This Fintech Partnership Could Serve as Template for Small Banks
This article from the American Banker examines the partnership between New Resource Bank in San Francisco and a fintech firm, which aims to reach underserved small-business clients. New Resource, which agreed to sell itself to Amalgamated Bank in New York in December, is delving into an area — working with fintech — that has largely been the domain of larger financial institutions. In doing so, New Resource is taking part in an arrangement that industry observers view as unique given the bank's size. The partnership is enticing for banks looking to grow their C&I portfolios. "I think there's definitely room for niche players," said Ian Benton, a senior digital banking and payments analyst with Javelin Strategy & Research. "That's why bank partnerships make so much sense."