In today’s top digital banking news, CheckAlt is partnering with LEVERAGE Payment Solutions to address indirect lending support issues, while Cross River Bank is reportedly in preliminary talks with potential bidders to raise approximately $ 200 million. In addition, Wells Fargo is reportedly closing personal lines of credit in response to a change in focus.
CheckAlt, which provides banks and credit unions (CUs) with loan payment and merchandise handling solutions, has partnered with LEVERAGE payment solutions. Borrowers can make loan payments at any time from anywhere using the CheckAlt LoanPay offer. “We are delighted to be able to help expand the capabilities of LEVERAGE Payment Solutions to better serve credit union members and address the historic problem of loan repayment,” CheckAlt Development Director Allison Murray said in a statement.
Cross River Bank is said to be in preliminary talks with potential plaintiffs to raise about $ 200 million. This could lead to a Fort Lee, New Jersey-based lender’s valuation of $ 2.5 billion or more, according to a published report. The terms of the funding round are not set in stone and may ultimately be different, according to the report. CRB Group, parent company of Cross River Bank, recently acquired PeerIQ, a data and risk analysis company.
Wells Fargo is closing its personal lines of credit as a financial institution (FI) refuses to offer banking services, according to a released report. “Wells Fargo recently revised its product offerings and decided to stop offering new personal and portfolio credit accounts and close all existing accounts,” the bank said in a statement. The promotion is intended to enable financial institutions to shift their focus to retail loans and credit cards.