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5 New Year’s Resolutions For Any Sized Bank That You Must Get Right in 2023

South State Correspondent

Because many banks are now producing below their cost of capital, growth further exacerbates their issues and drives them out of business (likely through a sale) faster. Without the windfall of profit accrued to banks in 2022 because of faster-than-expected rate increases, banks will need to be better allocators of capital.

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Belk Works On Building Its New Legacy

PYMNTS

Small and regional — outside of the Southeastern United States, most people haven’t heard of it. About a year and a half after the chain was sold off to a private equity group, Charlotte-based Belk is opening up new stores, though less well-performing ones are being shuttered. It’s growing.

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Passport Raises $8 Million in Series B

Fintech Labs Insights

The Series B round was led by MK Capital, and featured participation from Grotech Ventures and Relevance Capital. Passport CEO Bob Youakim said that the capital infusion would help speed the company’s growth and expansion both in the U.S. The new investment takes Passport’s total funding to $17 million.

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Top 5 Total Return to Shareholders: #3 ESB Financial Corporation

Jeff For Banks

Neither supported this regional president''s opinion. Part of the secret sauce may be management longevity, as most senior managers, including CEO Charlotte Zuschlag, have been with ESB for 20 years or more. This blog has dug deep into the numbers to support the notion that bigger is better.

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APIs Help FIs Keep Pace With B2B Clients’ Faster Payment Needs

PYMNTS

Strong market demand is even compelling banks to adopt such practices in regions where open banking is not legally required. The benefits of APIs for instant payments [are] huge,” said Charlotte Hausemer, vice president of innovation and product management for trade and treasury solutions at BNP Paribas.

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Lessons From The Failed Chatbot Revolution — And 5 Industries Where The Tech Is Making A Comeback

CB Insights

Personal finance: Using chatbots to help people manage their spending. Slack launched its own $80M chatbot fund, partnering with leading VCs including Spark Capital, Index Ventures, Accel, KPCB, Social Capital, and Andreessen Horowitz. Managing money is a complex undertaking. Table of Contents. Get the full report.