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Treasury Says PPP Loan Forgiveness Coming Soon

PYMNTS

29) it would soon begin forgiving loans granted under the PPP after borrowers and lenders complained that the Small Business Administration (SBA), the program’s manager, and Treasury employees have failed to respond to forgiveness requests, according to The Wall Street Journal (WSJ). Department of Treasury said Tuesday (Sept.

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Deutsche Bank, PNC Plan To Reduce Brick-And-Mortar Bank Branch Footprints

PYMNTS

The financial institution said per the report that it would shutter approximately 100 locations throughout the nation, which would shrink its domestic offices to roughly 400. The company has opened a minimum of 13 “solutions centers” in places such as Nashville, Tennessee and Dallas that provide an alternative to the usual bank office.

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Instacart Raises $271M On $7.8B Valuation

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hedge fund Tiger Global Management and existing investors Coatue Management and Valiant Capital. Grocery delivery startup Instacart raised an extra $271 million in November, bringing its latest round of funding to $871 million. A source told Reuters that the additional funding comes from investors, including U.S.

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The Recency Trap and Building Deposit Balances

South State Correspondent

One of the lessons that was driven home at the recent American Banker Small Business Banking Conference in Nashville was the difference in marketing between large national banks and community banks, particularly deposit marketing. There is a reason for this.

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5 New Year’s Resolutions For Any Sized Bank That You Must Get Right in 2023

South State Correspondent

Popular projects for 2023 include online loan and deposit onboarding utilizing third-party data to speed the process, compliance-as-a-service, payments, card controls, service case management, leveraging data for customer insights, and providing open banking APIs to customers. Sectors like office, retail, and hospitality, are even worse.

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10 Lessons From The Small Business Banking Conference

South State Correspondent

Recently, the American Banker hosted their annual Small Business Banking Conference in Nashville, and as always, it was one of the better banking conferences of the year. After the seventh-month mark, conversion rates sharply decline. Strike early and often to keep the customer building their relationship with your bank.

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Car Vending Machine Company Carvana Goes Up Against Wall Street

PYMNTS

For example, as reported by Forbes, auditor Grant Thornton wrote that “management believes” it can meet its financial obligations through February 2021. Miami is Carvana’s 24th car vending machine location to date — joining Nashville, San Antonio, Houston, Austin, Dallas, Raleigh, Jacksonville, Tampa, Charlotte, Washington, D.C.,

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