Strategic Insights into Banking & Fintech

Consulting firm Cornerstone Advisors taps insider as next CEO

Consulting firm Cornerstone Advisors taps insider as next CEO

Cornerstone Advisors in Scottsdale, Ariz., has a new leader. The consulting firm said in a press release that Mazen Ghalayini had become its chairman and CEO. Ghalayini, who was president, succeeded Steve Williams, who remains at the firm as a founding partner. “It’s a privilege to build on the incredible foundation Steve and our team have created over the last 25 years,” Ghalayini said in the release. “Cornerstone has earned the

August 4, 2026
Patelco Credit Union invests in open payments CUSO Payfinia

Patelco Credit Union invests in open payments CUSO Payfinia

Payfinia, a credit union service organization (CUSO) that provides an open payments framework, has received an investment from Patelco Credit Union in Dublin, Calif. The CUSO didn't disclose the amount of the investment from the $9.5 billion-asset Patelco. Kal Majmundar, Patelco’s chief technology officer, joined the Payfinia CUSO board. "At Patelco, we are committed to delivering modern financial experiences that evolve alongside our members' needs," Majmundar said in the release.

August 3, 2026
MeridianLink buy wellness platform Credit Mountain

MeridianLink buy wellness platform Credit Mountain

MeridianLink, a software provider, has acquired Credit Mountain, an AI-focused financial wellness platform. MeridianLink said in a press release that the acquisition "marks the start of an era of accelerated technology investment" that will accelerate its strategy of helping financial institutions engage borrowers throughout the lending decision. The price wasn't disclosed.  “MeridianLink has long been a market leader in helping community financial institutions automate and orchestrate account opening and loan

August 3, 2026
Neobank Dakota applies for national trust bank charter

Neobank Dakota applies for national trust bank charter

Dakota, a neobank that issued an enterprise stablecoin offering earlier this year, has applied for a national trust bank charter. The company, which already operates as a registered money services business, said in a press release that the new charter would position it "as a federally regulated provider of digital asset custody, stablecoin issuance, and related services, and a partner of choice for corporate and institutional clients building on us."

August 3, 2026
BCB in New Jersey reports big loss and cleanup begins

BCB in New Jersey reports big loss and cleanup begins

BCB Bancorp in Bayonne, N.J., reported a $14.8 million second-quarter loss. The $3.1 billion-asset company, which just hired turnaround expert Tom O'Brien as its CEO, said the loss reflected a $19 million loan-loss provision, a $5.3 million goodwill impairment, and a $2.6 million loss tied to a nonaccrual construction loan moved to held-for-sale. BCB said it is reviewing its loan portfolio with outside consultants, suspended common and preferred dividends, and

August 3, 2026
Illinois Bankers Association looks outward for new leader

Illinois Bankers Association looks outward for new leader

The Illinois Bankers Association has a new leader. The association said that David Boulay had become its president and CEO. Boulay was president of IMEC Illinois.

August 3, 2026
Fintech Chime cutting staff by 10%

Fintech Chime cutting staff by 10%

Chime plans to cut a tenth of its workforce, or roughly 150 people. The fintech is looking to capitalize on increased use of artificial intelligence to innovate and become more efficient. “The world is changing quickly and this means we need to keep evolving too,” CEO Chris Britt wrote in a company memo. “To continue to lead in the next era, we need to have the right structure, capabilities, and

July 31, 2026
Peoples Bancshares of TN to buy First Peoples in Tennessee

Peoples Bancshares of TN to buy First Peoples in Tennessee

Peoples Bancshares of TN in Madisonville, Tenn., has agreed to buy First Peoples Bancorp in Jefferson City, Tenn. Peoples Bancshares said in a press release that it will have $650 million of assets after it buys the parent of First Peoples Bank of Tennessee in a deal expected to close late this year or early 2027. The price wasn't disclosed. “We have long respected the relationships First Peoples Bank of

July 31, 2026