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Transactions: Eastern Bank selects Backbase for digital account opening

BankInovation

$24B Eastern Bank selects Backbase Boston-based Eastern Bank announced last week that it has partnered with digital banking platform provider Backbase to provide enhanced digital account opening for consumer and commercial customers.

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Stimulus Relief: Less Spending, More Saving

PYMNTS

And in those cases, Jonathan Parker, an economist at the Massachusetts Institute of Technology, told the Boston Globe , the attempt was pretty successful. According to data from digital bank Current on early stimulus receivers, about 45 percent of the funds have been spent, and food was the preferred spending category.

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The Finanser’s Week: 17th July – 23rd July 2017

Chris Skinner

The pedestrian replies: “oh, if you want to get there, I wouldn’t start from here”, and this is exactly how … DenizBank, Turkey … the visible bank One of the presentations I particularly enjoyed at the EFMA meeting was from Gürhan Çam, Senior Vice President- Digital Banking at DenizBank, Turkey.

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FinTech LendingClub Buys Radius Bank For $185M

PYMNTS

Radius is based in Boston and has in the neighborhood of $1.4 The bank is one of a few smaller lenders that has teamed up with FinTechs who need services only an FDIC-regulated institution can provide. FinTech LendingClub is purchasing Radius Bancorp for $185 million in cash and stock, according to a report by CNBC. billion in assets.

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How Spend Tools Feed Food Banks’ Need For Accountability

PYMNTS

Tide , a digital banking solutions provider, issued several updates intended to help SMBs use optical character recognition (OCR) to automatically match receipts with individual transactions. Yordex offers virtual cards as well, which can be used to manage online business expenses, such as recurring subscription charges.

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Bank of America To Update Branches In Response To Customer Behavior

PYMNTS

David Tyrie, head of consumer advanced solutions and digital banking, said that by 2021 Bank of America’s branches and ATMs will cover upwards of 90 percent of the population in the United States. . It said it was going to open branches in Boston, Washington, D.C., The bank has about 5,000 branches all over the country.

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Merchants Ready For Open Banking — And Its New Laws — To Impact US Rollout

PYMNTS

In its March 2020 brief “Developments in Open Banking and APIs: Where Does the U.S. the Federal Reserve Bank of Boston said, “To date, U.S. regulators acknowledge that although there is a market and demand for open banking, the current regulatory structure prioritizes consumer protection.”.

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