Banking

Banks, Alt Funders Continue to Compete for Small Business

February 13, 2018
Article by:

banks, alternative funders

This story appeared in deBanked’s Jan/Feb 2018 magazine issue. To receive copies in print, SUBSCRIBE FREE The alternative small-business finance industry owes its very existence to banks’ reluctance to lend money to mom-and-pop shopkeepers, tradespeople and restauranteurs, but bankers’ tight fists may be loosening. Small-business owners are reporting better results when they apply for bank […]

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Liberty Lending Partners With MetaBank

January 28, 2018
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MetaBank

Headquarters of MetaBank Corporate Services in Sioux Falls. Photo Credit Online lender, Liberty Lending has partnered with MetaBank, a wholly-owned subsidiary of Meta Financial Group, Inc., the latter announced on Thursday. During the three-year agreement, the federally chartered MetaBank will provide personal loans to Liberty Lending customers. Both entities will market the initiative. According to […]

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StrategyCorps: The ‘Amazon Prime Effect’ Could Significantly Alter Personal Banking

January 26, 2018
Article by:

mobile banking

FinTech and mobile content has done more than provide exposure to alternative lenders and financing avenues. “It’s rewiring the way that we think,” Dave DeFazio, a partner at StrategyCorps told deBanked while discussing mobile devices. StrategyCorps helps financial institutions enhance their checking account offerings. “We’re addicted to our phones. We’re using them more than ever. […]

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BB&T Taps $50M for Cutting Edge Tech Investments

January 22, 2018
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BB&T

BB&T in Lexington, NC – Photo credit: Dennis Brown. License BB&T has earmarked $50M for a deep dive into “emerging digital technology,” the company announced last week. The bank will look to either invest in, or acquire companies in the space. “The sizable investment” is meant to improve the customer-experience for BB&T’s client base while […]

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Standard Chartered Names New Global Leader of Transaction Banking

January 17, 2018
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standard chartered

Lisa Robins has been appointed as global head of transaction banking at Standard Chartered, the company announced on Wednesday. A 38-year veteran of international business, Robins joins the Standard Chartered team from Deutsche Bank, where she had served since 2011. Before this tenure, she spent 23 years with JP Morgan Chase. “For more than a […]

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Tech Banks: Will Fintech Dethrone Traditional Banking?

August 20, 2017
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Will Fintech Dethrone Banking?

This article is from deBanked’s July/August 2017 magazine issue. To receive copies in print, SUBSCRIBE FREE On Halloween, 2014, a largely unknown, Boston-based financial institution, First Trade Union Bank, embraced high-technology, went paperless, and officially adopted a new name: Radius Bank. In reinventing itself, Radius did more than dump its dowdy moniker. It shuttered five […]

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Loans to a Business Not Paying Their Payroll Taxes Results in the Banker Being Convicted

July 29, 2017
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Arrested

Here’s a chilling situation that lenders, factors and MCA funders working with merchants who are behind on their taxes might want to take note of. On June 27th, Douglas Corriher, a bank VP, was hit with a 32-count superseding indictment over a factoring fraud conspiracy with a staffing company in North Carolina. Despite the dozens […]

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Becoming a Bank – Varo Articulates the Leap from Fintech to Banking

July 26, 2017
Article by:

Colin Walsh Varo

Above: Colin Walsh, CEO and Co-founder, Varo Money Varo Money wants to become Varo Bank. The completely mobile-app driven fintech startup already lets customers juggle financial tasks with the touch of a button but now they want to make it official. Varo has applied for a full national bank charter with the bank’s headquarters in […]

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SmartBiz Loans Expands Its Footprint With a NorCal Bank

April 25, 2017
Article by:

bank

Technology-based lending platform SmartBiz Loans, which is dedicated to facilitating SBA loans, has expanded its bank roster. SmartBiz announced today a new partnership with Sacramento-based Five Star Bank, bringing the tally of the number of banks on the startup’s platform to five and thrusting marketplace lending into the spotlight once again. Five Star already delivers […]

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Dear Fintech, The OCC Wants to Welcome You to The Family

March 16, 2017
Article by:

banks

Congratulations fintech, you did it. The OCC wants fintech companies who are interested and meet the criteria, to apply for a Special Purpose National Bank (SPNB) charter if they so choose, according to a licensing manual published by the agency. “Providing a path for fintech companies to become national banks can make the financial system […]

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