Banking & Finance

Nov 6, 2020

COVID-19 Speeds Up Banking Tech

By Jenny Callison, posted Nov 6, 2020

In the era of coronavirus, banks have had to wean retail custom­ers away from reliance on in-per­son transactions and point them toward the greater use of technology. Bankers say COVID restric­tions hastened the trend in that direction.   “Ultimate­ly, COVID-19 amplified existing behavior changes by forcing the is­sue with closures and rest ...

Nov 4, 2020

Live Oak Bank has again landed atop the list of Small Business Administration lenders in the SBA’s 7(a) program. The results for 7(a) lending during the federal fiscal year, which ended Sept. 30, were posted to the SBA website recently. Nationally during the fiscal year, the 7(a) program made about 42,000 loans for a total of nearly $22.6 billion, according to the ...

Oct 22, 2020

Live Oak Reports Higher Earnings, Deposits At End Of Q3 2020

By Jenny Callison, posted Oct 22, 2020

Several of Live Oak Bancshares’ key metrics were up as of Sept. 30, the end of the company’s third quarter. Net income and earnings per share were higher than those of both the second quarter of 2020 and the third quarter of 2019, company officials reported Wednesday.   The company’s net income for Q3 of 2020 was $33.8 million, up 767% from the net ...

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Smart Startups Build Support Networks

Posted Nov 11, 2020
Contributed by Keith Markfield

As entrepreneurs we often set out to solve a problem with an idea and passion. The pace of startup life is fast and furious as you’re finding your fit in the market and gaining traction. Ferris Bueller famously said about life that if you don't stop and look around once in a while, you could miss it. The same holds true for a startup...read entire article
Oct 13, 2020

Canapi Ventures Makes Investments To Fuel Digital Banking

By Jenny Callison, posted Oct 13, 2020

Canapi Ventures has been busy of late with investments to support what it considers strategic new financial technologies. Since mid-August, the firm has contributed to the funding rounds of five financial technology companies – four as the lead or co-lead investor.   Canapi Ventures is a venture capital firm investing in early- to growth-stage fintech com ...

Oct 6, 2020

Wilmington-based nCino Inc. announced the launch of its secondary public offering of 5.5 million shares of stock, according to a news release.  The stock is being sold by certain stockholders of nCino, a banking software firm. The company is not selling any shares and will not receive any proceeds from the offering, officials said in the release. "In add ...

Oct 2, 2020

Fueling Foundation's Investment Power

By Jenny Callison, posted Oct 2, 2020

While the New Hanover County Board of Com­missioners’ move toward a sale of New Hanover County Regional Medical Center has re­ceived much public attention, a parallel effort has not.   That effort – laying the groundwork for a community foundation that would invest and manage more than $1 billion from the proposed sale to Novant Health – ha ...

Oct 2, 2020

Live Oak Bank Adopts New Cloud-native Core System

By Jenny Callison, posted Oct 2, 2020

Live Oak Bank has adopted a new, cloud-native core system to run its digital banking ecosystem, according to a recent news release.   The provider of that core, Finxact, is well known to the bank’s parent, Live Oak Bancshares: Investments by its subsidiary have helped Finxact develop and grow.   Live Oak Bancshares Chairman and CEO James “Chip&rdq ...

Sep 30, 2020

Going Public Brings NCino More Visibility, CEO Says

By Christina Haley O'Neal, posted Sep 30, 2020

nCino’s change into a publicly traded company this summer allows greater visibility for nCino around the globe, said Pierre Naudé, CEO of the Wilmington-based banking software firm.  Naudé, CEO of banking software company nCino, shared some details about the company going public during a keynote virtual talk Wednesday morning, kicking off the fi ...

Sep 22, 2020

Grant Program For Small-town Small Businesses Announced

By Jenny Callison, posted Sep 22, 2020

Companies in rural communities have an economic lifeline opportunity they may not know about.   The Rural Relief Small Business Grant from LISC (Local Initiatives Support Corp.) and Lowe's provides one-time grants to businesses and enterprises in rural America that have been affected by COVID-19. LISC defines “rural communities” as having a populatio ...

Sep 18, 2020

CEO Pierre Naudé took the helm of Wilmington-based nCino in 2012, steering the banking software firm’s growth from five employees to more than 900 and from a private firm to its debut on the Nasdaq in July.   On its first day of trading, nCino’s stock skyrocketed by more than 150%. nCino, a spinoff of Wilmington’s Live Oak Bank that had $138 ...

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