Neobanks have gained momentum with the promise of helping consumers shift their financial lives fully online — with digital onboarding, speedier account openings and competitive rates on deposits and other offerings — in direct competition with traditional omnichannel financial institutions (FIs). Those same attributes are...
The legal battle over the implementation of the Corporate Transparency Act and its beneficial ownership reporting requirements is now taking place in the Supreme Court. The court is considering an application filed by the Department of Justice on behalf of the Financial Crimes Enforcement Network...
Small and mid-sized businesses (SMBs) are considering a switch from national banks to local financial institutions (FIs) like community banks and credit unions (CUs). While the convenience of national banks has traditionally been a strong draw, factors such as personalized service, lower fees, and better...
The Centre for Finance, Innovation and Technology (CFIT) said Tuesday (Jan. 7) that Mastercard and Lloyds Bank agreed to partner with it and fund its new industry-led coalition that will develop solutions to help the United Kingdom’s 5.6 million small businesses raise external finance. The...
Small- to medium-sized businesses (SMBs) must balance customer demand and seamless operation. “It’s important that businesses make sure they’ve got the right technology in place to ensure that their front-end checkout experiences, as well as their back-end processes, are operating as efficiently and as effectively...
Main Street has been getting a digital makeover in recent years, and small to medium-sized businesses (SMBs) are among the biggest beneficiaries. This crucial commercial cohort has faced challenges — ranging from navigating the aftermath of a global pandemic to managing persistent economic uncertainty. Yet...
After announcing an “abrupt” shutdown of its online bookkeeping and tax filing platform on Friday (Dec. 27), Bench Accounting said Monday (Dec. 30) that it is being acquired by Employer.com. “Your service will continue seamlessly with the platform you’ve always trusted,” Bench said in an announcement on the home page...
Thryv added new reporting capabilities to its small business software platform. The new Thryv Reporting Center provides key business metrics in a visual format and can be accessed on mobile devices, the company said in a Friday (Dec. 27) press release. The reporting capabilities offer...
Embedded lending is already reshaping how consumers and smaller businesses access credit through its convenience and flexibility. Lenders recognize the transformative potential, but they also recognize implementation challenges that could get in the way. Consumers are turning to embedded lending more for essential expenses like...