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The Fund, anchored by leading investors committed to building better communities, will support banks addressing the racial wealth and income gap CLEVELAND, OH, November 27, 2023 /24-7PressRelease/ -- The Mission Driven Bank Fund, anchored by Microsoft and Truist, announces its first close of over $110 million. The more than 300 FDIC-insured Minority Depository Institutions and Community Development Financial Institution banks across the country are essential to expand access to financial services in unbanked and underbanked communities. The

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Funding underscores shift toward open banking and the demand for seamless core integration and innovation Investors represent 200 community financial institutions PortX forms Credit Union Service Organization (CUSO) Seattle (Sep. 27, 2023) – PortX, a leader in integration and open banking for community financial institutions and fintechs, announced today the successful close of its Series B funding round, securing $16.5 million, co-led by FUSE, a Pacific Northwest-based venture capital firm, and Curql, a collective of

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"Several large and tech-forward community banks have joined as founding members of the Btech Consortium, and we have strong interest from others,” adds Fred Cummings. “We also have smaller tech-forward bank members with less legacy technology, making it potentially easier to transition to cloud-native platforms. We welcome banks interested in the Consortium to contact us about joining.” Btech Consortium Launches to Advance Community Bank TechnologyConsortium’s mission is to empower community banks and the local communities

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“The FDIC is pleased that Microsoft and Truist have selected managers for the Mission Driven Bank Fund to provide capital investment for Minority Depository Institutions and CDFI banks,” said Betty Rudolph, Director of the Office of Minority and Community Development Banking at the FDIC. Dec. 15, 2022, Washington – Elizabeth Park Capital Management (Elizabeth Park) and Calvert Impact announced they are teaming up on an investment fund to invest in mission-driven U.S. banks. The Mission Driven Bank

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Community and private banks have a tremendous opportunity to update their technology and improve their competitive standing. By combining your localized focus with agile technology adoption, you can position yourself as a trusted partner in the digital era, serving your customers’ evolving needs while maintaining a community-centric approach. By: Mike Sekits Managing Director of the Btech Consortium Fund. Btech Consortium invests in technology companies serving the banking sector. It’s no secret that the banking industry is experiencing a

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While it’s possible to research and identify low-code platform providers independently, connecting with banks that have already started that process is an efficient way to accelerate learning. Community bank consortiums and other community banking organizations are great places to learn about the different providers, compare service offerings and even combine resources to support emerging, low-tech providers. By: Mike Sekits Managing Director of the Btech Consortium Fund. Btech Consortium invests in technology companies serving the banking sector. Advancements

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ChatGPT, DALL•E 2, Stable Diffusion, and other artificial intelligence products have captured imaginations over the past year by generating striking images never before drawn and writing stories never before read. A parallel renaissance has taken over fraud control. Banks and credit unions for years have employed AI to reduce fraud, and they are increasingly doing so today. A recent survey by the identity security company Alloy found that 59% of financial service companies are looking to invest in machine

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With smaller budgets and a shortage of tech talent, community banks often struggle to adopt new technology and launch innovative products. A new partnership between banks, a venture capital firm and an asset manager provides insights into tech trends and facilitates collaboration between smaller banks and fintechs. By Craig Guillot Because of legacy core systems, manual loan processes and poor digital account opening applications, many community financial institutions lag in offering a modern banking experience.

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24/7/365 payment capability. Increasingly it’s important to move money quickly, efficiently and accurately. The ability to offer payment specialization is an excellent way for banks to gather deposits and provide their customers with a competitive advantage.

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The Closing Exchange announced today it has integrated its signing services with Black Knight’s suite of closing solutions, including Expedite Close and DocVerify, to enable trained and vetted notaries the ability to execute signings via Remote Online Notarizations (RON).

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