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Community Bank & Trust Leverages ValidiFI to Verify Bank Account Information

Finovate

Community Bank & Trust selected ValidiFI to help verify bank account ownership and possession for prospective borrowers. Community Bank & Trust will leverage ValidiFI’s vAuth to verify bank account status and account ownership and possession for its Tax Refund Advance loan program.

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Today In Data: Driving Contactless Adoption With Community Banks

PYMNTS

Community banks could put more contactless cards into the hands of consumers with the help of the Independent Community Bankers of America (ICBA). And the demand for faster payments is strong in the U.S., Data: $255B: The value of faster payments in the United States at the end of 2018.

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Open Banking Expands Into SMB Lending, Smaller Banks

PYMNTS

Among the new features is an open application programming interface (API) designed to address the variety of formats that FIs use to provide payment data. “My guess is, if you went to 100 community banks, maybe five would know how to describe open banking ,” he said. Yes Bank Woes See API Disruption.

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Real-Time Payments Are Reaching A Tipping Point

PYMNTS

But this has been the domain of larger financial institutions, especially when community banks and credit unions are included. Last month, payment company PayFi and The Clearing House (TCH) partnered to bring real-time payment technologies to community banks. This is shifting, though.

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Cross River Bank On The Case For Direct RTP® Integration

PYMNTS

Instant payment systems have been launching in countries around the world as financial institutions (FIs), governments and various payment organizations seek to introduce technologies that can sate businesses’ demands for more streamlined exchanges of money with plenty of payments data.

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Merchant Processing Explained: What Happens Behind the Swipe?

Evolve Payment

Although it might seem like a small piece of the puzzle, gateways ensure your customer’s data gets processed correctly and securely by encrypting, tokenizing, and converting payment data into a format your payment processor understands. The issuing bank gets its name because it issued the credit card to your customer.

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How New Entrepreneurs Usher Open Banking Into SMB FinServ

PYMNTS

Last year, JPMorgan Chase announced an initiative to open new bank branches in an effort to better address small businesses’ needs, sparking a conversation about what effect bank branch closures actually have on small businesses — and whether entrepreneurs even want physical bank locations at all.