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Finovate Blog
Tracking fintech, banking & financial services innovations since 1994
In a round led by Warburg Pincus, data-driven personalization and customer engagement solution provider Personeticshas raised $75 million in new funding. The round brings the company’s total funding to $93 million.
“The financial services industry is reaching a tipping point in mobile adoption and setting a new standard in Smart Personalized Engagement,” Personetics CEO and co-founder Davis Sosna explained. “Personetics has set out down this path and has launched its vision of Self-Driving Finance. We are looking to quickly expand our global footprint with new partners and clients, and support our existing customers with innovative business solutions. We are very excited to be partnering with Warburg Pincus on this journey.”
Personetics teams up with banks and other financial institutions to help them better engage their customers, and to make it easier for them to understand and make the financial decisions they need to improve their lives. The company’s automated financial wellness programs help users reach long-term financial goals by leveraging technologies like AI-driven chatbots to provide personalized, relevant, and timely financial advice and recommendations.
A Finovate alum since 2016, Personetics customers include leading global banks such as U.S. Bank in the U.S., RBC in Canada, Metro Bank in the U.K., UOB in Singapore, and MUFG in Japan. More than 95 million bank customers around the world are using solutions and services enhanced by Personetics’ technology; the company claims its customers are recognizing gains of as much as 35% in their mobile app engagement and a 20% increase in customer account and balance growth.
Last fall, the company announced a partnership with Santander UK to leverage AI-driven personalized insights to boost engagement and enhance the customer digital experience. Together, the two firms launched a new digital solution called My Money Manager that offers cash flow analysis, payment reminders, and other personalized financial insights. In August, Personetics teamed up with Israel-based Discount Bank to launch its auto savings solution, Smart Save.
A new year brings a new roster of guests to the Finovate Podcast. Hosted by Finovate VP of Strategy Greg Palmer, the Finovate Podcast showcases the latest in fintech thought leadership, with innovators, analysts, bankers, and entrepreneurs sharing their insights into the future of fintech today.
From the Fintech in Extraordinary Times series documenting fintech’s response to COVID-19 to discussions on future tech and financial inclusion, the Finovate Podcast is a great way to get up to speed on the conversations in fintech that count.
Check out Greg’s guests from 2021 so far. And be sure to catch the show every week.
Raul Rodiguez, Managing Director, Innovation Accelerator, Charles Schwab – Lessons on what it takes to build and foster a culture of innovation at a large-scale financial institution. LinkedIn
Mark Goldberg, Partner, Index Ventures – Data privacy is going to be a massive concern for fintechs and banks in the next few years. Mark Goldberg of Index Ventures shares his thoughts on how privacy will evolve, and what banks and fintechs need to do now to prepare. LinkedIn
Srinivas Njay, Founder and CEO, Interface.ai – Finovate Best of Show winner Interface.ai joins us to talk through turning your call center from a cost center into a revenue generator, and how financial institutions can go about picking the right organizations to partner with. LinkedIn
Bhavin Turakhia, Co-founder and CEO, Zeta – FinovateWest Best of Show winner Zeta Technologies talks about the influence of neobanks and the future of banking. LinkedIn
Jim Van Dyke, CEO, Breach Clarity – FinovateWest Best of Show winner Breach Clarity talks about the aftermath of data breaches, creating individualized responses, and helping consumers safeguard their identities. LinkedIn
In a Series D round led by existing investor Coatue Management, Indian financial services company BharatPe has secured $108 million in new funding. The investment, which also included participation from all of the firm’s current institutional investors, boosts the company’s total to $268 million and gives BharatPe a valuation of $900 million.
The company highlighted that the oversubscribed round in its statement was “one of the fastest round closures for any startup in India.” But the company’s co-founder and CEO Ashneer Grover was quick to underscore what part of the news deserved the most attention. “We, at BharatPe, do not celebrate fund raises – it is akin to procuring raw material. We are super excited though to have returned INR 125 crores of capital to angels and all ESOP holders, earning them one of the highest returns on investment.”
Grover added that the company has experienced 5x growth in its payments business and 10x growth in its lending business in the last 12 months. “This growth reiterates the trust that the small merchants and kirana store owners have showed in us.” He said BharatPe remains committed to the goal of building “India’s largest B2B financial services company” and a “one-stop destination for small merchants.”
