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Report Shows US Small Towns Lost 14 Pct Of Banks Between 2012-17

PYMNTS

Financial institutions have been abandoning American smaller towns in striking numbers over the past decade, presenting a significant economic challenge in the communities they serve, according to a report from Bloomberg. More than 1,500 bank branches shuttered between 2012 and 2017, according to a recent Federal Reserve report.

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FinTech Plaid Teams With Banking Platform Jack Henry

PYMNTS

Our partnership with Jack Henry helps us bring Plaid Exchange to hundreds of regional and community banks, and helps ensure millions of people can access digital finance apps and services no matter where they choose to bank, invest and manage their money,” Karvounis added.

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Banking-As-A-Service Takes On The Underbanked SMB

PYMNTS

At the same time, bank branch closures appear to be accelerating, with small towns across the country losing a combined 14 percent of their banks between 2012 and 2017. “I think it would be foolish to expect that small community banks and credit unions can afford to keep up with that market,” said Coghlan.

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JPMC CFO To Run Consumer Lending Business

PYMNTS

Piepszak has been with the company for 25 years, serving in a number of senior roles in the corporate and investment banking business, as well as the consumer and community banking division. Lake has served as CFO of JPMorgan since 2012.

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nCino Inks Agreement to Acquire DocFox

Finovate

The company has more than 450 customers on three continents, most recently partnering with Pennsylvania-based Customers Bank, a super-community bank with more than $20 billion in assets. DocFox also announced late last year that its account opening solution was now part of Fiserv’s AppMarket.

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Banks Keep SMB Lending Gains Rolling

PYMNTS

Regional and community banks also saw their small business loan approval rates increase, with small banks approving 49.8 According to Biz2Credit, this is the highest approval rate for small banks since November 2014. percent approval rating in March of 2012, Biz2Credit noted.

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Half Of Payments Executives Are Focused On Peer-To-Peer (P2P) Payments

PYMNTS

According to a report, the new group of banks to now support Apple Pay include American Eagle Financial Credit Union, Central Virginia Federal Credit Union and Community Bank & Trust of Florida, among others. banks by assets have made 81 deals with FinTech companies since 2012 — and more than $4 billion in funding.

P2P 57