CEO James Schenck says the institution's military focus means it must provide services for a group of consumers who move every few years. That has helped it focus more on mobile services and less on brick and mortar.
Though it is unclear why Rhinebeck Bancorp is looking to form Rhinebeck Commercial Bank, other mutual banks have pursued the strategy to work around a state law barring them from working with municipalities.
BBVA USA was one of the first U.S. banks to deploy a real-time core system and to purchase a neobank. Here's what PNC may keep, and what it may jettison, after it acquires the U.S. unit of the Spanish banking giant.