Founded in 2018, BharatPe was launched to bring better financing and payments services to Indian SMEs. The company was the first to offer a UPI interoperable QR code, first to offer a ZERO MDR payment acceptance service, and first to provide a UPI payment backed merchant cash advance service. More than five million merchants rely on BharatPe’s platform, which handles an annualized total payment volume of $7 billion.
For this week’s FinovateGlobal Reports, we turn to a 2021 forecast of fintech in the Middle East published by Finextra earlier this month. The report features contributions from a number of sources, including S&P Global, Findexable and its Global Fintech Index, the WEF Global Competitive Report, as well as a 2019 analyst overview published by Clifford Chance, Fintech in the Middle East – Developments Across MENA.
“Fintech continues to transform the delivery of financial services across the region and remains high on the agenda of industry participants and governments seeking to develop and modernize and, for GCC governments, to diversity from natural resources,” the report noted. Among the key takeaways on a region that (according to Accenture) is expected to see its fintech market grow to $2.5 billion in value by 2022 are:
Public and public institutions are helping reinforce a “collaborative approach to fintech.”
Regional leadership in fintech remains seated in the UAE “both in respect of the number of participants and forward-thinking approaches.”
Wariness toward cryptocurrencies and digital assets remains even as some regions, such as Dubai, have begun to “embrace blockchain” technology.
Embedded fintech products into governmental services and banking have improved efficiencies and increased opportunities for fintech innovation.
Cryptocurrencies have dominated the fintech headlines this week- from Mastercardagreeing to allow merchants to accept payments in cryptocurrencies to BNY Mellon’s announcement that it will begin custody of cryptocurrencies.
Today, after bitcoin reached an all-time high of over $48,000, marketing services company Kasasaunveiled plans to help its bank and credit union clients provide bitcoin wallets to their consumers.
The new capabilities will be powered by a partnership with New York Digital Investment Group (NYDIG), a technology and financial services firm dedicated to Bitcoin. The collaboration will help Kasasa’s bank clients stay ahead of the rapidly growing bitcoin adoption.
“Clearly, Bitcoin is here to stay, and consumers are demanding that Bitcoin offerings be made through their trusted financial institutions,” said Kasasa CIO John Waupsh. “With this new partnership, we’re looking across the product and services that Kasasa currently offers, as well as future product and service ideas. With NYDIG we can evaluate new offerings such as a buy-sell-hold wallet while also incorporating Bitcoin into our core rewards business.”
This partnership will be a major selling point for Kasasa, especially as consumer interest in cryptocurrencies rise. According to NYDIG, more than 22% of U.S. adults over the age of 18 own Bitcoin today.
This interest, combined with the creation of formal regulation like the OCC’s recent ruling that banks may use stablecoins for payment facilitation, is bringing cyrptocurrencies into the forefront of banks’ agendas. With today’s partnership, Kasasa is better positioned to help small financial institutions compete with larger players when it comes to cryptocurrencies.
An integration between two of Intuit’s top acquisitions, consumer financial technology platform Credit Karma and TurboTax tax management software, will help put the former’s new U.S. checking account – Credit Karma Money Spend – in the hands of more consumers.
The integration will provide a seamless process for getting refunds to eligible taxpayers when they file their taxes with TurboTax – and then turn those taxpayers into Credit Karma checking accountholders. Filers on TurboTax will have the ability to open a Credit Karma Money Spend account and have their refund sent directly to that new checking account. Users then can access the full Credit Karma Money experience – for example, setting up direct deposit and adding debit cards to their digital wallets – from within TurboTax. The checking account’s Instant Karma feature also encourages users to make payments with their Credit Karma Money Spend accounts by offering monetary rewards for actions like on-time credit card bill payments and automating direct deposits.
“We believe consumers should have a checking account that helps them make financial progress, which is why we created Credit Karma Money Spend,” Credit Karma founder and CEO Kenneth Lin explained. “We’re starting 2021 off by leveraging our relationship with Intuit to bring Credit Karma Money to millions of tax filers this tax season.” Lin referred to tax refunds as “the biggest paychecks” many Americans receive, and added that getting taxpayers the refunds they are owed and helping them put that money to work “(maximizing) their day-to-day spending and billpay” is a critical role the new integration will play.
