Piermont Bank Expands Fintech Partnerships and Emphasizes Risk Discipline
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On October 27, 2026, Piermont Bank CEO Wendy Cai-Lee said that when working with fintech clients, the bank should apply the same review standards as it does to large lending clients, strictly implementing due diligence, customer onboarding, and ongoing monitoring. She also emphasized that if a client violates reserve requirements, the bank should comply with the contractual terms. On the business front, Piermont is expanding its embedded banking services, involving beneficiary accounts, card issuance, and embedded lending, and recently established partnerships with BlxckPay and MassPay.
AI-written from reports · updated 2 hours ago
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- Banking DivePiermont Bank CEO: Strict risk discipline is crucial when working with fintech clients
Piermont Bank CEO Wendy Cai-Lee said banks should review fintech clients by the same standards as large lending clients, strictly conduct due diligence, onboarding and ongoing monitoring, and adhere to contractual terms when clients violate reserve requirements. Piermont is expanding its embedded banking services to cover beneficiary accounts, card issuance and embedded lending; it recently also established partnerships with BlxckPay and MassPay.
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