Traditional financial institutions still have an advantage over challenger banks when it comes to building relationships with small merchants, despite scandals that have befallen megabanks.
The New York unit of Popular has contracted with Biz2Credit to automate commercial loan approvals and handle the underwriting for applications under $100,000.
Wells Fargo puts two top execs on leave as scandal's reach grows; regional banks freed from SIFI label lobbying regulators hard for more relief; FDIC to launch innovation office to help banks compete with fintechs; and more from this week's most-read stories.
The $380-billion asset company will soon join the parade of big banks and tech companies that are migrating online to meet the demands of business owners.
Netspend customers kept from accessing paychecks; Sen. Elizabeth Warren rebukes Comerica over fraud in benefits program; FDIC poised to revamp deposit rules (about time, say banks); and more from this week's most-read stories.
The San Antonio bank will refer customers seeking small-business loans to StreetShares, a financial startup that is similarly focused on serving veterans of the U.S. military.
The tech giants might be moving into small-business lending, but they’re more likely to take business away from large commercial lenders, not community institutions.
