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S&P: US banks relying less on big-box stores to house branch locations

Bank Innovation

The growth of mobile and digital banking is driving in-store branch numbers down. In-store branches are satellite bank branches located inside large retail spaces, such as supermarkets or chains like Walmart and Safeway. since June 30, 2019, and 6.5% since June 30, 2018, S&P Global Market Intelligence reported.?

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Varo, with $241M Series D, plans to become a bank this summer 

BankInovation

The mobile banking startup announced a $241 million Series D today and expects to have a bank charter sometime this summer. “We We have the FDIC approval, and we’re going through the final examination […]. Varo Money is in the “last leg of the race” in getting a banking charter, according to founder and CEO Colin Walsh.

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