Acquired by Intuit in a deal just completed in December, Credit Karma is among Finovate’s earliest alums, demonstrating its consumer credit score monitoring platform back in 2008. Now with more than 110 million members in the United States, Canada, and the U.K., Credit Karma offers a wide range of financial wellness solutions for individuals including identity monitoring, credit cards and loan shopping, insurance, high-yield savings accounts and, most recently, its new checking accounts backed by bank partner MVB Bank.
The integration news comes in the wake of a flurry of recent criticism that Credit Karma’s credit scores varied from what users were expecting when engaging with credit card companies or prospective lenders. The differences have since been explained – Credit Karma uses a credit score model, VantageScore 3.0, that not only examines factors other than those traditionally considered for FICO scores, but also can weigh like factors differently. But the issue may reflect a growing trend of popular annoyance with some of the ways fintechs are able to provide the services they do. This “Robinhood Syndrome” is a challenge that is only likely to grow as more customers – with varied expectations and financial sophistication – continue to migrate to fintech platforms.
If you have the WiFi, we’ll bring the content. This month, we’re hosting two FinovateFocus events– Connect and Roundtable. Both events are free to attend and will take place on February 25 from 9 a.m. to 11:45 a.m. Central Standard Time.
Register for these all-digital micro events and you’ll not only have access to great content, but you’ll also have the opportunity to check out the unique format and full roster of discussions and networking.
This month’s discussions will focus on the digital user experience. Now more than ever, your digital user experience is what your customers see; it shapes how they view your organization. Our dive into digital will help inform how you can leverage your UX to increase sales, create happy customers, and increase operational efficiency.
Here’s what to expect at each event:
FinovateFocus Connect
This event maximizes your time by bringing you nine presentations and nine meetings, all within the span of an hour. The platform will alternate between three-minute presentations and three-minute meetings, which are pre-assigned based on common interests.
FinovateFocus Roundtable
This discussion-based event includes your choice of two moderated, 30-minute roundtables with 15 minutes of networking before and after each roundtable conversation. To encourage engagement, each roundtable is limited to eight participants each.
Roundtable discussions for this month’s event include:
Earning customer trust in the digital age
Future of payments –are we turning into a cashless society?
Effective customer acquisition, engagement, and retention – the Experience Age
Boosting CX in banking with AI – conversation banking: exploring back-end technologies
Authentication, biometrics, and digital identity in digitized society
Chatbots, AI, automation as a platform for revolutionizing the CX
Personalization and customization with data in the banking and payments industry
Insights into how to support financial futures for customers in a post-COVID-19 world
Customer Service NOW
Video banking as a preferred means of customer communication
What do customers want – Meeting customer needs
APIs and Open Banking – Putting the customer in the driver’s seat
FinovateFocus starts on February 25. The Connect portion will run from 9 am to 10 am Central time while the Roundtable portion will run from 10:15 am to 10:45 am Central time. Both events are free to attend, so sign up early.
While you’re signing up, check out the deals for FinovateFocus sessions in March, April, May, and June available on the registration page. Sign up for a single event or purchase a bundle package to save.
Here are the topics we have planned for the months ahead:
Data analytics firm Moody’s announced plans to acquire data insights company Cortera this week. Terms of the deal, which is expected to close in the first quarter of this year, are undisclosed.
Moody’s anticipates the purchase will enhance its risk assessment capabilities. The move will also significantly extend Moody’s coverage in the SME market– the segment that serves as Cortera’s focus.
“Cortera plays an important role in helping businesses understand each other,” said President of Moody’s Analytics Stephen Tulenko. “Our customers will be able to leverage Cortera’s extensive information on small businesses with Moody’s proprietary analytic tools to make better decisions.”
Cortera was founded in 1993 and provides credit data and workflow solutions on North America-based public and private organizations. The Florida-based company maintains a database of credit information on more than 36 million businesses across the continent.
Cortera sources this data from thousands of resources and scrubs it using AI. As a result, the company is able to provide analytics, reports, and monitoring services to help inform businesses’ decisions.
Specifically, the acquisition will augment Moody’s Orbis database of private company information and enhance its KYC, commercial lending, and supply chain solutions.
Moody’s was founded in 1900 and provides data, analytical solutions, and insights to help businesses identify opportunities and manage risk. The company employs more than 11,000 people across 40+ countries. Headquartered in New York City, Moody’s is publicly traded on the NYSE under the ticker MCO. The company has a market capitalization of $52 billion.
