article thumbnail

Why community banks are partnering with fintech startups

Bank Innovation

As big banks try to win over customers with digital upgrades that resemble slick user interfaces from fintech startups, community banks are looking at new ways to keep pace with customer expectations. Radius Bank, a one-branch Boston-based community bank with $1.2 Many are seeing partnerships as the path to growth.

article thumbnail

POS Toast Cuts Staff In Half As More Restaurants Close

PYMNTS

Restaurant point-of-sale (POS) software provider Toast said it would have to cut about half of its staff — about 1,300 people — as the coronavirus shutters businesses nationwide, according to a CNBC report on Tuesday (April 7). Based in Boston, Toast provides POS technology that helps eateries maneuver from dine-in to takeout.

Boston 213
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Amazon Sidewalk Eyes IoT Beyond The Connected Home

PYMNTS

The movement toward stitching smart homes together to form “smart neighborhoods” hints at connectivity that extends beyond individual consumers to entire communities. Using Sidewalk won’t require new hardware, as the system is available as a software update to Echo and Ring products.

Boston 210
article thumbnail

Funding Round Could Give AvidXchange $2B Valuation

PYMNTS

Founded in 2000 by CEO Michael Praeger, the Charlotte, North Carolina-based firm provides software that automates payments, invoicing and accounting for small and mid-sized businesses (SMBs). percent through 2028, according to Boston Consulting Group. Nashville community bank Studio Bank was the first FI to adopt the AvidPay solution.

article thumbnail

How Spend Tools Feed Food Banks’ Need For Accountability

PYMNTS

This demand is driving the global expense management software market to reach $6.6 These organizations face increased demand during the holidays — when they deliver food to communities in need. billion in value by 2025. The mission of some nonprofits is to ensure that those in need have access to warm, nutritious meals.

Tools 141
article thumbnail

Top News In Payments: Bank Closings Hit Rural Areas; Kaspersky Highlights Rise Of Fake Notifications

PYMNTS

Bank Branch Closings Take Toll On Rural Communities. Rural communities with lower incomes or a higher percentage of minorities experienced the most closings, losing 1,553 bank branches in 794 counties, a decline of 14 percent. Urban areas, however, lost only 9 percent of offices in 802 communities.

article thumbnail

Function Over Flash

Independent Banker

Certain mobile functions and features are essential to the success of a community bank’s mobile banking offerings. Newfangled mobile capabilities could help community banks stand apart from their competitors. Share of community banks and credit unions offering the following mobile banking features and functions: 84%.