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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.

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Paytronix Picks Payments Industry Veteran Porter For Board

PYMNTS

Founded in 2005, the FinTech AffiniPay now processes over $6 billion annually on behalf of 150,000 professionals, according to a news release announcing the appointment. Porter nabbed the 2016 EY Entrepreneur of the Year Award in the Financial Technology category for the Central Texas region. For its part, Newton, Mass.-based

Industry 130
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EU Bankers Weigh Risks, Rewards of CBDC – and Cash’s Staying Power

PYMNTS

The ECB commentary, we contend, solidifies at least some regional approaches to CBDCs, but retail use cases may be gaining favor. He said that a wholesale CBDC, “restricted to a limited group of financial counterparties, would be largely business as usual.”.

Boston 227
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SEC Charges Founder Of Mozido With Defrauding Investors

PYMNTS

The Securities and Exchange Commission (SEC) announced news on Monday (April 2) that it charged Michael Liberty, the founder of Mozido , the FinTech startup, with scamming investors out of their money.

Boston 126
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How Spend Tools Feed Food Banks’ Need For Accountability

PYMNTS

based FinTech, recently added a new corporate card to its portfolio of solutions. Among the nonprofits working to feed local communities this holiday season is the The Greater Boston Food Bank (GBFB) , which provides food services to 190 cities and towns in the eastern Massachusetts region. Yordex , a U.K.-based

Tools 141
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Barclays Supports Circle Social Payments App

PYMNTS

This marks a milestone for this digital currency company, which has rapidly been making a name for itself in the FinTech ecosystem in the region. Circle is a Boston-based startup that has major VC backers, along with big banks like Goldman Sachs and Digital Currency Group as an investment firm backer.

Payments 100
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Corporate Banks Need Radical Tech Shift, Say Analysts

PYMNTS

Traditional financial institutions have been forced to look inward as they continue to face competition from alternative lenders and FinTech providers. The weakest performers fell below the returns hurdle rate across regions and across segments, the report noted. ” Positive Developments, New Opportunities.

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