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An Inside Look at Bank/Fintech Partnerships: Promontory Interfinancial Network and SoFi

We talk with Blue Ridge Bank and Pioneer Bank about buying SoFi loans through Promontory Interfinancial Network’s Bank Assetpoint® service.

July 19, 2018 By Todd Anderson Leave a Comment

Views: 1,448

The recent surge in financial innovation has caused many community banks to rethink how they are serving their customers and what they can do to improve that experience. I recently spoke with two community banks about their decision to buy SoFi loans using Promontory Interfinancial Network’s service.

I spoke with Brian Plum, CEO of Blue Ridge Bank, which is a Virginia based community bank with mortgage offices in North Carolina, and Nicole Austin, Chief Lending Officer of Pioneer Bank, which is a New Mexico-based community bank.

Both banks had experience in looking at fintech partnerships before moving ahead with their decision on the SoFi program. They both said that as lending and banking changed, they needed to better understand how new technology could help their businesses.

[Read more…]

Filed Under: Peer to Peer Lending Tagged With: bank partnerships, Blue Ridge Bank, Long Game Savings, Pioneer Bank, Promontory Interfinancial Network, SoFi

Views: 1,448

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ABOUT LENDIT FINTECH NEWS

LendIt Fintech News, Powered by Lend Academy, has been bringing you all the news and information about fintech and online lending since 2010 when it was founded by Peter Renton. We not only have the industry’s most active news site, but also the largest investor forum and the first and most popular podcast.

We are a team of fintech enthusiasts who have been covering the industry for many years. With a deep knowledge of online lending, digital banking, blockchain, artificial intelligence and more our team covers the daily news and writes in-depth editorials.

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