The pandemic has helped to accelerate a number of changes in financial services as banks have been forced to shift...
Cross River Bank is leveraging its fintech customers to grow its payment transaction services; the firm has digital lending partnerships with 17 companies and is the issuing lender for some of the industry's top marketplace platforms; the firm's business relationships have helped to expand its payments system customers with many of its customers naturally migrating to Cross River Bank's payments system; the firm's CEO Gilles Gades says its payments activity could double next year with help from existing relationships with Stripe and Google Wallet providing access to Mastercard Send; in payments, Cross River currently manages approximately 2 million transactions per month and it sees a substantial opportunity for gaining more market share; industry participants are also watching Cross River Bank's plans for developing a newly branded bank called Almond Bank, which it has recently been investing in. Source
Happy New Year everyone. As I do every year at this time I make a few predictions for the year...
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[Editor’s note: This is a guest post from Stephen Sheinbaum, Founder of Bizfi, an aggregation marketplace that offers many kinds...
In their semi annual report published this week, the OCC singled out financial innovation and rapid developments in fintech as...
PwC has released a global report on fintech; says financial institutions across the world could lose 24% of their revenues to financial technology companies over the next three to five years; among other statistics, the report also finds that 82% of respondents plan to increase partnerships with fintech firms over the next three to five years to manage new innovation and market competition. Source
According to a new survey by LightStream 75 percent of respondents plan to pursue a home improvement project in 2020...
The FDIC sent a letter to banks outlining problems they see with the current way vendor contracts are done; the...
Working with fintechs has been a lengthy process for most banks with timing lasting about 12 to 18 months on...
Citizens Bank has entered into a partnership with Fundation to extend capital to small businesses; Citizens Bank will offer a digital solution so small businesses can apply and get a loan through one process; businesses who don't meet Citizens' credit profile will then be underwritten by Fundation; this is the second fintech partnership for Citizens Bank as they recently entered into a partnership with digital wealth management service SigFig. Source