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Here is The Math Behind the High-Yield Account

South State Correspondent

There have been many a banker who has said they want to offer a high-yield account because the “higher interest expense is just like paying marketing costs.” However, the majority of customers require a referral, a marketing effort and a sales effort to bring them in the door. Not bad, but not great.

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Digital Car Insurer Metromile To Go Public Through Merger With INSU II

PYMNTS

The combined company, to be led by Metromile CEO Dan Preston , will have a pro forma market capitalization of approximately $1.3 Investors Social Capital, Hudson Structured Capital Management, Miller Value, Clearbridge and Mark Cuban have committed to investing $160 million through a private placement of INSU II Class A common shares.

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Community Banks Debut FinTech Alliance

PYMNTS

The group, to be known as Alloy Labs Alliance, according to a press release , is being managed by FinTech Forge. Arizona, which launched a “sandbox” earlier this year, said last week that there is a new participant in that FinTech-driven initiative. Here In The States.

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Robinhood's Newest Funding Round Grows To $660M

PYMNTS

Trading FinTech Robinhood Markets Inc. We've raised an additional $460 million in subsequent closings to our Series G to support our core product and customer experience and new offerings like cash management and recurring investments,” the representative noted.

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Eclipse Acquisition Brings Payment Alliance Int’l 15K More ATMs

PYMNTS

ATM portfolio management tools and services firm Payment Alliance International (PAI) has acquired Arizona-based ATM operator Eclipse Cash Systems for an undisclosed sum. PAI provides scale, as well as industry-leading portfolio management tools for our market partners. PAI has had a busy summer.

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Delivering A Secure Seamless Banking Experience In The Age Of COVID-19

PYMNTS

One such player is Arizona Federal Credit Union (Arizona FCU), which is working to offer improved access to its 130,000 member-owners. But once the account is opened, mostly likely that 16-year-old will move to the mobile channel to manage the account.”.

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Market Commentary: Week of July 13, 2020

SWBC's LenderHub

What Happened: Despite worsening COVID news, stocks—particularly tech stocks—managed to explode higher for the week with the NASDAQ hitting another all-time high on Friday. Nationwide, daily COVID cases rose to 60,000 per day with Texas, Florida, Arizona, and California leading the way.