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Metro Bank Pulls Back On Commercial Lending

PYMNTS

challenger bank Metro Bank, the financial institution is reportedly looking to reduce its corporate loan exposure and wind down commercial lending operations. Metro will look to instead focus on residential property financing as it seeks a new chairman. Following a series of setbacks for U.K. The Times on Sunday (Sept.

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Disrupting The Security Deposit With Insurance

PYMNTS

metros that time can extend to a decade and beyond. The average security deposit in the U.S. And of course averages can be misleading — in Manhattan that rent average is over $4,000 a month, while in Wichita, Kansas (the least expensive market in the survey) rents are still well below $1,000 at $639 a month.

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Popular Bank Implements Branch Realignment in the New York Metro Region to Enhance Focus on Communities and Small Business Support

PopularBank

Popular”) (NASDAQ: BPOP), bank holding company of Popular Bank, today announced Popular Bank’s strategic realignment of its New York Metro branch network. The branch closures, which are expected to be completed simultaneously by January 29, 2021, are projected to reduce annual operating expenses by approximately $13 million.

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CYBG Snubbed For RBS Funds

PYMNTS

.’s Banking Competition Remedies has awarded the first batches of the Royal Bank of Scotland’s $1 billion fund to competing banks in an effort to boost competition in the market, particularly for small to medium-sized business (SMB) services. But the awards are likely to stir up more debate.

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Car Talk: Shift Announces Plans To Go Public

PYMNTS

“We are excited to partner with Shift and its world-class management team as it leverages its technology platform to disrupt the $840+ billion used car market,” said Daniel Cohen, chairman of the board of directors of Insurance Acquisition Corp. Securing that capital is even more complicated than the IAC merger.

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UK SMB Challenger Bank Competition Ramps Up

PYMNTS

challenger bank Tide is closing in on surpassing the market share of competitor The Co-Operative Bank , reports in AltFi said this week, highlighting the traction that new market entrants are gaining. s small business banking market. Tide’s current customer count means it has 1.5 percent of the U.K.’s

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Currencycloud, Iwoca Next To Land RBS Funds

PYMNTS

14) that Atom Bank, Currencycloud, Modulr and Iwoca have secured a portion of the £775m allocated from RBS as a government mandate to support competition in the market. Atom Bank similarly secured £10 million from the grant, announcing plans to hit a £3 billion small business financing milestone by 2024. SmallBusiness.co.uk

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