The Co-operative Bank

Natech Launches Next Stage of Mission to Democratize Access to Technology for All Financial Institutions

Retrieved on:

Thursday, March 21, 2024

Professional Services, Technology, Software, Finance, Fintech, Banking, Digital Cash Management, Digital Assets, The Co-operative Bank, Schnappi, Bank, OPAP, Growth

Natech Banking Solutions, provider of a leading end-to-end digital banking platform, has today announced a rebrand that sets a foundation for the next generation of its product suite, which democratizes access to cutting-edge financial technology.

Key Points:

Natech Banking Solutions, provider of a leading end-to-end digital banking platform, has today announced a rebrand that sets a foundation for the next generation of its product suite, which democratizes access to cutting-edge financial technology.
The new brand identity signifies Natech’s focus on global expansion and the evolution of its product offering to empower financial institutions including fintechs and neobanks around the world with accessible, resilient digital banking technology.
Thanasis Navrozoglou, Group CEO, said: “We are committed to empowering financial institutions by enabling them to access and leverage the latest technology.
The rebrand marks the beginning of the next stage of Natech’s journey, which will focus on global growth.

Glassbox Reports Record Growth in Cloud Subscription Revenue, Bolsters AI Advancements

Retrieved on:

Wednesday, March 13, 2024

Cloud subscription ARR surged by 54% YoY to $50.5 million.

Key Points:

Cloud subscription ARR surged by 54% YoY to $50.5 million.
Notably, Glassbox secured a three-year, $42.3 million agreement with a prominent bank, which bolstered its cloud subscription revenue.
In the fourth quarter, revenue hit $14 million, a notable 22% growth YoY, with cloud subscription revenue seeing a 69% surge over the same period of 2022.
Glassbox also continued its upward trajectory in non-GAAP operating profit to 68.9% compared to 65.7% in the previous year.

Carefull Raises $16.5 Million to Scale Financial Safety Platform for Older Adults and Their Families, Helping More Banks and Financial Advisors Protect Aging Customers From Fraud and Money Mistakes

Retrieved on:

Wednesday, October 11, 2023

Transfer, Fraud, PRT, Family, Churn, American Bankers Association, General partnership, Ageing, Dementia, Growth, The Co-operative Bank, Co-operative Bank, Contact lens, Cryptocurrency

NEW YORK, Oct. 11, 2023 /PRNewswire/ -- Carefull, an AI-powered financial safety platform that helps banks and wealth advisors protect aging customers from scams and money mistakes, today announced that it has closed its Series A round with $16.5 million in funding. The round was led by Fin Capital and joined by Bessemer Venture Partners, TTV Capital, Commerce Ventures, Montage Ventures, and Alloy Labs, bringing the company's total funding to $19.7 million.

Key Points:

"There are now 45 million people across the country who are tasked with managing an aging loved one's money, and older Americans lose $37 billion annually to fraud and money mistakes.
The growing role of the financial institution to help families here cannot be understated," said Todd Rovak, Co-founder and Co-CEO of Carefull.
"Banks, wealth advisors, and financial caregivers need a solution that customers actually want to use," added Carefull Co-founder and Co-CEO Max Goldman.
Over the past year, Carefull has rapidly expanded its footprint to include more than 35 financial institutions and advisor groups.

Woodbridge International Announces Sale of 10-D, Inc. and Applied Compliance Services to Neovera, Inc.

Retrieved on:

Tuesday, September 19, 2023

Cloud, Consumer complaint, Partnership, Content as a service, Private, Plan, GCP, Risk management, Identity, Security, Information, Acquisition, The Co-operative Bank, Access, Capital, Identity management, AWS, Oracle, HAVEN

With a focus on cybersecurity assessments, compliance, and risk management, 10-D Security has earned a reputation for excellence in the field of cybersecurity within the financial services industry.

