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Why community banks are partnering with fintech startups

Bank Innovation

Radius Bank, a one-branch Boston-based community bank with $1.2 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. Many are seeing partnerships as the path to growth.

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How Spend Tools Feed Food Banks’ Need For Accountability

PYMNTS

Recent data indicated that 82 percent of SMBs shutter in their first year because of poor cash management operations. As SMBs seek opportunities to expand their operations, and reach new customers and markets, they will need the right spend and workforce tools to ensure funds are spent appropriately.

Tools 141
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B2B Investors Set Sights On Data, AI, Analytics

PYMNTS

Another B2B startup operating in the data analytics space is Looker, which landed this week’s largest funding round. The new funding will go toward product development and operational expansion, reports said, with Looker aiming to help companies consolidate data across their siloed systems. Wise Systems.

Analytics 176
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Digitization Could Halt Corporate Banks’ Shrinking Profits, Analysts Say

PYMNTS

The Boston Consulting Group (BCG) has released a new report that suggests corporate bankers may be able to halt shrinking profits through digital transformation. The trend is even worse among Western European FIs, with shrinking profits prevalent among 57 percent of institutions in this region, reports said.

Boston 109
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Paytronix Picks Payments Industry Veteran Porter For Board

PYMNTS

Paytronix clearly delivers value to the market by enabling operators to drive incremental sales and deliver safer environments for staff and guests.”. Porter nabbed the 2016 EY Entrepreneur of the Year Award in the Financial Technology category for the Central Texas region.

Industry 130
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SEC Charges Founder Of Mozido With Defrauding Investors

PYMNTS

“As alleged in our complaint, these investments were sold as a chance to get in early with a seemingly promising FinTech company,” said Paul Levenson, director of the SEC’s Boston Regional Office, in a press release announcing the charges.

Boston 126
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Western Union Enables Real-Time Account-To-Account X-Border Payments For Banks, Digital Wallets

PYMNTS

The net result, he noted, is that a consumer who wants to send funds from their bank account in Boston to a mobile wallet in Burundi can do so and know that good funds will be available on the other side within 90 seconds. The recipient gets the money nearly instantly — and we settle with the banks overnight.”.

Payments 205