PYMNTS

JANUARY 13, 2021

FDIC) and the Treasury Department have reportedly launched an inquiry into American Express Co. FDIC) and the Treasury Department have reportedly launched an inquiry into American Express Co. Anecdotally, small businesses' credit card debt could be on the rise as more business owners turn to cards to keep their businesses afloat.

Cards 167

Cards Apple FDIC Samsung 167

Payments Source

DECEMBER 20, 2018

The Office of the Comptroller of the Currency has gotten the ball rolling for financial technology firms trying to operate a national platform, but the FDIC and Federal Reserve should act to remove other policy roadblocks.

FDIC 62

FDIC Regulation Fintech Policies 62

Cisco

JULY 12, 2022

Regulatory requirements are a key operational concern that we hear about from our financial customers. As a key provider of technology for mission-critical financial system infrastructures across the globe, Cisco is held to the highest levels of scrutiny in the financial services regulatory audit chain. In the U.S.

Regulation 71

Regulation FDIC System Software 71

PYMNTS

NOVEMBER 9, 2020

percent in 2019, its lowest rate in a decade since the FDIC first began tracking this statistic in 2009. Another FDIC report found that 31 percent of American consumers are now using peer-to-peer (P2P) mobile wallet apps, for example. This represents a noted reversal from trends of the past decade.

Tools 203

Tools Mobile FDIC Examples 203

PYMNTS

AUGUST 16, 2019

Axos Bank parent company Axos Financial has rolled out out commercial banking operations across new markets in the U.S., ” Last month Axos announced a partnership with Europe’s digital-only bank N26 in a deal that will allow N26 to launch operations in the U.S. and offer clients FDIC-insured accounts.

Los Angeles 101

Los Angeles New York FDIC Lending 101

PYMNTS

JANUARY 24, 2019

In a statement, Fundation CEO Sam Graziano said the company’s technology targets speed for small business borrowers. ” The company pointed to analysis from the FDIC , whose 2018 Small Business Lending Survey found that only a few banks in the U.S. are able to accept a small business loan application online. .”

California 122

California Lending FDIC Online 122

Independent Banker

JULY 31, 2022

While many banks are utilizing technology and trying to be innovative, they are doing so on an existing legacy structure that is too expensive, painful and ingrained in their culture to change.”. His career has focused on aligning technology and banking services. Keith Costello, Locality Bank. “We

Florida 91

Florida Community Bank Community FDIC 91

CFPB Monitor

SEPTEMBER 14, 2021

It follows the publication at the end of last month of a guide by the Fed, OCC, and FDIC that is intended to assist community banks in conducting due diligence when considering relationships with fintechs. account opening) and the bank continues to interact directly with its customers.

Fintech 78

Fintech Community Bank Community FDIC 78

PYMNTS

AUGUST 28, 2019

The banking platform is designed for mobile devices and API connectivity, with NorthOne noting that development partner Treasury Prime designed that API technology to streamline account opening and management. Last year, the Canada-based company raised $2 million from investors Peter Graham, Tom Williams and Ferst Capital Partners.

Mobile 144

Mobile FDIC Tools Taxes 144

Abrigo

JULY 10, 2023

As we harness the power of AI to enhance operational efficiency, detect patterns, and optimize decision-making processes, financial institutions must remain vigilant. An example of a rising AI fraud scheme is using voice-to-text technology, such as Microsoft’s new Vall-E Text-to-Speech System.

Fraud 150

Fraud How To social media Security 150

PYMNTS

OCTOBER 22, 2019

announced that it is partnering with Evolve Bank & Trust , an FDIC-insured financial services organization, to offer a full suite of customizable credit, debit, prepaid and DDA products. Founded in 1925, Evolve Bank & Trust operates retail branches throughout the mid-south and mortgage production offices nationwide.

Fintech 100

Fintech FDIC ATM Cards 100

PYMNTS

APRIL 2, 2019

in decades, has announced that it is working with technology solutions company NYMBUS to integrate its core digital banking and payment services. Following approval by the Federal Deposit Insurance Corporation (FDIC) and Washington, D.C.’s MOXY bank , preparing to be one of the first new community banks to launch in the U.S.

