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Why community banks are partnering with fintech startups

Bank Innovation

As big banks try to win over customers with digital upgrades that resemble slick user interfaces from fintech startups, community banks are looking at new ways to keep pace with customer expectations. Radius Bank, a one-branch Boston-based community bank with $1.2 Many are seeing partnerships as the path to growth.

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How Spend Tools Feed Food Banks’ Need For Accountability

PYMNTS

These organizations face increased demand during the holidays — when they deliver food to communities in need. Among the nonprofits working to feed local communities this holiday season is the The Greater Boston Food Bank (GBFB) , which provides food services to 190 cities and towns in the eastern Massachusetts region.

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Whole Foods’ 500th Store Features Eateries

PYMNTS

Whole Foods Market South Region President Bobby Turner said, according to the outlet, “Whole Foods Market Midtown will be a true gathering space for the community.” The store is also set to host social, health and wellness and culinary community events.

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Top News In Payments: Bank Closings Hit Rural Areas; Kaspersky Highlights Rise Of Fake Notifications

PYMNTS

Bank Branch Closings Take Toll On Rural Communities. Rural communities with lower incomes or a higher percentage of minorities experienced the most closings, losing 1,553 bank branches in 794 counties, a decline of 14 percent. Urban areas, however, lost only 9 percent of offices in 802 communities.

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Boston banks Berkshire, Brookline to merge in $1.1 billion deal

American Banker

The combination would create a Northeast regional bank with nearly $24 billion of assets. It would rank as the eighth-largest bank in the Boston metropolitan area by deposit market share.

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The Case For Localizing Mom-And-Pop Investment

PYMNTS

Exploring the importance of the small business through the lens of its immediate community is a critical component of promoting education among entrepreneurs. According to Mathews, MainVest aims to encourage local investors to invest in businesses of their own community. This is beneficial in more ways than one, he noted.

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Efficiency now: 8 smart strategy tips

Independent Banker

Fallout from recent global events presents an obstacle to generating revenue for community banks. Since COVID-19, profitability planning for community banks has mainly hinged on how the government was coping with the pandemic and the key role financial institutions played in keeping the economy afloat. By Elizabeth Judd.

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