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Capital One Permanently Exits Mortgage and Home Equity Business

Bank Innovation

No more Capital One mortgages. The Virginia-based bank announced an abrupt, and permanent, closure of its mortgage and home equity origination business this week, citing that the sector was too competitive for the bank to turn a profit. Capital One first acquired its mortgage division in 2009.

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Capital One Treasury Head: AI and ML Driving Customer Experience Improvements

Bank Innovation

Phil Beck, Head of Treasury Management at Capital One, is almost a year into his job at the McLean, Virginia-based bank, where his focus has been getting commercial banking up to speed with the digital economy.

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Cedar Raises $102M For Medical Billing

PYMNTS

Cedar, a provider of technology focused on fostering smooth financial interactions between healthcare providers and patients, announced $102 million in new venture capital funding and a new business relationship with a provider network on Monday (June 22). In addition to $77 million in venture capital from the Menlo Park, Calif.-based

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How Finfit is building out its financial toolkit for hourly and other workers

Bank Innovation

The field of fintech companies focusing on people who live paycheck to paycheck continues to grow, with Virginia Beach-based Finfit picking up $7 million in Series B equity funding on Friday. Galaxy Investments and Bison Investments participated in the round.

Virginia 186
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Software Procurement Plays Favorites With B2B Investors

PYMNTS

However, it was a B2B software procurement platform that raised the most money — $55 million — in this week’s B2B venture capital roundup. Energy Innovation Capital and Chevron Technology Ventures led the funding, while R/GA Ventures and Macquarie Capital also came on board as new investors.

Software 190
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Best Banking Books To Create The Modern Banker

South State Correspondent

These books span a range of banking topics but emphasize second-order thinking, productivity, building client relationships, and innovation. Elizabeth is the Chairwoman of First Bank in Virginia and provides a formula for writing notes to clients, prospects, and employees to create an emotional connection.

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Airbnb Challenger WhyHotel Scores $20M For Luxury Room Rentals

PYMNTS

The funding round was led by Harbert Growth Partners, with other participants including Highland Capital Partners, Camber Creek, Working Lab Capital, Geolo Capital, Revolution’s Rise of the Rest Seed Fund and former Bain Capital Partners MD Mark Nunnelly all participated in the round.

Arlington 130