Fintech

While companies may already have technology in place that supports efficient payments and collections in their home region, treasurers and finance managers need to reflect the diverse and evolving payment and collection demands of customers and suppliers in each market, says Standard Chartered's Tarek Elyafi.

The industry saw small gains in many loan categories during the second quarter, but credit cards declined. A new study from WalletHub shows the biggest quarterly drop in credit card balances in over 30 years.

Bartow Morgan Jr., who ran Brand Banking when it was sold to Renasant, also plans to raise $150 million to expand the seller's products and services.

Donor management provider Pushpay has added new software that will help churches target donations through digital channels while providing more interactions and communication within congregations.

Biometric cards have garnered more attention in recent times through various trials, but the coronavirus pandemic looks set to accelerate their adoption with a series of major card issuers beginning to roll out the technology.

A plan to merge the $5.5 million-asset credit union into Cal-Com FCU will provide additional services for members while also easing the process of replacing several employees who plan to retire this year.

Business-to-consumer payments are rapidly shifting to digital channels, replacing paper checks with a variety of instant-payment methods for gig work and corporate reimbursements.

The New Jersey company will add three branches in the northern part of the state as part of the transaction.

The company is selling $355 million of Paycheck Protection Program credits to The Loan Source, a nonbank lender that is also buying PPP loans from three other banks.

The purchase-and-assumption transaction, if approved, would become the first credit union-bank merger in Alabama.