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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. The economics look something like the below.

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Market Commentary: Week of June 29, 2020

SWBC's LenderHub

Florida, Texas, Arizona, and California dominated the headlines, as it certainly appears that the so-called “First Wave” of the virus has not ended yet. COVID-19 has pounced on some of our largest population centers that began relatively aggressive economic re-opening campaigns in mid to late May.

Marketing 148
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B2B Venture Capital Spans SMB Banking, V-Cards, Global Payments And More

PYMNTS

In total, more than $68 million in venture capital was announced — but that’s not counting the $130 million round for one U.K. Below, find the latest in B2B venture capital funding. million in seed funding, Back Office, based in Florida, plans to enhance the technology behind its small business accounting automation tool.

Capital 139
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Real Estate Startup Opendoor In Talks To Go Public

PYMNTS

Opendoor is in advanced talks with Social Capital Hedosophia Holdings Corp. Led by venture capitalist Chamath Palihapitiya, the founder and CEO of Social Capital II is seeking equity to fund the transaction with prospective investors, sources told Bloomberg. Opendoor and Social Capital II declined to comment to Bloomberg.

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A digital-first bank for south Florida

Independent Banker

Banking veteran Keith Costello cofounded Locality Bank, where he serves as president and CEO, to champion for south Florida small businesses financially affected by the pandemic. After looking at the consolidation in our market, we concluded that the lack of community banks was the reason.”. By Katie Kuehner-Hebert.

Florida 91
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Simon Property Group, Wheels Up Get In On The SPAC Action

PYMNTS

Thus far, the Journal said, citing University of Florida Professor Jay Ritter, SPACs have logged 6 percent gains on the first day of trading so far this year, which outpaces the 1.6 capital markets work hold a significant advantage.” percent average gain logged in trading debuts last year.

Groups 248
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Bank-FinTech Collaboration Tackles SMB Finance Friction

PYMNTS

Highlighting the need to accelerate access to capital for SMBs, HSBC said it is integrating Biz2X within its existing HSBC Fusion offering to speed up credit application approval. We are looking forward to starting operations in this market, bringing our first-class API infrastructure to the region.".

Fintech 247