Latest news with #MetropolitanCommercialBank
Business Wire
03-06-2025
- Business
- Business Wire
Metropolitan Commercial Bank Wins Prestigious "Editors' Choice" Award at the Banking Tech Awards USA
NEW YORK--(BUSINESS WIRE)--Metropolitan Commercial Bank (the 'Bank,' 'MCB'), a full-service commercial bank based in New York City is proud to announce that it has been recognized with the esteemed "Editors' Choice" Award at the Banking Tech Awards USA. This distinction highlights MCB's innovation in Digital Onboarding and Omnichannel Banking, reinforcing its position as a leader in financial innovation. "We are deeply honored to receive this award, which celebrates our continued commitment to advancing digital banking and delivering a seamless, intuitive onboarding experience for our clients." The Banking Tech Awards USA recognizes and honors institutions who excel and innovate in the banking technology field. Winning the "Editors' Choice" Award reflects MCB's commitment to delivering seamless, client-centric digital experiences. "We are deeply honored to receive this award, which celebrates our continued commitment to advancing digital banking and delivering a seamless, intuitive onboarding experience for our clients," said Dixiana Berrios, Chief Operating Officer at Metropolitan Commercial Bank. "Innovation is at the heart of everything we do, and this recognition showcases our commitment to the MCB digital innovation project Modern Banking in Motion." MCB's Digital Onboarding capabilities are powered by the cutting-edge solutions of ebankIT, an omnichannel digital banking platform. Their platform is a core element of MCB's Modern Banking in Motion initiative that aims to enhance the Bank's ability to deliver personalized finance solutions and adapt to future advances in banking through powerful digital tools. For more information about Metropolitan Commercial Bank's award-winning digital banking solutions, visit About Metropolitan Commercial Bank Metropolitan Commercial Bank (the 'Bank') is a New York City based full-service commercial bank. The Bank provides a broad range of business, commercial and personal banking products and services to individuals, small businesses, private and public middle-market and corporate enterprises and institutions, municipalities and local government entities. Metropolitan Commercial Bank provides specialized banking services for the EB-5 and E-2 communities. The Bank combines deep industry expertise with tailored financial products to ensure a smooth, secure and efficient journey from initial investment to project completion. Metropolitan Commercial Bank was named one of Newsweek's Best Regional Banks in 2024 and 2025. The Bank was ranked by Independent Community Bankers of America among the top ten successful loan producers for 2024 by loan category and asset size for commercial banks with more than $1 billion in assets. Kroll affirmed a BBB+ (investment grade) deposit rating on January 29, 2025. For the fourth time, MCB has earned a place in the Piper Sandler Bank Sm-All Stars Class of 2024. Metropolitan Commercial Bank operates banking centers and private client offices in Manhattan and Boro Park, Brooklyn in New York City and Great Neck on Long Island in New York State. The Bank is a New York State chartered commercial bank, a member of the Federal Reserve System and the Federal Deposit Insurance Corporation, and an equal housing lender. The parent company of Metropolitan Commercial Bank is Metropolitan Bank Holding Corp. (NYSE: MCB) (the 'Company'). For more information, please visit the Bank's website at Forward Looking Statement Disclaimer This release contains 'forward-looking statements' within the meaning of the Private Securities Litigation Reform Act of 1995. Examples of forward-looking statements include but are not limited to the Company's future financial condition and capital ratios, results of operations and the Company's outlook and business. Forward-looking statements are not historical facts. Such statements may be identified by the use of such words as 'may,' 'believe,' 'expect,' 'anticipate,' 'plan,' 'continue' or similar terminology. These statements relate to future events or our future financial performance and involve risks and uncertainties that may cause our actual results, levels of activity, performance or achievements to differ materially from those expressed or implied by these forward-looking statements. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we caution you not to place undue reliance on these forward-looking statements. Factors which may cause our forward-looking statements to be materially inaccurate include, but are not limited to the continuing impact of the COVID-19 pandemic on our business and results of operation, an unexpected deterioration in our loan or securities portfolios, unexpected increases in our expenses, different than anticipated growth and our ability to manage our growth, unanticipated regulatory action or changes in regulations, unexpected changes in interest rates, inflation, an unanticipated decrease in deposits, an unanticipated loss of key personnel or existing clients, competition from other institutions resulting in unanticipated changes in our loan or deposit rates, an unexpected adverse financial, regulatory or bankruptcy event experienced by our fintech partners, unanticipated increases in FDIC costs, changes in regulations, legislation or tax or accounting rules, the current or anticipated impact of military conflict, terrorism or other geopolitical events and unanticipated adverse changes in our clients' economic conditions or general economic conditions, as well as those discussed under the heading 'Risk Factors' in our Annual Report on Form 10-K and Quarterly Reports on Form 10-Q.
