Fintech
Cloud-hosted systems add flexibility to develop payment and lending services that aren't possible on legacy platforms. “We want to develop products that suit our customers rather than what our core provider tells us to provide,” said Samantha Pause, chief marketing and benefit officer at Mascoma Bank in New Hampshire.
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The M&A surge promises to improve the services fintechs offer to many banks. But it's also creating a new class of full-service competitors.
February 25 -
Eight out of 10 community bankers said in a new survey that the installment loan product appeals to them far less than it does to many fintechs and larger banks.
February 4
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MVB Bank more than tripled its deposits in five years by providing accounts to sports betting sites, as well as technology companies that cater to other industries.
February 4 -
Recognizing that many of the region's consumers are choosing startups, companies like Citigroup, JPMorgan Chase, Goldman Sachs, Santander and Scotiabank are taking stakes in nascent payment providers.
February 3 -
Working with Bumped, TAB Bank is offering customers “cash back” as fractional shares of popular retailers.
February 2 -
The bank technology provider Amount has acquired Linear Financial Technologies to supplement its consumer and buy now/pay later offerings with digital small-business loans.
February 1 -
AB - TechnologyThe retailer is funding a challenger bank called One that would be formed from the combination of several fintech firms. The startup would have a strong product set and cash position but could struggle to stand out in a crowded neobank field.
January 27 -
Goldsmith, the grandson of City National Bank’s co-founder, is set to retire as its chairman. In an interview, he betrayed no regrets about the company’s sale to Royal Bank of Canada, which was propelled by a similar logic about the need for scale that drives many deals today.
January 26 -
Valuations for payment technology companies skyrocketed over the past year, pushed by a wave of public listings and record venture capital investments. Some potential acquirers are waiting for prices to cool.
January 19