Key Points:

With a focus on cybersecurity assessments, compliance, and risk management, 10-D Security has earned a reputation for excellence in the field of cybersecurity within the financial services industry.
AppliedCS provides Compliance Management, Information Security, and Risk Management Services to Financial Institutions nationwide.
"We're excited to unite with Neovera, a renowned leader in the managed cybersecurity industry," said Phil VanMeerhaeghe, CEO of 10-D Security.
Woodbridge International’s ground-breaking approach to marketing a company globally has transformed the way the sell-side M&A industry does business.

Laurentian Bank Concludes Review of Strategic Options

Retrieved on:

Thursday, September 14, 2023

Specialization, Personal, The Co-operative Bank, Commercial bank, Acquisition, Retail, TSX, Growth, Bank, Management, Cryptocurrency, Security (finance), Laurentian Bank of Canada

MONTRÉAL, Sept. 14, 2023 /CNW/ - Laurentian Bank (TSX: LB) (the "Bank") announced today that it has completed its review of strategic options aimed at maximizing shareholder and stakeholder value with the support of independent financial and legal advisors.

Key Points:

MONTRÉAL, Sept. 14, 2023 /CNW/ - Laurentian Bank (TSX: LB) (the "Bank") announced today that it has completed its review of strategic options aimed at maximizing shareholder and stakeholder value with the support of independent financial and legal advisors.
Two years ago, Laurentian Bank launched a new three-year strategic plan to reboot itself for the future.
Throughout that process it considered a variety of options, including an acquisition of the whole bank, divestments of certain businesses, as well as accelerating its already proven strategic plan.
"Having now completed this review of our strategic options, we are more confident than ever in Laurentian Bank's strong positioning in the market and unique offering for our customers," said Rania Llewellyn, President and Chief Executive Officer.

LACK OF INVESTING CONFIDENCE AMONGST YOUNG CANADIANS

Retrieved on:

Thursday, May 25, 2023

Anxiety, Male, Ageing, Friends, The Co-operative Bank, Social media, Habit, Family, Female, Cryptocurrency, Financial adviser

TORONTO, May 25, 2023 /CNW/ - New data reveals that younger Canadians are feeling uneasy about investing.

Key Points:

TORONTO, May 25, 2023 /CNW/ - New data reveals that younger Canadians are feeling uneasy about investing.
"The challenges of today's economic climate, including high interest rates and cost of living, are intensified by the knowledge gap that exists for young Canadians," said Emmie Fukuchi, Chief Experience Officer at Co-operators.
"This lack of confidence and hesitancy truly underscores the need for professional and trustworthy financial advice," said Jessica Baker, Vice President of Co-operators Advisor Network.
While financial advice on social media channels can act as a conduit for young Canadians to get an initial understanding of investing, Co-operators urges Canadians to reach out to a licensed financial advisor to develop a tailored investing approach.

New survey shows that Canadians are unprepared for today's financial challenges

Retrieved on:

Wednesday, February 15, 2023

Income tax, RRSP, TFSA, Registered retirement savings plan, Retirement, Tax-free savings account, News, The Co-operative Bank, Education, Growth, Habit, Renewable energy, Financial adviser, Management

"The current economic climate continues to apply significant financial pressure on Canadians," said Rob Wesseling, President and CEO at Co-operators.

Key Points:

"The current economic climate continues to apply significant financial pressure on Canadians," said Rob Wesseling, President and CEO at Co-operators.
The survey found that financial planning is a key ingredient in alleviating Canadians' financial concerns.
Of those who work with a Financial Advisor, a majority agree that their advisor helps them feel confident about their financial decisions (58 per cent) and worry less about their financial situation (56 per cent).
"The survey results are crystal clear: financial advice is a critical tool that's proven to help Canadians feel more confident about their financial futures," said Jessica Baker, Vice President of Co-operators Advisor Network.

