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Why community banks are partnering with fintech startups

Bank Innovation

Radius Bank, a one-branch Boston-based community bank with $1.2 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. Many are seeing partnerships as the path to growth.

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Paytronix Picks Payments Industry Veteran Porter For Board

PYMNTS

Paytronix clearly delivers value to the market by enabling operators to drive incremental sales and deliver safer environments for staff and guests.”. Porter nabbed the 2016 EY Entrepreneur of the Year Award in the Financial Technology category for the Central Texas region.

Industry 130
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How Spend Tools Feed Food Banks’ Need For Accountability

PYMNTS

Recent data indicated that 82 percent of SMBs shutter in their first year because of poor cash management operations. As SMBs seek opportunities to expand their operations, and reach new customers and markets, they will need the right spend and workforce tools to ensure funds are spent appropriately.

Tools 141
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Digitization Could Halt Corporate Banks’ Shrinking Profits, Analysts Say

PYMNTS

The Boston Consulting Group (BCG) has released a new report that suggests corporate bankers may be able to halt shrinking profits through digital transformation. The trend is even worse among Western European FIs, with shrinking profits prevalent among 57 percent of institutions in this region, reports said.

Boston 109
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State Street Agrees To Pay $35M To Settle SEC Charges

PYMNTS

Levenson, director of the SEC’s Boston regional office, the department which investigated the overcharges. Firms that run trading platforms cannot mislead subscribers about their order handling operations,” said Kathryn A.

Boston 101
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SEC Charges Founder Of Mozido With Defrauding Investors

PYMNTS

“As alleged in our complaint, these investments were sold as a chance to get in early with a seemingly promising FinTech company,” said Paul Levenson, director of the SEC’s Boston Regional Office, in a press release announcing the charges.

Boston 126
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Today In Payments: Facebook Closes $5.7B Deal For Stake In Reliance Jio; GM Shutters Its Car-Sharing Platform

PYMNTS

billion deal on Tuesday (April 21) for a minority stake in Indian telecom startup Reliance Jio, giving the social media giant a larger foothold in the region. Maven had already began winding down the number of cities in which it operated, shutting down in major markets like Boston, Chicago and New York City.