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The Boston community bank and a fintech called Monit have developed an app that helps small-business owners forecast their cash flow and how certain events could affect them.December 11
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Small and midsize banks would pay for access to the Monit app and offer it to small-business clients as an add-on service.September 17
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Eastern Bank in Boston could raise as much as $1.7 billion to spend on acquisitions and technology investments that it says will be necessary to respond to customers' increasing preference for digital tools.June 18
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The startup spawned in Eastern Bank's innovation lab says its bank customers asked for client-friendly software for account opening, credit cards and more types of commercial lending.February 13
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Numerated, a vendor of loan prospecting, marketing and underwriting software that was developed within Eastern Bank, now has $32 million.September 10
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The Pittsburgh bank is using software initially developed by a fellow mutual to help build out its platform.August 1
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In the past few years, APIs have become a surprisingly hot topic, considered by many as a golden key to open banking and innovation.May 26
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Karen Mills, who led the Small Business Administration from 2009 to 2013, is joining the Eastern Bank spinoff Numerated as an adviser and investor as it tries to bring online-lending technology to community banks.March 6
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Thanks to big tech companies, the business world is moving to third-party platforms, or online marketplaces where buyers pull sellers' products off digital shelves. A growing number of financial institutions — including BBVA, Citi and community banks like Eastern — say they can't afford to sit out the trend.January 31
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Everyone agrees good corporate governance involves a board that is just the “right” size and has a “good mix” of knowledgeable insiders and independent watchdogs. But setting bright-line rules for banks as varied as M&T, Wells Fargo and Eastern Bank is hard.June 13