Community Bank 117

Community Bank Community FDIC Washington 117

Independent Banker

NOVEMBER 21, 2021

includes (from left): Christina Johantgen (head of marketing and creative), Joe York (head of product), Kelsey Cahill (summer associate), Jackie Charron (chief operating officer and executive vice president), Debbie Morin (chief financial officer), and CEO Charley Cummings. The team at Walden Mutual, a planned de novo in Concord, N.H.,

Community 170

Community New Hampshire New York Millennials 170

Jeff For Banks

DECEMBER 10, 2023

Although one might argue that First Citizens BancShares of Raleigh is a SIFI as it climbed to the 19th largest in the country with its Silicon Valley Bridge Bank acquisition from the FDIC, and that the FDIC designated SVB as systemically important. Nasdaq: TBBK) Here is this year's list: #1. M&F Bancorp, Inc. The Bancorp, Inc.

Fresno 103

Fresno North Carolina Raleigh FDIC 103

PYMNTS

SEPTEMBER 30, 2020

House committee this week began reviewing the idea of allowing the likes of Amazon or Facebook to receive charters to operate as banks — an idea that’s already gotten plenty of pushback from traditional financial institutions (FIs). FDIC), the states and the courts.

Regulation 349

Regulation National System Industry 349

Abrigo

JULY 20, 2021

From leveraging PPP technology to building relationships, reasons for boosting SBA lending are numerous. . Many financial institutions implemented or upgraded technology to help them offer PPP loans during the pandemic. Looking to Increase SBA Loan Origination? Want other articles like this on SBA loan origination in your inbox?

Lending 195

Lending FDIC Capital Risk Management 195

Abrigo

JULY 20, 2021

From leveraging PPP technology to building relationships, reasons for boosting SBA lending are numerous. . Many financial institutions implemented or upgraded technology to help them offer PPP loans during the pandemic. Looking to Increase Loans through the SBA? Would you like others articles like this in your inbox?

Lending 195

Lending FDIC Capital Risk Management 195

PYMNTS

NOVEMBER 23, 2017

22) report by American Banker , New York Venture Bank, which will be headquartered in New York, needs the nod of the Office of the Comptroller of the Currency (OCC) before it can launch operations. FDIC), the news report noted the new bank will begin with $100 million in capital. According to a Wednesday (Nov.

New York 100

New York National FDIC Lending 100

PYMNTS

OCTOBER 31, 2016

The OCC, according to WSJ , noted the compromise hasn’t “adversely affected” the agency’s internal operations. The House Committee on Science, Space and Technology, one of the congressional panels notified of the breach, said it is monitoring the OCC’s response to the incident, the paper reported.

Data 100

Data FDIC Policies Report 100

PYMNTS

NOVEMBER 23, 2020

While many digital-first companies springboard from payments into lending, Figure Technologies , a FinTech focused on home improvement, debt consolidation and retirement products that leverage blockchain protocols, is branching out from lending into payments. Blockchain and a bank charter might do much to boost financial inclusion.

National 215

National blockchain Montana Lending 215

Abrigo

SEPTEMBER 16, 2019

Is the current period a good time to expand your operations? How do you expect your bank’s capital expenditures on facilities or operations to change over the next 12 months? The survey for the inaugural index included 512 FDIC banks responding from early in the second quarter through July 5. Asset/Liability. Credit Risk.

Community Bank 150

Community Bank Community Policies Survey 150

Gonzobanker

MAY 4, 2020

As the industry’s appetite for digital technology grows, the capital that’s been flowing into mostly digital-focused fintech is solving real industry challenges right now. And businesses that deferred moving online or had no reason to operate online have made the leap practically overnight.”. customer impact.

Fintech 109

Fintech FDIC Capital Community Bank 109

PYMNTS

JULY 21, 2019

The South Dakota Trust Charter allows companies to operate on a national level so you can serve clients from every state. And surprisingly, South Dakota is one of the largest holders of institutional assets in the country, more than $3 trillion, according to the FDIC — three times the size of New York, followed only by Ohio.”.

South Dakota 134

South Dakota Bitcoin cryptocurrency Ohio 134

PYMNTS

JULY 16, 2019

Among the latest examples, N26 , which is a digital-only bank based in Europe, has entered the US market through partnership with Axos Bank in order to offer FDIC insured accounts. In the continued linkups between banks and FinTech upstarts, new markets beckon across various borders.

Digital Banking 101

Digital Banking US FDIC Cards 101

PYMNTS

AUGUST 7, 2019

For FinTechs like Wise, working with traditional FIs means being able to “focus on adding value to small businesses, rather than reinventing the core-banking wheel,” Thyagarajan said, adding that the bank-FinTech strategy offers the “best of both worlds … next-gen business banking built on top FDIC-insured banking services.”.