It may not be the return of Black Wall Street. But from veteran bankers leading their institutions into the digital future to celebrities and athletes, who are leveraging their fame to encourage African Americans to take advantage of digital financial tools, the challenger banking revolution that is sweeping the globe is also creating new opportunities for banking in African American communities.
As part of our Black History Month commemoration, we’re taking a look at three, digital-first neobanks – and another that was a digital pioneer ahead of its peers – that were founded and are run by African Americans. It is especially interesting to see how all of these financial institutions both respond to the financial wellness needs of the individual while also working support African American small businesses.
It should be noted that digital banking customers who want to support black-owned banks also have the option of signing up for the online offerings of the more than 40 brick and mortar black-owned banks in the U.S. that provide digital banking services.
First Boulevard – Headquartered in Overland Park, Kansas, First Boulevard offers “Unapologetic Banking Built for Black America.” In addition to a contactless Visa debit card and P2P payments, First Boulevard also includes programs such as Early Payday, which enables account holders to get paid up to two days early, and rewards program called “Cash Back for Buying Black.” This program gives First Boulevard accountholders up to 5% cash back at participating African-American businesses.
First Boulevard charges no overdraft or monthly fees, and has no minimum balance requirements. The bank’s app features PFM tools that enable users to round up purchases to store away extra savings, as well as provie spending recommendations and real-time insights based on the user’s purchases.
“(First Boulevard’s) mission is to help Black America build wealth,” said CEO Donald Hawkins. Hawkins co-founded First Boulevard along with COO Asya Bradley, who was recently recognized as an “Inspiring FinTech Female” by NYC FinTech Women. “We are thrilled to partner with the leader in digital payments, Visa, and leverage their crypto APIs to provide another channel for the Black community to access crypto as a new asset class that can help build Black wealth,” he said.
Greenwood Financial – Founded by a host of African American notables including Civil Rights leader Andrew J. Young, rapper and activist Michael “Killer Mike” Render, and Bounce TV Network founder Ryan Glover, Greenwood Financial blends “best-in-class” online banking services with innovative strategies to support black and Latino-oriented causes and SMEs.
Greenwood borrows its name from the Greenwood District of Tulsa, Oklahoma, which featured what was called “Black Wall Street” of early 20th century black-owned financial institutions established in the wake of the Reconstruction Era.
The firm’s C-suite includes Aparicio Giddins, President and Chief Technology Officer, a former executive at both Bank of America and TD with years of work in mobile product and emerging platform management – experience that will prove critical in helping Greenwood grow.
“I wanted to start a bank out of college,” Giddens told ABC News in an interview earlier this year, adding that he was motivated in part by the fact that he observed so few African Americans in banking. In Greenwood, he recognizes the opportunity not just to increase African American representation in the industry, but to bolster the community by using black-owned banks to “recirculate dollars” back into the community.
Greenwood Financial raised $3 million in seed funding back in October. Last month, the platform announced that it has topped 500,000 sign-ups for its virtual banking solutions in its first 100 days. Greenwood’s offering includes savings and spending accounts, virtual debit cards, P2P transfers, mobile check deposit, and no-hidden-fee ATMs in more than 30,000 locations.
OneUnited Bank – In addition to being the largest African-American owned, FDIC-insured bank, OneUnited Bank also has the distinction of being a pioneer in Internet banking among black-owned banks. Founded in 1968 as Unity Bank and Trust Company with $1.2 million in capital, OneUnited Bank has grown into a multi-branch bank and community development financial institution (CDFI) with more than $680 million in total assets. And with offices in Los Angeles, Boston, and Miami, OneUnited Bank has financed more than $100 million in loans over the past two years.
This month, the institution announced its OneTransaction Campaign. In partnership with Visa, and including a free virtual financial conference on Junetheenth of this year (June 19), the initiative is geared toward convincing African Americans to choose one transaction in 2021 to improve their financial net worth. Ideas range from getting life insurance to starting an automatic savings plan to get rid of high-interest debt.
“The reality is the racial wealth gap for each family can be closed by one strategic transaction,” OneUnited Bank Chairman and CEO Kevin Cohee explained. “By encouraging our community to accomplish One Transaction in 2021, we can make financial literacy a core value of the Black community and create generational wealth.”
