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Fiserv, Rutgers-Newark forge alliance to promote diversity in fintech
The effort, dubbed the Fiserv-RU-N Program for Inclusive Innovation, will establish a research and incubation space on the campus for the university community and local businesses. The initiative will also provide annual scholarships for undergraduates over five years and support career modules to prepare students for internships and jobs.
Beyond founder names new CEO and president
Mike Peters brings nearly 40 years of industry experience to the Princeton-based fintech, including leading TSYS Merchant Solutions, based in Columbus, Ga.
Jersey City fintech names new CEO
Terry Angelos – who most recently served as senior vice president, global head of fintech and crypto at Visa – will take the reins from DriveWealth LLC founder and current CEO Bob Cortright.
NJEDA begins process to create statewide fintech center
“Gathering insights into how a fintech innovation center could contribute to the economic vitality and quality of life in the State will help us identify best practices and innovative ideas for developing a successful center that makes sense for New Jersey in terms of its long-term economic competitiveness," CEO Tim Sullivan said.
MoCaFi named to Fortune’s 2021 Impact 20 list
The Newark-based fintech is the only company from New Jersey to make the ranking, which recognizes venture- and private equity-backed startups with a focus on remedying social and environmental issues as part of its business model.
NJ approves $109M tax break to attract fintech Fiserv
Under the agreement, the firm would keep or create a combined 3,000 new jobs at a Berkeley Heights office and spend $105 million to “improve and relocate to a mostly vacant office building” in the Union County suburb.
New challenges ahead
Banks avoided a COVID-19 meltdown thanks to their ability to work with borrowers and other customers, and to a healthy dose of federal programs that directed money into the pockets of individuals and businesses. But financial institutions are now facing some other challenges, including the rise of fintechs. Bankers in the Garden State, however, plan to hang tough.
Princeton fintech Beyond names new president
Brent Rose was elevated to the role after a successful stint as chief revenue officer, during which time the company outperformed the U.S. small and medium-sized business acquiring market in year-over-year growth by 40%.
Stevens, Rensselaer to establish first NSF-backed FinTech Research Center
Among its initial areas of focus will be cybersecurity; high-frequency automated markets; technology risk and regulation; commercialization; and applications of blockchain, quantum computing, natural language processing, artificial intelligence and machine learning.
NJCU, NJEDA to establish sports betting, fintech hub
Online sports wagering technology and financial technology sectors get a boost with $200,000 in funding and staff resources that will bolster the center’s goals of providing an incubator for the industries and acting as a connector between industry, academia and relevant state agencies.
Cross River acquires data and analytics firm PeerIQ
The purchase will build on the Fort Lee-based financial institution's comprehensive suite of offerings, utilizing technology-enabled data and ultimately providing more transparency to the marketplace and the industry.
Cross River launches VC arm to propel fintech startups
The Fort Lee-based institution hopes to provide strategic support to early-stage companies to fuel and strengthen the next wave of innovation.