Fintech 181

Fintech Strategy Resources Payments 181

Abrigo

MAY 5, 2022

Banking Transformed Banking Transformed by the Financial Brand’s Jim Marous has new episodes several times a month and features executives from financial institutions, financial technology firms, authors, consultants, and other experts in the banking industry.

Community 195

Community Lending Maine Resources 195

PYMNTS

DECEMBER 23, 2020

The company offers FDIC-insured bank accounts and a Visa -branded payment cards for teens (aged 13-18) with budgeting features and other financial education tools built in. Behind the scenes, we built a bunch of technology and whatnot. … More than a half-million users signed on within the first six weeks of operation.

Fintech 322

Fintech Cards FDIC Lending 322

Abrigo

NOVEMBER 9, 2022

How has CECL implementation impacted their operations and reserves for credit losses? CECL's impact on operations. Technology can ease pressure on staffing and internal resources, a category identified by 42% of respondents as one of their biggest challenges so far. Technology adoption: The “people” side of change.

Survey 195

Survey Software Resources Meeting 195

Independent Banker

MARCH 31, 2022

based banks, fintechs and more, sits on top of a payments rail operated by Payrailz, a digital payments company based in Glastonbury, Conn. Moreover, payments are withdrawn from the user’s FDIC-insured checking account and are protected by multiple layers of security, which prevents fraudster access.

Community Bank 91

Community Bank Community Payments Meeting 91

PYMNTS

NOVEMBER 1, 2018

And that is a bank – one with FDIC insurance and safeguards that keep their money safe. Consider a recent PYMNTS interview with Gerhard Oosthuizen, chief technology officer for Entersekt , a South Africa-based FinTech firm that focuses on mobile authentication and app security software. 93 percent had a bank account.

Fintech 191

Fintech UX Mobile FDIC 191

PYMNTS

OCTOBER 7, 2019

According to figures projected in a report by Wells Fargo , banking could slash over 200,000 human jobs in favor of handing them off to technology. It’s been a rocky 25-year marriage for banking and technology, but it’s finally getting on course,” he noted. Rent the Runway’s Temporary Shutdown . The delays, which began Sept.

Data 116

Data Apple FDIC Report 116

CFPB Monitor

APRIL 1, 2021

In what could be an important step towards needed regulatory updating to accommodate the growing use of artificial intelligence (AI) by financial institutions, the CFPB, FDIC, OCC, Federal Reserve Board, and NCUA issued a request for information (RFI) regarding financial institutions’ use of AI, including machine learning (ML).

Risk Management 78

Risk Management Training Lending FDIC 78

Jeff For Banks

MARCH 5, 2021

Knowing this, very large financial institutions operate branches where they can have greater scale to drive greater profitability, which frequently excludes LMI neighborhoods, creating what is termed "bank deserts." The operating cost is largely attributable to the distribution through the branch network and regulation.

Regulation 78

Regulation Indiana Charlotte Community Bank 78

Jeff For Banks

OCTOBER 9, 2016

The sheer number strategic initiatives and technologies in the banking industry make it very difficult to predict outcomes with any certainty. Technology expenditures will grow faster than overall expenditures. Surprisingly, it represented only 4% of total operating expense. Not that me or other industry pundits don’t try.

FDIC 60

FDIC Trends Operations Examples 60

PYMNTS

OCTOBER 30, 2019

Rho Technologies is introducing Rho Business Banking, using APIs to integrate with an array of back-office platforms like QuickBooks, Xero and Slack for streamlined data integration and financial analytics. The company operates a suite of APIs for financial institutions and FinTechs to connect data and power customer-facing products.

Lending 102

Lending Fintech America Data 102

CFPB Monitor

SEPTEMBER 9, 2020

1831d(a) (“Section 27(a)”), which governs the interest charges of state-chartered FDIC-insured banks. Although the FDIC recently issued a Madden -fix (valid-when-made) rule that reaches the same results under the FDIA as does the OCC’s Madden -fix rule, the FDIC has not proposed a companion “true lender’ rule.

FDIC 78

FDIC National South Dakota Lending 78

Independent Banker

SEPTEMBER 25, 2014

Grovetta Gardineer, a deputy comptroller for the Office of the Comptroller of the Currency, points out that community banks are best placed to understand their own individual risk tolerances and overall operational complexity. If your structure is working in a safe and sound manner, we wouldn’t ask to realign or redevelop it,” Gardineer says.

Community Bank 70

Community Bank Compliance Risk Management Community 70