Business Wire
21-05-2025
- Business
- Business Wire
Metropolitan Commercial Bank Named Finalist for Payment Solution of the Year at SBC Summit Americas
NEW YORK--(BUSINESS WIRE)--Metropolitan Commercial Bank (the 'Bank,' 'MCB'), a full-service commercial bank based in New York City is proud to announce that it has been named a finalist in the Payment Solution of the Year: North America category at the prestigious SBC Summit Americas. MCB's steady growth and commitment to digital innovation have earned this recognition, underscoring the Bank's dedication to delivering reliable, forward-thinking banking solutions that empower individuals and businesses worldwide. The SBC Summit Americas, a premier industry event, brings together 10,000 industry professionals and hosts 400+ exhibitors and sponsors from North, South, and Central American casino (online and land-based), sports betting, and digital media sectors. Being selected as a finalist highlights MCB's dedication to excellence and client-centric innovation in banking solutions "We are honored to be recognized among the top payment solution providers in North America," said Mark R. DeFazio, Founder, President and CEO at Metropolitan Commercial Bank. "This acknowledgment reinforces our commitment to developing reliable cutting-edge solutions that meet the evolving needs of our clients and partners.' Metropolitan Commercial Bank congratulates all the finalists and looks forward to continuing its mission of modern banking innovation.' About Metropolitan Commercial Bank Metropolitan Commercial Bank (the 'Bank') is a New York City based full-service commercial bank. The Bank provides a broad range of business, commercial and personal banking products and services to individuals, small businesses, private and public middle-market and corporate enterprises and institutions, municipalities and local government entities. Metropolitan Commercial Bank provides specialized banking services for the EB-5 and E-2 communities. The Bank combines deep industry expertise with tailored financial products to ensure a smooth, secure and efficient journey from initial investment to project completion. Metropolitan Commercial Bank was named one of Newsweek's Best Regional Banks in 2024 and 2025. The Bank was ranked by Independent Community Bankers of America among the top ten successful loan producers for 2024 by loan category and asset size for commercial banks with more than $1 billion in assets. Kroll affirmed a BBB+ (investment grade) deposit rating on January 29, 2025. For the fourth time, MCB has earned a place in the Piper Sandler Bank Sm-All Stars Class of 2024. Metropolitan Commercial Bank operates banking centers and private client offices in Manhattan and Boro Park, Brooklyn in New York City and Great Neck on Long Island in New York State. The Bank is a New York State chartered commercial bank, a member of the Federal Reserve System and the Federal Deposit Insurance Corporation, and an equal housing lender. The parent company of Metropolitan Commercial Bank is Metropolitan Bank Holding Corp. (NYSE: MCB) (the 'Company'). For more information, please visit the Bank's website at Forward Looking Statement Disclaimer This release contains 'forward-looking statements' within the meaning of the Private Securities Litigation Reform Act of 1995. Examples of forward-looking statements include but are not limited to the Company's future financial condition and capital ratios, results of operations and the Company's outlook and business. Forward-looking statements are not historical facts. Such statements may be identified by the use of such words as 'may,' 'believe,' 'expect,' 'anticipate,' 'plan,' 'continue' or similar terminology. These statements relate to future events or our future financial performance and involve risks and uncertainties that may cause our actual results, levels of activity, performance or achievements to differ materially from those expressed or implied by these forward-looking statements. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we caution you not to place undue reliance on these forward-looking statements. Factors which may cause our forward-looking statements to be materially inaccurate include, but are not limited to the continuing impact of the COVID-19 pandemic on our business and results of operation, an unexpected deterioration in our loan or securities portfolios, unexpected increases in our expenses, different than anticipated growth and our ability to manage our growth, unanticipated regulatory action or changes in regulations, unexpected changes in interest rates, inflation, an unanticipated decrease in deposits, an unanticipated loss of key personnel or existing clients, competition from other institutions resulting in unanticipated changes in our loan or deposit rates, an unexpected adverse financial, regulatory or bankruptcy event experienced by our fintech partners, unanticipated increases in FDIC costs, changes in regulations, legislation or tax or accounting rules, the current or anticipated impact of military conflict, terrorism or other geopolitical events and unanticipated adverse changes in our clients' economic conditions or general economic conditions, as well as those discussed under the heading 'Risk Factors' in our Annual Report on Form 10-K and Quarterly Reports on Form 10-Q.
