in the United States.

    Crowd Valley – www.crowdvalley.com

    Crowd Valley provides modern banking API architecture that enables developers to launch finance applications faster. The platform is built with bank-grade security and can serve as a cloud back office for lending and investing applications. The platform has high-security stands of 2048 bit encryption and is being used by more than 100 global financial service corporations.

    Check Out These New Digital Banks

    Fintonic – www.fintonic.com

    Their mobile app helps you identify what’s happening with your bank accounts. You get access to loans and insurance from more than fifty banks through their app. It also has a built-in algorithm that analyses the suitability of a user for a loan. Many of their customers become eligible for a pre-approved loan based on their credit history. The company has expanded operations in Latin America with its development team based in Spain.

    Budget Insight – www.budget-insight.com

    This French startup provides budgeting insight through its bank account aggregation API. It is used by more than 50 client companies to power their aggregation platforms. Budget insight helps banks and third-party service providers gain insights into the spending habits of bank account holders so that tailor-made solutions can be presented to them.

    Check Out These New Digital Banks

    Tandem – www.tandem.co.uk

    This banking app is still not open to the public but you can sign up to get an invitation. The company intends to help manage your expenses by forecasting your monthly spending in advance. The app also provides alerts on bills due and helps find better deals by analyzing your purchases. For instance, if you pay your electricity provider through this app, the app will determine if there is a cheaper energy provider nearby and alert you to switch to a new service provider.

    Solaris Bank – www.solarisbank.de

    Solaris bank provides a robust platform with modular API’s that can be used to build a scalable, secure banking platform. It is a tech company planning to disrupt the banking software sector. Their platform is being used by several fintech companies to launch services quickly without having to wait for months to develop a beta offering.

    Check Out These New Digital Banks

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    sushma
    Sushma Singh

      Sushma is a seasoned business writer and content creator with over 7 years of experience in the field. She has a talent for taking complex topics and breaking them down into easily understandable language that engages and educates her readers. Her expertise allows her to cover a wide range of topics relevant to the B2B industry, providing business owners with the knowledge they need to make informed decisions and drive growth.

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      The information provided on this page is for informational purposes only. We encourage you to conduct your own research and due diligence on any entities named in this article. We are not affiliated with, endorsed by, or sponsored by any products, corporations, or their affiliates or subsidiaries. References to the mentioned apps/websites are dynamic in nature, and we shall strive to keep these updated. The numbers stated may differ from the actual numbers.

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