Gather Federal Credit Union has selected credit underwriting platform Zest AI to reduce fraudulent activity during the loan origination and decisioning process. AI-driven Zest Protect can help financial…
Read more Transactions: FIs invest in credit decision platforms | Bank Automation NewsU.S. Bank is developing AI-driven solutions for its business clients, with its latest efforts targeting the launch of an AI-driven cash-forecasting tool. Major financial institutions like Bank of…
Read more U.S. Bank readies AI-driven cash forecasting tool | Bank Automation NewsSmall-business formation is booming. So are opportunities for fintechs targeting financial institutions that bank these entities to break into the business verification space. Know-your-business, or KYB, refers to…
Read more Banks, fintechs tackle the complexity of KYB with AI and other techU.S. Bank is looking to fintechs to provide back-office management for its small-business clients. The $669 billion bank listens to feedback from business clients to understand what they…
Read more U.S. Bank’s SMB fintech strategy | Bank Automation NewsU.S. Bank is working on AI-driven solutions for its small and medium-sized business clients to improve their operations. “By no means is it as easy as just deploying…
Read more U.S. Bank deploying AI for SMBs | Bank Automation NewsIsabel Guzman, administrator of the Small Business Administration, speaks during a National Small Business Week event in the Rose Garden of the White House in May. She has…
Read more SBA’s newly licensed nonbank lenders will focus on growthBank of America has made 1,000 loans totaling $394.2 million through the Small Business Administration 7(a) program so far in fiscal 2023. It is aiming to increase that…
Read more Big banks like Bank of America and TD capitalize on SBA loan growthThe Jefferson Avenue commercial district in Buffalo, New York, is anchored by a supermarket. There are dozens of other businesses and services along the 12-block corridor — a…
Read more Redlining to remediation“It is clear [SBA] Administrator [Isabela Casillas] Guzman (pictured) is dedicated to the notion of spurring lending to underserved communities, and people of color,” an SBA loan servicer…
Read more Lawmakers urge SBA to delay new rules that could let fintechs into 7(a)Vestwell, a digital recordkeeper for 401(k)s and savings plans, has forged a partnership with JPMorgan Chase. JPMorgan Asset Management will be using Vestwell‘s technology to run its Everyday…
Read more JPMorgan chooses Vestwell’s tech for small-business 401(k) servicesOpinions expressed by Entrepreneur contributors are their own. If you’re reading this, you’ve probably come across some of the recent turmoil within the United States banking system. Most…
Read more America’s Multi-Trillion Dollar Banking Problem | EntrepreneurBusinesses that want to safely stash sums of cash above Federal Deposit Insurance Corp. limits have options that don’t involve juggling multiple accounts at multiple banks. They can…
Read more Fintechs tout ways to invest business clients’ cash above FDIC limitsTexas National Bank has been strategizing how to tackle social issues in the Rio Grande Valley. One example is its no-fee small-dollar loan, built with bank and credit…
Read more Community bank, loan marketplace pilot transaction-based underwritingThe Paycheck Protection Program opened for business on April 3, 2020. Not long after, the Small Business Administration’s E-Tran loan processing program crashed. SBA approved about 52,000 loans…
Read more ‘Looking into an abyss’: For many lenders, PPP still a source of prideOpinions expressed by Entrepreneur contributors are their own. Even if you’ve raised a lot of money for your startup and have plenty of cash in your bank account,…
Read more How to Choose a Credit Card for Your Startup | EntrepreneurIllinois financial regulators argue that three legislative proposals introduced this month are necessary to protect consumers and small-business borrowers from unscrupulous companies.John Zich/Bloomberg Financial regulators in Illinois have…
Read more Illinois officials unveil proposals to widen regulatory powersOpinions expressed by Entrepreneur contributors are their own. When you’re establishing your startup, it can be a challenge to choose the right bank and the right business checking…
Read more Do You Need a Business Checking Account for Your Startup? It Depends.