Business Insider
24-04-2025
- Business
- Business Insider
At this fintech, bad Karma means a lower bonus
Fintech startup Revolut awards or docks "Karma" points based on how staff follow compliance rules. These scores roll into team totals that can impact individual bonuses. Revolut says the system has improved risk performance by 25% since launching in 2020. If you work at Revolut, it's not just your targets that could determine your bonus — it's your "Karma." The London-based fintech uses a points system called Karma to score departments on how well they follow risk and compliance rules. Bonuses are calculated based on individual performance, but the final payout is adjusted using a multiplier tied to each team's Karma score. If a department completes required training, flags compliance issues early, and follows policy, employees in that group collect Karma points that may increase their bonuses. Details of the program were included in Revolut's latest annual report, released Thursday. The company, which provides current accounts, crypto trading, says Karma is designed to reinforce the idea that risk management is a "shared responsibility." A Revolut spokesperson told Business Insider that Karma isn't about tracking individual staff. "A typical example would be in the event of a risk incident, we apply Karma to ensure investigation and remediation are done on time," they said. Karma's gonna track teams down Revolut says companywide compliance performance has improved by 25% since the system launched in 2020. Real-time dashboards track department-level performance, and so-called "risk champions" are embedded across teams to model good behaviour. The company said in its annual report that it expanded the program last year with six new data sources. Karma is part of a broader shift for Revolut to show it's taking governance seriously. The company secured a UK banking license, with restrictions, in July 2024, after a three-year wait tied to past governance issues. The company's CEO, Nikolay Storonsky, has previously laid out a hardline approach to performance. In a September 2024 report published by Quantumlight, a venture firm he co-founded, he said underperforming staff at tech startups should be given six weeks to improve or leave immediately. Firms must "direct resources to retain and promote top talent" while focusing on "exiting underperformers as fast as possible," he added. In its annual report released Thursday, Revolut reported £1.1 billion in pretax profit for 2024 — up 149% from the previous year. The company now has over 52 million customers, and crypto-driven revenue from its Wealth unit tripled. It's also expanding into mortgages and lending, making internal oversight more important than ever. The Revolut USA Prepaid Visa® and Prepaid Mastercard® are issued by Metropolitan Commercial Bank pursuant to a license from Visa U.S.A. Inc. for Visa cards, and Mastercard International for Mastercard cards, and may be used everywhere Visa or Mastercard are accepted. Banking services are provided by Metropolitan Commercial Bank, Member FDIC, and are subject to the terms of a Cardholder Agreement. 'Metropolitan Commercial Bank' and 'Metropolitan' are registered trademarks of Metropolitan Commercial Bank © 2014. A note from Metropolitan Commercial Bank: Funds in your Revolut Prepaid Card Account are held at an FDIC insured institution. Your funds will be held at or transferred to Metropolitan Commercial Bank, an FDIC-insured institution. While there, your funds are insured up to $250,000 by the FDIC in the event Metropolitan Commercial Bank fails if specific deposit insurance requirements are met and your card is registered. See for details. FDIC insurance does not protect your funds in the event of Revolut's failure or from the risk of theft or fraud. See Terms & Conditions for details. Revolut is a financial technology company. Banking services provided by Metropolitan Commercial Bank, Member FDIC.
Associated Press
11-02-2025
- Business
- Associated Press
FV Bank Expands Leadership Team to Propel Next Phase of Growth
FV Bank, the digital bank offering a vertically integrated suite of traditional and digital asset banking and custody services, today announced two key leadership appointments to accelerate its growth across global markets. These strategic additions to the leadership team reflect FV Bank's continued commitment to delivering innovative enterprise banking solutions for international SMEs. David Carter joins FV Bank as Head of Card Programs. In this role he will spearhead the development and execution of FV Bank's card programs, ensuring seamless integration with FV Bank's other fintech offerings. Carter brings over 17 years of extensive banking experience, with particular expertise in Banking as a Service (BaaS), fintech, and payments. Prior to joining FV Bank Carter served as VP, Director of Implementation at Metropolitan Commercial Bank (MCB) for BaaS and fintech clients. Before MCB, Carter held executive roles including Director of Enterprise Banking at Echo Payment Systems and VP, Director of Client Operations at Republic Bank. 'David's deep understanding of fintech and payments, coupled with his proven track record in program development, makes him an ideal leader for our card programs,' said Miles Paschini, CEO of FV Bank. 'We look forward to his contributions in driving our growth and delivering exceptional value to our clients.' Kenneth Fox joins FV Bank as Head of Business Development — Americas. With more than 30 years of industry experience, Fox will drive strategic partnerships and expand the bank's presence across the Americas. Prior to joining FV Bank, Fox held executive positions at Paysign and Metropolitan Commercial Bank where he served as Vice President, Director of Business Development, Global Payments Group. Earlier in his career he held various leadership positions at Pathward and at Republic Bank including as Vice President, Director of Prepaid Business Development. 