Last fall, OneUnited Bank announced a $10 million deposit from international biotech company Biogen. “This deposit is one of many ways we are delivering on our enhanced Diversity, Equity, and Inclusion strategy,” Biogen EVP for Global Product Strategy and Commercialization Chirfi Guindo said. “But for OneUnited’s customers, this deposit could mean allowing them to pursue their dreams or strengthening underrepresented minority businesses.”
MoCaFi – Headquartered in New York, MoCaFi (which stands for Mobility Capital Finance) is a black-owned mobile banking platform that specializes in helping members of underserved communities benefit from digital financial services. Founded in 2015 by CEO Wole Coaxum, MoCaFi combines 21st century financial wellness solutions with an equally contemporary awareness that – in many communities – both physical money and physical banking locations are a major part of the financial ecosystem. The company partners with retail stores to enable MoCaFi account holders to deposit and withdraw money from their accounts without fee.
Last fall, MoCaFi announced a partnership with Finovate alum InComm that will give members of the black-owned neobank the ability to load their MoCaFi Mobility Debit Mastercard cash at physical retail locations around the country. InComm Payments SVP of Sales Tim Richardson praised MoCaFi as “one of the fastest growing mobile banking platforms in the country” and highlighted the company’s ability to close the “cashless” payments gap for many underbanked consumers that do not have a traditional credit or debit card.
“We already know that Blacks and Hispanics spend at least 50% more on banking services than their white counterparts,” Coaxum said last summer as the company launched its upgraded banking platform. “This is not acceptable. MoCaFi is addressing structural failures in our financial system by reimagining services that ensure that all Americans have access to safe, secure, affordable, and convenient products and services.”
MoCaFi has raised $5.3 million in funding. The firm’s investors include Radicle Impact and Partnership Fund for New York City.
Klarna is taking its Buy Now, Pay Later (BNPL) platform to a logical next step. The Sweden-based company announced today it will launch a bank account offering in Germany.
This move makes Klarna the first BNPL firm to make such a move. The company will now compete with the growing roster of digital banks in Germany, including N26 and Tomorrow.
Users will receive a Visa debit card, which is available in two colors, and will have tools on the app to track, manage, budget, and analyze their spending habits. Klarna will also reimburse users for two global ATM transactions per month.
“Our focus is to provide a superior shopping experience to our consumers at the intersection of retail and banking,” said Klarna CEO Sebastian Siemiatkowski. “And we know that there’s still massive room for improvement to the way many people bank and save their money today. Users are demanding more seamless, intuitive and transparent services to meet their daily needs, but many banks still do not cater for this.”
As Siemiatkowski points out, Klarna banking will be useful for “bundling shopping and banking in one app.” However, it is difficult to see the extra value a Klarna bank account will bring to users who aren’t big on shopping. N26 touts an integration with Transferwise for easy and inexpensive foreign money transfers and Tomorrow differentiates itself with a positive approach to sustainability and social causes. Klarna, in contrast, makes shopping a more embedded experience. This isn’t necessarily a positive attribute for one’s finances.
To counteract this “spend, spend, spend” mentality, Klarna said it has plans to add savings goals to the banking app, a feature that is already available in Sweden.
A pilot of Klarna’s bank account will initially be available to the company’s “most loyal” users and will roll out to all Germany-based users “in the coming months.”
In a round led by existing investor Insight Partners, banking technology company NYMBUS has secured $53 million in new funding. The Series C round is the company’s largest funding to date, and will help it fulfill its mission of empowering banks and credit unions to leverage digital technology to create new revenue streams.
“As the pandemic has pushed digital to the forefront, more banks and credit unions have turned to Nymbus as their partner for growth,” explained Nymbus’ Jeffrey Kimball, who took the helm as the company’s CEO last September. “This new and significant investment validates a confidence in Nymbus to continue transforming the financial services industry with a banking strategy that buys back decades of lost time to speed digital innovation.”
As part of the funding, Insight Partners principal A.J. Malhotra will join Managing Director Peter Sobiloff on the Nymbus Board of Directors. In the funding announcement, Sobiloff underscored the ability of companies like Nymbus to help financial institutions bridge the gap between their digital goals and their legacy systems. “The shift to profitable digital banking is still in its early stages for many traditional institutions,” Sobiloff said, “and Nymbus fills a tremendous hole in the market for enabling these banks and credit unions to finally move beyond playing catchup and set up their businesses for meaningful growth.”
