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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). Cross River Bank has partnered with a range of FinTech startups since its 2008 launch, including collaborations with Stripe , Coinbase and Affirm , reports said.

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Reacting Quickly to SVB Fallout, Mercury Launches Vault, with $5M FDIC Deposit Insurance

Fintech Labs Insights

Within days of the fall of Silicon Valley Bank, challenger small-business banking provider Mercury , was in market with a timely solution to deposit insurance stress. So even if there is a failure at Mercury’s bank partner (Evolve or Choice), there would be no deposit losses or even major inconvenience ( see note 1 ).

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Robinhood Retreats From Checking, Savings Products

PYMNTS

According to a report in Bloomberg , when Robinhood announced the products last week , it compared them to traditional bank accounts, boasting a 3 percent interest rate on both checking and savings. The executives told Bloomberg they are working with regulators and are in the process of overhauling the marketing material related to it.

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The Death of the Community Bank

Jeff For Banks

A mid-2020 survey performed by Cornerstone Advisors showed that 51% of retail customers that opened a new bank account within the last three months did so at a large, national bank. Eighteen percent of that group opened an account at a digital bank. Two percent opened an account at a community bank.

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Discovering Financial Growth: Making Smart Investments with Union Bank

Ublocal

Welcome to Union Bank’s exciting journey into the world of investments! Through our UB2Go digital banking platform , we’re introducing an easy-to-use digital investment app. Let’s delve into why the stock market is a great place for your money to grow.

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Top U.S. Online Digital Bank Savings & Treasury Accounts for Small Business (SMB)

Fintech Labs Insights

Are we about to see a rush of fintech startups serving the interest-sensitive small business market? But what we will see is the challenger banks dusting off their sweep features and emphasizing them in their marketing and branding. Online Digital Banks for Small Businesses (SMB) April 2023 The post Top U.S.

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Acquire or Be Acquired 2024: A Race to Perform … and Earn the Right to Transform 

Gonzobanker

We can’t sleep on non-bank competition, bigger banks controlling even greater market share, or big tech and embedded finance. Since banks with less than $10 billion in assets continue to struggle in deposit gathering, scale and overall earnings, we wonder how many will not be here in five years? Five Hundred? (Oh