'Kenneth is a seasoned executive with extensive and diversified achievements in banking. We're delighted to welcome him on board to lead our business development efforts in the Americas and help us unlock new opportunities in those markets,' said Paschini. 'We are thrilled to welcome two outstanding new senior executives to our team whose extensive industry knowledge and passion for fostering strategic partnerships align perfectly with our vision for further expansion.' About FV Bank FV Bank is a fully licensed and regulated U.S. digital bank offering a vertically integrated suite of digital asset and traditional banking services. With a focus on innovation, security, and compliance, FV Bank is Banking the Future by providing USD banking, digital asset custody services, money market accounts, Visa debit cards, and stablecoin deposits and conversions, all accessible via a single, unified platform. David Lewis SOURCE: FV Bank Copyright Business Wire 2025. PUB: 02/11/2025 09:21 AM/DISC: 02/11/2025 09:21 AM
Associated Press
28-01-2025
- Business
- Associated Press
Metropolitan Commercial Bank launches enhanced consumer digital banking platform in partnership with ebankIT
MCB has partnered with ebankIT to launch a consumer digital banking platform that will enhance its clients' banking experience and accelerate onboarding. 'We are proud to partner with MCB. This platform not only simplifies onboarding and account funding but also provides the foundational capabilities for MCB to scale its digital offerings further.' — Paul Provenzano, VP Market Development at ebankIT. ATLANTA, GA, UNITED STATES, January 28, 2025 / / -- Metropolitan Commercial Bank (MCB) has launched a next-generation consumer digital banking platform, powered by ebankIT, marking a significant milestone in its digital transformation journey. The new platform offers MCB clients a fully digital, frictionless onboarding process, allowing for seamless online account opening and external account funding. It also enhances online transactions with features like Zelle, bill payment, and remote check deposit. Robust security is built in, with integrations for fraud prevention, KYC, account validation, and real-time support, ensuring both safety and ease of use. 'We are proud to partner with MCB in delivering an enhanced digital experience for their consumers,' said Paul Provenzano, VP Market Development at ebankIT. 'This platform not only simplifies onboarding and account funding but also provides the foundational capabilities for MCB to scale its digital offerings further.' This implementation was the successful integration of ebankIT's platform with MCB's existing core systems. This included introducing new third-party integrations with industry-leading partners. These integrations will provide cutting-edge solutions for account funding, fraud prevention, and customer interactions. This launch brings immediate advantages to MCB's clients, including faster and more convenient account activation, greater customer control over account funding, and access to multiple financial transactions and payment options in a secure digital environment. Building on the success of consumer banking, the next phase of the digital banking platform will extend digital capabilities to business and commercial accounts. About Metropolitan Commercial Bank Metropolitan Commercial Bank (the 'Bank', 'MCB') is a New York City based full-service commercial bank. The Bank provides a broad range of business, commercial and personal banking products and services to individuals, small businesses, private and public middle-market and corporate enterprises and institutions, municipalities and local government entities. The Bank offers specialized banking services tailored to the unique needs of diverse industries, including law firms, residential healthcare facilities, real estate property managers, government entities, charter schools, and global investors utilizing EB-5 financial solutions. MCB also provides expert support for title and escrow services, 1031 exchanges, and direct merchant acquiring, enabling faster setups, lower costs, and reduced risks for businesses. With personalized service and dedicated bankers and relationship managers, MCB empowers clients to navigate complex markets with confidence and ease. Metropolitan Commercial Bank was named one of Newsweek's Best Regional Banks in 2024 and 2025. The Bank was ranked by Independent Community Bankers of America among the top ten successful loan producers for 2024 by loan category and asset size for commercial banks with more than $1 billion in assets. Kroll affirmed a BBB+ (investment grade) deposit rating on January 25, 2024. For the fourth time, MCB has earned a place in the Piper Sandler Bank Sm-All Stars Class of 2024. Metropolitan Commercial Bank operates banking centers and private client offices in Manhattan and Boro Park, Brooklyn, within New York City, as well as in Great Neck on Long Island, New York. The Bank is a New York State chartered commercial bank, a member of the Federal Reserve System and the Federal Deposit Insurance Corporation, and an equal housing lender. The parent company of Metropolitan Commercial Bank is Metropolitan Bank Holding Corp. (NYSE: MCB). For more information, please visit the Bank's website at About ebankIT ebankIT is an industry-leading company that enables banks and credit unions to deliver the same humanized, personalized, and accessible digital experience on mobile, web, and voice banking, as well as whatever future channels may come next. Enhanced with flexible and robust full omnichannel capabilities, ebankIT Digital Banking Platform offers a fast and seamless digital banking transformation. With extensive customization capacity and a continuous focus on human interactions, ebankIT future-proves the digital strategy of banks and credit unions, empowering them with a truly customer-first approach. For more information visit X YouTube
