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Digital IDs Help Open Banking Reach Its Fullest Potential

PYMNTS

As financial institutions (FIs) work with FinTechs, they need to know that these tech-nimble startups are not only enabling access to customers’ account data but also in a manner that embraces KYC and AML. The end goal: to speed innovation toward new products and services while keeping fraudsters out. Regulation Vs. Market Forces.

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State Regulation, Conference of State Bank Supervisors, Financial Services, FinTech, Charles Clark, Washington State Department of Financial Institutions, License, Regulation, Bank of Indonesia, FinTech, Bitcoin, Cryptocurrency, News

PYMNTS

Through the Conference of State Bank Supervisors, Georgia, Illinois, Kansas, Massachusetts, Texas, Tennessee and Washington are looking to standardize the ways firms across traditional financial services and FinTech upstarts apply for, and are granted, licenses. As was widely reported this past week, seven of them are trying to do so.

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Figure CEO: Figure Pay, National Bank Charter Will Boost Financial Inclusion

PYMNTS

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.

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Scottsdale Community Bank: Making microloans

Independent Banker

“[Small businesses] need a place that will listen to their financial needs and to their dreams of being independent, having financial security, contributing to the community and providing resources for their families.” William Atkinson is a writer in Illinois.

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Retail banking trends to look out for in 2023

Independent Banker

ITMs and VTMs are popular retail banking innovations among community banks. We have seen an increase in mobile and digital usage, like other banks,” Hancock says, “but these initiatives have helped expand that engagement from balance inquiries and funds transfers to more complex needs like money management and managing debit card security. “In

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The top-performing community banks of 2021

Independent Banker

Cumberland Security Bank, Inc. First Security Bank of Deer Lodge. A: We have been fortunate to develop deep partnerships with some great fintechs. Reynolds points to BankSouth’s focus on innovation as a contributing factor. I don’t pass an opportunity to make a pitch for innovative ideas,” Reynolds says.

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ICBA’s 2021 National Community Bank Service Award winners

Independent Banker

ICBA’s National Community Bank Service Award winners for 2021 demonstrate that when their local areas need support, community banks are there with innovative, compassionate and thoughtful responses. Independent Banker named it one of the most innovative community banks because of its technology-forward attitude. Kennebec Savings Bank.