Fintech

The deal for PayPal’s consumer loan portfolio will make Synchrony a bigger player in e-commerce. And the agreement helps the Silicon Valley payments giant achieve its goal of reducing its exposure to the credit cycle.

The company has agreed to pay $49 million for First West Virginia Bancorp, the parent of Progressive Bank.

While technology will let many banks cut staff and reduce the size of branches, factors such as geography, customer demographics and strategic direction will ultimately shape the look and feel of future offices.

The key to loyalty and growth, said one expert, may be in building on a sense of community and making members feel lucky to be part of the CU.

TransferWise Ltd., the London-based international payments firm and one of Europe’s largest financial technology startups, said revenue in the fiscal year through March 2017 has more than doubled, allowing the company to post its first annual profit.

Natco plans to use the grant monies to expand lending opportunities for low-income consumers.

PayStand, a blockchain business-to-business payments platform, has completed a $6 million funding round through BlueRun Ventures.

The company, which had launched an at-the-market offering in late May, plans to use the proceeds for organic growth.

Zelle seemed like banks' catch-up attempt, but it may prove to be a true innovation.

Modulr Finance, a U.K. payments application interface provider, is providing a service level agreement for business-to-business payments that guarantees automation for high volumes of complex payments at any time.