Gone are the days Software Companies like Square, QuickBooks, and Shopify are moving into financial services—allowing small businesses to borrow and offer financing to customers.
Source: Lend Academy
On the heels of the House Financial Services Committee hearing on “The Decline of Minority Depository Institutions and the Impact on Underserved Communities,” the Fed may be able help black banks grow by purchasing loans and securities form them to fund a liquidity pool.
Source: Black Enterprise
A study by Babson College’s Center for Women’s Entrepreneurial Leadership (CWEL) and Bank of America Private Bank found that market misconceptions, network exclusion, and lack of funding are the 3 biggest challenges faced by women-owned businesses.
The alliance with ODX will enable Investors’ small business customers to complete an online application in minutes using desktop or mobile devices and, if approved, receive funding from Investors in as little as one business day.
Source: ABL Advisor
OceanFirst created a proprietary Certified Digital Banker training program, which prepares employees to educate customers on the use of OceanFirst’s digital banking tools, as well as third-party payment solutions such as Venmo and Apple Pay.
Source: ABA Banking Journal