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Brex Offers FDIC Insurance, Adds Chief Legal Officer

PYMNTS

a financial services holding company based in Kansas City, Missouri. This partnership aligns with UMB’s strategy of working with best-in-class innovators like Brex.”. In May, Brex closed a $150 million funding round led by previous investor DST and new investor Lone Pine Capital, Brex said.

FDIC 166
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Community Bank Outlook: Challenges and Opportunities in 2021 and Beyond

Abrigo

Takeaway 2 Community banks are at a crossroads: innovate or be left behind (or acquired). 1 Today, community banks are at a critical crossroads: innovate or be left behind (or acquired). . One key area that can be both an obstacle and an opportunity for community banks is technology, the Federal Reserve Bank of Kansas City says.

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Acquire or Be Acquired 2023: Disruption ‘Comes Home’ to Banking

Gonzobanker

While AOBA provides a fertile forum for buyers and potential sellers in the bank M&A space to commensurate, the crowd uses this valuable face time to also delve into discussions about the economy, strategic growth, fintech innovation, competition, and talent wars.

Arizona 144
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How The FedNow Service Could Keep Checks In B2B Payments

PYMNTS

The impact of the Federal Reserve’ s faster payments initiative puts an interesting spin on the nation’s payments innovation efforts overall. But reports also noted that the acceleration of check payments could have significant impact for companies and small businesses that use paper checks to pay vendors or employees.

Payments 166
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Onward Financial’s Employer-Backed Payday Loan Alternative

PYMNTS

In an effort to innovate a solution to these cash flow challenges, Washington founded Onward Financial. Today the firm is only working with employers in Kansas City, as the payday lending capital of America seemed an ideal place for the service’s test run. But now, they are ready to think about expanding.

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Why AI Risk Tech And Banks Could Be A Match Made In Heaven

PYMNTS

Customers Bank and its BankMobile division, First National Bank of Omaha, First Federal Bank of Kansas City and Accion Chicago are all slated to partner with Upstart to extend a white label version of its lending platform to their customers.

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CFPB announces new appointments to advisory groups

CFPB Monitor

Arjan Schutte, Founder and Managing Partner, Core Innovation Capital, Los Angeles, CA. Raul Vazquez, Chief Executive Officer, Oportun, Redwood City, CA. Trent Sorbe, President, Central Payments Division, Central Bank of Kansas City, Kansas City, MO. William Howle, Head of U.S.