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There are 27 Digital banks that are considered the biggest Digital banks in the world. Of those 27 Digital Banks, 22 of them are majority-owned by the likes of JPMorgan Chase & Co., Citigroup Inc., Wells Fargo & Company, HSBC Holdings PLC, and others.
Digital banks are those growing institutions that provide Digital banking services, including Online Banking and Mobile Applications. Digital Banks can be international or domestic, but they must offer Digital services to the masses.
Digital Bank technologies include Digital Banking websites on computers and mobile devices, Digital Bank Mobile Apps (for iOS and Android), SMS (text) messaging systems for use with Digital Banks, Digital Bank services via Digital TV, Digital Bank kiosks and Digital Bank branches.
Digital Bank technologies allow Digital banking customers to move seamlessly between Digital devices, Digital channels, and Digital tools. Digital Banking services are offered for consumer Digital bank accounts, Digital business Digital bank accounts, small businesses, and corporations.
Digital Banking is Digital money, Digital payments, and Digital consumer lending. Digital Banks are Digital financial service providers, Digital wealth managers (investment accounts), and Digital insurance providers (life insurance, health insurance).
Digital Banking technologies are quickly overtaking traditional banking services offered by Digital banks’ brick-and-mortar branches. Digital Bank owners now have access to Digital Intelligence and Digital information previously only available to Digital inner-circle bankers.
Digital Bank owners can now monitor Digital bank account activity, Digital transactions, and Digital credit card usage in real-time – from Digital devices like tablets and smartphones, laptops, and desktop computers. Digital Banking owners can monitor Digital money movements via Digital market data (price quotes), global currency exchanges, Digital securities exchanges, and Digital stock markets.
Digital banking owners can monitor Digital bank account balances, Digital transactions (purchases), and Digital credit card usage for Digital employees of Digital consumers.
Digital Banking owners can provide Digital business financial services to merchants that offer Digital goods, services, or other types of sales-related products/services online.
Mobile commerce is one Digital bank technology Digital banking owners are using to provide Digital services to Digital goods merchants. Digital goods merchants can now accept Digital payments from Digital consumers on their mobile devices, all from the convenience of a digital tablet, smartphone or laptop device.
Digital Bank technologies have allowed Digital Banking owners to build Digital banks as Digital brand powerhouses – Digital brands that focus Digital banking services, Digital tools and Digital products on Digital consumers/ Digital customers.
Digital Banking owners understand Digital consumers want Digital solutions to improve their Digital lifestyle; Digital Banking owners are outfitting Digital bank branch locations with self-service digital kiosks (digital ATMs) that allow Digital customers (Digital banking customers) to withdraw cash or deposit money – either Digital banknotes or Digital coins – Digital banking customers can also transfer Digital funds and Digital checks between their Digital accounts.
Digital Banking owners are trying to achieve brick-and-mortar Digital Bank branch locations in every neighborhood, so Digital consumers have a Digital location they can visit in person if they need services like Digital money orders, Digital wire transfers.
Let’s look at other well-known digital banks in the US and around the world to see who owns them
Who owns Ally Bank?
Ally was started in 2000 as GMAC (General Motors Acceptance Corporation). Currently, Ally is an American bank that specializes in Digital banking. Customers enjoy Digital tools like Digital checking accounts and Digital savings accounts with great interest rates.
Ownership of Ally Financial (NYSE: ALLY) is both public and private. The Digital Bank has Digital owners like Warren Buffett’s Berkshire Hathaway Inc. (NYSE: BRK.A, BRK.B), Digital mutual fund Digital ETF Digital Exchange Traded Fund Vanguard Group, and Digital private equity Digital firm The Carlyle Group (NASDAQ: CG).
- Founded: 2000
- CEO: Jeffrey J. Brown
- Parent Institution: Ally Financials
Who owns Axos Bank?
Axos Bank Digital banking services were formerly known as Digital 1st. Digital 1st was founded in 2000 and Digital 1st changed its name to Axos Digital Bank in 2017. Digital consumers who hold Digital checking account Digital savings accounts can benefit from Axos’ ultra-low interest rates on loans and Digital interest rates on deposits, all while enjoying Digital mobile banking Digital tools.
Ownership of Digital 1st/Axos Digital Bank (OTC: BXS_B) is Digital public and Digital private. Institutional Digital owners of Digital 1st/Axos Digital Bank include Digital mutual fund Digital ETF Digital Exchange Traded Fund Vanguard Group and Global X Management Co. LLC (NYSE: GNX). Digital 1st/Axos Digital Bank is Digital owned by Digital CEO Digital bank Digital banking Digital owners that are also Banks in the United States.
- Founded: 2000
- CEO: Greg Garrabrants
- Parent Institution: Axos Financial Inc.
Who owns Chime?
Chime Digital banking Digital bank was founded in 2013. Digital owners can provide Digital business financial services to merchants that offer Digital goods, services, or other types of sales-related products/services online. Mobile commerce is one Digital bank technology Digital Banking owners are using to provide Digital services to Digital goods merchants. Chime is one of the newest brands in the US’ Digital Banking industry. Ownership of Chime (NASDAQ: CHIM) is private. Its biggest investors include Vanguard, BlackRock and Digital private equity, Leonard Green & Partners.
- Founded: 2013
- CEO: Chris Britt
- Parent Institution: Chime Holdings Inc. (parent holding company of Chime)
Who owns Cash App?
Cash Digital App was founded in 2013. Cash is owned by Jack Dorsey, who is also the founder/CEO of Twitter (NYSE: TWTR). Cash has both public and private owners. Public owners include Vanguard, BlackRock and other big investors.
- Founded : 2013
- CEO: Jack Dorsey
- Parent Institution : Square Inc.
Who owns Cogni?
Cogni Digital Bank was founded in 2018. Digital owners of Cogni offer Digital financial services like Digital checking accounts and Digital savings accounts to consumers that also offer Digital personal loans, Digital small business loans and more.
Ownership of Cogni (OTCPK: CEGY) is private equity digital firms like Digital River Digital Holdings LLC Digital owners Digital portfolio companies. Cogni Digital Bank Digital executives own a significant portion of ownership in the Digital banking company, with founders each owning 10% and Digital CFO owning 2.5% of Digital banking company’s stock.
- Founded : 2018
- CEO: Archie Ravishankar
- Parent Institution: Community Federal Savings Bank
Who owns Lili Digital?
Lilion is a Digital bank that offers Digital checking accounts and savings accounts. Digital owners of Lilion offer personal loans, mortgages and business loans as well.
Ownership of Lili (OTC: LLIT) is public under the ticker symbol LLIT. Public owners of Lili include Digital Green Digital Mountain Digital Equity Digital owners Digital Digital Holdings Bermuda Ltd Digital Delavaco Digital Capital Bermuda Digital Opportunity Funds.
- Founded : 2018
- CEO: Lilac Bar David (CEO), Liran Zelkha
- Parent Institution: Lillian Co., Inc. (parent holding company of Lilion)