Remove Community Remove Florida Remove Operations Remove Technology
article thumbnail

A digital-first bank for south Florida

Independent Banker

Banking veteran Keith Costello cofounded Locality Bank, where he serves as president and CEO, to champion for south Florida small businesses financially affected by the pandemic. After looking at the consolidation in our market, we concluded that the lack of community banks was the reason.”. Keith Costello, Locality Bank.

Florida 91
article thumbnail

$175M Acquisition Turns Community Bank Into Fintech Player

Bank Innovation

Community banks can also play the fintech game. — was acquired by Flagship, a Florida-based community bank, for $175 million. “We BankMobile — the digital bank, formerly a division of Customers Bancorp Inc. We are an independent bank,” said Luvleen Sidhu, BankMobile’s co-founder, regarding the acquisition. “We

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

These Are Your Most Profitable Cash Management Clients

South State Correspondent

The value driver in cash management is that it is usually some sort of operating account at the bank. As such, operating accounts have low-interest rate sensitivity. We have also included the IBIS World 2024 risk ratings to provide some context for the credit and operating risk of the counterparty.

article thumbnail

Kroger Building New Automated Warehouse Facility

PYMNTS

The $55 million center, expected to become operational in 2021, will measure up to 375,000 square feet and is expected to generate up to 400 new jobs. Kroger is excited to enter Florida to redefine the customer experience through our industry-leading partnership with Ocado,” said Rodney McMullen, Kroger’s chairman and CEO.

Florida 129
article thumbnail

How Financial Institutions Focus on Customers Is Key

Abrigo

The community bank model is built around customer service, but for many bank and credit union customers, the definition of “good service” has been changing over the last couple of decades. Direct Banking Satisfaction Study found that direct banks, or branchless banks that operate online, earned a higher satisfaction score among U.S.

article thumbnail

Branching Out: Physical Locations Boost CUs' Digital Plans

PYMNTS

The pandemic has cost more than 300,000 lives in the United States alone, and it has also challenged many institutions — such as credit unions (CUs) — that were never designed to operate on a primarily remote basis. Canada’s largest community credit union has announced that it is expanding its commercial network.

article thumbnail

NEW REPORT: Post-Hurricane, CUs Provide Some Calm After The Storm

PYMNTS

Credit unions (CUs) might operate as nonprofits, but just like a traditional bank or any other for-profit business, they still need customers — or in this case, members — to thrive. Thankfully, at least one CU is turning to the alternatives: artificial intelligence (AI) and machine learning (ML) technologies. About The Tracker .

Detroit 122