FF News Logo
Thursday, April 23, 2026
Bottomline x FFNews

Breaking News

InsurTech NY: DataHaven on Eliminating Data Silos to Achieve a Single Source of Truth MPE 2026: Uber on Scaling Payments Across 80+ Global Markets InsurTech NY: EarthDaily on Climate Risk Data InsurTech NY: Turris on Distribution Workflows Investa Secures Direct FCA Authorisation, Furthering Growth in UK Retail Options Trading Smartstream Research Reveals Five Realities Redefining Buy-Side Reconciliations bunq Surpasses €100m Traded in First Year of Offering Crypto Nuvei Launches Direct Acquiring in Mexico  TheZebra.com Reports Nearly Half of First-Time Homebuyers Could Struggle With Mortgage Costs as Insurance Premiums Climb Consumer Support for AI in P&C Insurance Nearly Doubles in 2026, Insurity Survey Finds Canopy Connect Expands Insurance Intake Platform to Meet Agency Clients Where They Are Mastercard Study: Nearly 9 in 10 Consumers in Latin America and the Caribbean Are Ready to Embrace Everyday Digital Payments Otoma Unveils New Global Payments Infrastructure, Names New Leadership FIS Levels the Playing Field: New Trading Platform Gives Firms Wall Street-Grade Investment Tools Ballerine Introduces Agentic Detection to Stop Merchant Fraud Early as AI Scams Rise

January 22 2016

Two Digital Banks Launch in a Single Day

Share this post:

Share on LinkedIn Share on WhatsApp

Yesturday seemed like a good day to launch a digital bank.

At least, that’s what two banks decided this week. Yesterday morning, Barcelona-based CaixaBank launched imaginBank, which it describes as Spain’s first mobile-only bank for millennials. And also this morning, Equitable Bank, based in Toronto, announced EQ Bank, a digital-only bank with a strong savings rate and tools to help customers manage money as its selling points.

Don’t get us wrong about the simultaneous launch, though. Each bank likely spent years  on this launch leading up to today, and each deserves attention for its efforts.

This twin launch comes at a time when mobile banking weekly unique visitors exceeded branch visitors for the first time, according to a December Javelin report. EQ Bank and imaginBank follow in the footsteps of Hello Bank from BNP Paribas, and BankMobile from Customers Bank. Digital-only brands can help banks experiment with new brands to attract new customers, as well as try out modern tech stacks that remain separate from the bank’s own core systems.

mobile banking exceeds branchbankingMobile-only imaginBank notes in a press release that its offerings will be a “complete range of commission-free products and services, including current accounts, debit cards, consumer loans, personal finance management tools, and the latest functionality in mobile and P2P payments.”

 

 

 

EQ Bank, meanwhile, positions itself as a savings tool with its 3% savings rate. In addition to no fees and unlimited transfers, the bank promotes savings goals and personal financial management tools, which pairs nicely with the savings account.

CaixaBank has about $375 billion in assets, while Equitable Bank has approximately $14.4 billion.

BY PHILIP RYAN  Source: bankinnovation.net

  1. InsurTech NY: DataHaven on Eliminating Data Silos to Achieve a Single Source of Truth

    Insurtech

     Read more
  2. MPE 2026: Uber on Scaling Payments Across 80+ Global Markets

    Event Videos 2026

     Read more
  3. InsurTech NY: EarthDaily on Climate Risk Data

    Insurtech

     Read more
  4. InsurTech NY: Turris on Distribution Workflows

    Insurtech

     Read more
  5. Investa Secures Direct FCA Authorisation, Furthering Growth in UK Retail Options Trading

    News

     Read more
Financial Services Risk & Compliance