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Community Banks Aim To Amplify Competitive Edge With FinTechs

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Community banks approved 49 percent of SMB loan applications in November, according to the latest data from the Biz2Credit Small Business Lending Index. Here, again, lies another opportunity for community banks to fill the void. INTRUST Bank recently announced it is also taking part in the trend of collaborating with FinTechs.

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Branching Out: Physical Locations Boost CUs' Digital Plans

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Petersburg, Florida-based CUSO said its Enhanced Fraud Services initiative has already helped 10 credit unions combat fraud, including chargebacks stemming from instances of members’ payment card details being stolen and sold on the dark web. Canada’s largest community credit union has announced that it is expanding its commercial network.

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Tech Center: Orlando Dips Its Toes Into Tech Startup Water

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The city had a population of 270,934 in 2015, making it the 73rd largest city in the United States and the fourth largest in Florida. When thinking about Orlando’s tech industry, some say the city’s access to capital, accelerator programs and tech clusters are what sets it apart. Median household income (2015): $42,318.

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A Decade On, Lending Transformed By Crisis And Innovation

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The rise of FinTech offers a bit of a prism through which to view those events. The door is open, then, and has been, for FinTech in lending, where inroads have been made in, say, mortgages (like Lending Tree and Rocket Mortgage, for example). The trigger for the look back has of course has been the Sept. Behind the Numbers .

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SBA Turns Attention To Credit Unions To Revive Small Biz Lending

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The global financial crisis in 2008 was, in many ways, a catalyst to this innovation, especially in the area of small business (SMB) finance, as banks pulled their services away from SMBs and FinTechs stepped in to offer another option. author of the report and Florida Atlantic University’s Kaye Family Endowed Professor in Finance.

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Bank-FinTech Collaboration Tackles SMB Finance Friction

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Bank-FinTech collaboration continues to thrive as more financial service providers place small- to medium-sized businesses (SMBs) front-and-center of product development. In a statement , HSBC Bank USA Head of Retail Business Banking Shaun McDougall said fueling the SMB community is important to support the broader U.S.

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First New Community Bank In Decades Headed To US Market

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is set to see its first new community bank in decades, as the Federal Deposit Insurance Corporation (FDIC) lent its approval for MOXY Bank to launch in Washington, D.C. With clearance to move forward with its plans, the community banking landscape will see its first new industry player in years. have emerged to do.