While traditional banks continue to collaborate with FinTechs and facilitate data integrations to strengthen their product offerings for small- to medium-sized businesses (SMBs), more FinTechs are taking the lead with open banking to strengthen their own value propositions. This week’s open banking roundup includes Equifax,...
The Federal Reserve is looking toward a time-worn source to help with bailing out many smaller businesses and individuals as they enlist smaller regional and local banks for the job. One such bank is New Jersey-based OceansFirst, with its 118-year-old history and assets numbering $10.2...
There is good news, and there is bad news with regards to the path to addressing the unbanked and underbanked in the United States. The good news is that the size of the U.S. underbanked population appears to be on the decline, with the Federal...
To service Main Street businesses, it’s an obvious advantage for a financial institution to actually be on Main Street. For community banks and credit unions, their physical proximity to the small businesses they’re servicing is often pointed out as a major advantage these smaller players...
July 25, 2017
For value, the Federal Reserve estimates that a college grad will make about $830,000 over the course of a lifetime; the Georgetown University Center for Education and the Workforce estimates the value at around a cool million. A big payout to be sure, but one that requires a significant upfront investment of time and treasure. […]
October 25, 2018
The Federal Deposit Insurance Corporation (FDIC) is setting up an office of innovation to encourage banks to adopt financial technology changes. FDIC Chairman Jelena McWilliams made the announcement at an American Bankers Association conference in New York, revealing that federal bank regulators need to encourage financial institutions (FIs) to innovate. “We have created the regulatory […]
March 10, 2017
In the continuing faceoff between the Trump administration and the Consumer Financial Protection Bureau (CFPB), the American Banker stated that President Donald Trump “deeply impressed” a group of community bankers...
June 24, 2015
The FinTech shift has disrupted nearly every angle of the financial industry — from the major lenders to the small banks. But it’s also created a set of unique partnerships...
