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Community Bank Acquires SMB Digital Bank Seed

PYMNTS

Community financial institution (FI) Cross River Bank is acquiring Seed , a small business (SMB) digital banking company, reports in Reuters said on Monday (June 24). Seed members will be migrated to Cross River as the community bank expands with new offices in California and Oregon.

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Why community banks should partner with fintechs

Independent Banker

With consumer expectations seeming to evolve faster every year, community banks could consider partnering with a fintech to keep up with technological innovation. of bankers are either strongly interested in or already working with fintechs in digital account opening. Matt Gallman, Drummond Community Bank.

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$175M Acquisition Turns Community Bank Into Fintech Player

Bank Innovation

Community banks can also play the fintech game. BankMobile — the digital bank, formerly a division of Customers Bancorp Inc. — was acquired by Flagship, a Florida-based community bank, for $175 million. “We We are no longer a partner or a division of […].

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Increasing Digital Banking Options Put Pressure On Big Lenders To Adapt

PYMNTS

We’re a mobile app, and that’s how we deliver our services.”. Of course, the pandemic has forced banks – like all businesses – to rethink their priorities and make adjustments to how they interface with customers. billion people – will likely be using online and mobile banking services by 2024.

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MOXY Preps Launch Of New Community Bank With NYMBUS

PYMNTS

MOXY bank , preparing to be one of the first new community banks to launch in the U.S. in decades, has announced that it is working with technology solutions company NYMBUS to integrate its core digital banking and payment services.

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New Trends Redefining the Role of Community Banks

Independent Banker

The banking industry remains in flux. 2021 introduced new challenges for traditional banks, from the added competition of digital-only entrants to shifting consumer banking behaviors and lingering fallout from the ongoing COVID-19 pandemic.

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The Impact of Mobile Card Apps On FI Customer Retention

PYMNTS

The trend toward digitization in consumers’ lives isn’t new, but COVID-19 has accelerated it dramatically over the past several months. Deposits had already been trending away from community banks and credit unions anyway, but COVID-19 has accelerated that shift. FinTech players are also grabbing deposits. Square announced $1.3

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