Mechanics Cooperative Bank expands partnership with Finastra to deliver innovative payments services

Retrieved on:

Tuesday, December 20, 2022

LAKE MARY, Fla., Dec. 20, 2022 /PRNewswire/ -- Finastra today announced that Mechanics Cooperative Bank, a Massachusetts-based financial institution with more than $645 million in assets, has selected Finastra Payments To Go to introduce new business payments services and enhance the customer experience. The multi-rail payments hub empowers Mechanics Cooperative Bank to leverage the strength of the cloud, providing the tools needed to introduce Real-Time Payments services (RTP) through the Clearing House (TCH) and to quickly join the FedNow rail when it goes live.

Key Points:

When it was time to enhance our payments services, we saw Finastra and Payments To Go as the obvious choice to help us adopt an agile and cloud-based payments hub," said Joseph T. Baptista Jr., President and CEO of Mechanics Cooperative Bank.
Payments To Go provides Mechanics Cooperative Bank the agility needed to provide new and innovative payments services, including RTP and FedNow.
"Our payments solution enables financial institutions such as Mechanics Cooperative Bank to introduce new payments services quickly and efficiently while leveraging the strength of the cloud," said Barry Rodrigues, EVP of Finastra's Payments Business Unit.
Established in 1877, Mechanics Cooperative Bank is Massachusetts' second-oldest co-operative bank with nine conveniently located branches in Taunton, Bridgewater, North Dighton, Somerset, Swansea, Fall River, New Bedford, and Westport.

Mechanics Cooperative Bank expands partnership with Finastra to deliver innovative payments services

Retrieved on:

Tuesday, December 20, 2022

LAKE MARY, Fla., Dec. 20, 2022 /PRNewswire/ -- Finastra today announced that Mechanics Cooperative Bank, a Massachusetts-based financial institution with more than $645 million in assets, has selected Finastra Payments To Go to introduce new business payments services and enhance the customer experience. The multi-rail payments hub empowers Mechanics Cooperative Bank to leverage the strength of the cloud, providing the tools needed to introduce Real-Time Payments services (RTP) through the Clearing House (TCH) and to quickly join the FedNow rail when it goes live.

Key Points:

When it was time to enhance our payments services, we saw Finastra and Payments To Go as the obvious choice to help us adopt an agile and cloud-based payments hub," said Joseph T. Baptista Jr., President and CEO of Mechanics Cooperative Bank.
Payments To Go provides Mechanics Cooperative Bank the agility needed to provide new and innovative payments services, including RTP and FedNow.
"Our payments solution enables financial institutions such as Mechanics Cooperative Bank to introduce new payments services quickly and efficiently while leveraging the strength of the cloud," said Barry Rodrigues, EVP of Finastra's Payments Business Unit.
Established in 1877, Mechanics Cooperative Bank is Massachusetts' second-oldest co-operative bank with nine conveniently located branches in Taunton, Bridgewater, North Dighton, Somerset, Swansea, Fall River, New Bedford, and Westport.

AM Best Affirms Credit Ratings of Co-operative Life Limited

Retrieved on:

Thursday, September 15, 2022

Insurance, Professional Services, Income, Credit, Cooperative, The Co-operative Bank, Life, News, Industry, AM Best, Ownership, AM, The Co-operative, Risk management, Insurance, ALL, Communication, Good, Security (finance)

AM Best has affirmed the Financial Strength Rating of B++ (Good) and the Long-Term Issuer Credit Rating of bbb+ (Good) of Co-operative Life Limited (Co-op Life) (New Zealand).

Key Points:

AM Best has affirmed the Financial Strength Rating of B++ (Good) and the Long-Term Issuer Credit Rating of bbb+ (Good) of Co-operative Life Limited (Co-op Life) (New Zealand).
In addition, the ratings factor in a neutral impact from the companys ultimate 100% ownership by The Co-operative Bank Limited (Co-op Bank).
For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Bests Credit Ratings .
For information on the proper use of Bests Credit Ratings, Bests Performance Assessments, Bests Preliminary Credit Assessments and AM Best press releases, please view Guide to Proper Use of Bests Ratings & Assessments .