Nymbus noted that the capital – which takes the firm’s total funding to more than $98 million – also will support the launch of its Nymbus Labs initiative. The “soon-to-be-unveiled” project is designed to make it easier for financial institutions to “leverage niche digital banks” to better engage their customers, uncover new revenue opportunities, and drive innovation.
Nymbus most recently demonstrated its technology at FinovateFall 2019. At the conference, the Miami Beach, Florida-based company demonstrated SmartLaunch, its full-service, standalone digital bank alternative. In the time since, the company has partnered with PeoplesBank to launch a digital-first alternative ZYNLO, teamed up with NYDIG to help the Bitcoin-based financial services firm offer Bitcoin banking, and announced a pair of C-suite hires: Sarah Howell as Chief Alliance Officer and Larry McClanahan as Chief Product Officer.
AI marketing expert Micronotes recently launched a refinancing tool that will help consumers reorganize their debt, while enabling banks to lower their borrowing costs and boost customer retention.
The new tool builds on Micronotes’ ReFi solution it launched last June. The credit marketing automation suite enables banks to leverage AI to help their clients automatically identify refinancing opportunities for a range of consumer debt, including auto loans, personal loans, student loans, credit card debt, and mortgages.
With today’s advancement of ReFi, Micronotes is teaming up with Experian to leverage the firm’s database of consumer credit profiles. Experian will compare the bank’s current lending criteria to the consumer’s credit profile, and then synthetically refinance the customer’s existing debt held elsewhere while identifying other refinancing opportunities.
“We’re thrilled to partner with Experian to leverage artificial intelligence and data to help consumers lower their borrowing costs,” said Devon Kinkead, founder and CEO of Micronotes. “With an estimated $2 trillion in mispriced debt, during an era of persistently low interest rates, we help digital banking customers see where they’re overpaying interest that can be refinanced with a lender they know and trust — their primary financial institution.”
Micronotes’ personalization expertise comes in via the customer communication piece. The company will send the customer a message in the digital banking channel that informs them of the potential savings. Using Micronotes’ technology, the customer can respond to the message using preset, customizable quick-response buttons that range from “remind me later” to “chat with a banker.”
This quick-response messaging system is Micronotes’ bread and butter. The company was founded in 2008 to help financial institutions start conversations with their customers in a non-invasive way. At the company’s most recent Finovate appearance, FinovateSpring 2013, Micronotes showed off its cross-sell feature that uses predictive analytics to bring the branch sales process into the digital channel.
Headquartered in Boston, Massachusetts, Micronotes has raised $12.2 million.
One of the biggest impacts of COVID-19 in the financial services world has been to invigorate the relationship between banks and fintechs. This week’s news that Berkshire Bank has turned to cloud-based document management solution providerCirrus to help it manage financial relief efforts for small businesses is another example of this trend.
“Cirrus’ portal plays a key role in expediting the process of managing SBA loans, enabling Berkshire Bank to collaborate remotely, execute rapidly, and scale quickly to efficiently address the influx in loan requests and alleviate the document chaos associated with SBA lending,” Cirrus founder and CEO David Brooks explained.
Challenged with a massive inflow of SBA loan requests, including 942 Paycheck Protection Program loans on the program’s first day, Berkshire Bank will also benefit from real-time transparency into the progress of each loan. The combination of automation and greater visibility via the integration make the overall lending process faster and more efficient, for both the bank and the customer.
This capacity, Brooks noted in an article written last month, is important. But so is scalability and the ability of businesses and the solutions they depend on to react and adapt to new potential challenges. “With a new administration in place, it is uncertain what additional relief programs may be on the horizon,” Brooks wrote. “By taking time to evaluate existing technology and operational workflows to ensure they are configurable and scalable to support PPP, financial institutions will be better positioned to accommodate future programs.”
Headquartered in Evergreen, Colorado, Cirrus works with banks and other businesses to help them better manage the document processing needs of their commercial and small business accountholders during onboarding and when seeking financing. The company made its Finovate debut last year at our all-digital conference, demonstrating version six of its front-end document management solution.
Founded in 2018, Cirrus includes The FIS FinTech Accelerator in Partnership with The Venture Center and Queen City Fintech among its investors.
Berkshire Bank operates 130 branch offices in New England and New York, and has $12.9 billion in assets. The bank is owned by Berkshire Hills Bancorp, a Boston, Massachusetts-based bank holding company.
