Technology should provide advantages to every user — bank employees, advisors and clients. Technology is flexible, which enables the incorporation of traditional options like paper quarterly reports. It can enhance the relationship with an advisor but is unlikely to completely replace it, and that’s where Sawtooth comes in. [Continue]
LenderClose, a fintech startup based in Des Moines, Iowa, is developing new ways for banks to close deals, particularly in the mortgage market. BankBeat talked to its CEO Omar Jordan about the young company’s take on crossing the finish line. [Continue]
During its first quarter earnings call, executives from Farmer Mac told investors that the financing environment in 2019 has been stable and has exceeded expectations despite trouble in many parts of the ag sector. [Continue]
Invest Sou Sou is a company leveraging tech to create and maintain “lending circles.” This is something of a new twist on an old concept of community-based lending. BankBeat spoke with the company’s co-founder and CEO, Fonta Gilliam, about her career and what lending circles can accomplish. [Continue]
In May, the House Financial Services Committee approved the COUNTER Act to modernize and reform the Bank Secrecy Act. The bipartisan bill (H.R. 2514) sets out to curb money laundering and illicit financial activities. It awaits a vote on the House floor. [Continue]
At the end of 2018, Green Bay, Wis.-based Associated Bank announced it would acquire 32 Wisconsin branches of Huntington National Bank, Columbus, Ohio. That group of offices holds $850 million in deposits and $134 million in loans, lending considerable oomph to Associated’s Wisconsin footprint. [Continue]
Jo Ann Barefoot has been doing a lot of globetrotting lately. Since being named the first female Deputy Comptroller of the Currency in 1978, Barefoot launched a career in the private sector and describes herself as a “serial entrepreneur.” She is currently CEO of Barefoot Innovation Group, something of a think tank for financial technology, regulatory reform and the future of banking. [Continue]
Shield Compliance, Seattle, has developed a compliance management system for banking legal marijuana-related businesses. Called Shield Data Hub, the technology sets out to assure compliance with Financial Crimes Enforcement Network guidelines for cannabis banking. Tony Repanich joined Shield Compliance as its COO in 2018. He previously served as executive vice president of the $1.7 billion People’s Bank, Bellingham, Wash. [Continue]
MK Decision is a tech company on the rise. Founded in 2015, the San Diego-based company offers an online loan application and security platform designed to help community banks compete. BankBeat talked to CEO Har Rai Khalsa about the company’s approach to online lending and its new partnership, launched in February, with Bankers’ Bank, Madison, Wis. [Continue]
The secure movement of delicate customer information has long been a concern for banks, but never more so than in the age of massive data breaches and numerous cyber threats. [Continue]