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The Future of Noninterest Income at Financial Institutions

Abrigo

Capital One and Fifth Third Bank have launched programs to give customers early access to direct deposits, up to two days. A recent study by the Cleveland Fed noted that traditionally, noninterest income is only 30% to 40% of small banks’ operating revenue, compared with over half of large banks’ revenue. Whitepaper. Learn More.

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Car Vending Machine Company Carvana Goes Up Against Wall Street

PYMNTS

This belief is based on “the Company’s operating plan, that current working capital and expected continued inventory and capital expenditure financing is sufficient to fund operations and satisfy the Company’s obligations.”. Ontario (L.A.), Oklahoma City, and Memphis. It is only part of a stepped-up marketing effort.

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Community banks most likely to approve small business loans

Abrigo

The 2014 Small Business Credit Survey was a joint operation conducted by the Federal Reserve Banks of New York, Atlanta, Cleveland and Philadelphia. Firms seeking credit had varying purposes for doing so, but among the most popular were expanding their business, funding day-to-day operations and replacing capital assets.

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SMEs Severely Dissatisfied With eLending Experience – Fed

PYMNTS

But Federal Reserve Bank of Cleveland senior policy analyst Ann Marie Wiersch told Forbes in an interview that bank lending to small businesses is still struggling. According to the Fed, 80 percent of SMEs that sought funding in 2015 received it, a 15 percent increase from 2014 levels.

Cleveland 100
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ORACLE: Swinging the Bat in Cloud Services

Celent Banking

" For the largest banks like Capital One that have significant IT development capabilities in-house and with the willingness to experiment with new technologies, AWS makes a lot of sense. Most banks, however, are not Capital One. " and have moved onto the more interesting question " How cloud? "

Chicago 100
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Beyond Amazon Go: The Technologies And Players Shaping Cashier-Less Retail

CB Insights

Clients can view the full list of 150+ cashier-free retail operators here. Some historians date its existence to over 2,000 years ago: texts from ancient Greece describe a coin-operated machine for dispensing holy water in temples. Today, Amazon operates four Amazon Go stores: 3 in Seattle and 1 in Chicago. Companies to watch.

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This Week In Insurance Tech: Gojek Rolls Out Online Insurance, Blockchain-Enabled Insurance Tests, AXA Partners with ClassPass

CB Insights

Goodcover , a San Francisco-based insurtech, raised a $2M seed round led by Fuel Capital. Proformex , a Cleveland-based life insurance policy management platform, raised $500K from undisclosed investors as indicated in its Form D filing. The company has raised $7M in total disclosed funding to date. AXA simplifies geographic footprint.