Delaware is small but diverse. As you travel around our three counties, you discover a lot to be learned from the success of our neighbors. We all benefit in the end if we engage in conversation and collaboration to generate job creation. The innovations created from these partnerships will help businesses thrive in Delaware.
On October 5, the Delaware State...
CorriXR Therapeutics, Inc., a Delaware-based cancer-focused biotherapeutics company developing breakthrough technology that overcomes drug resistance in solid tumors, announced that Deborah Moorad, has been named the company’s new chief executive officer.
Moorad, who previously served as CEO of Nature Technology Corp., and is an Entrepreneur-in-Residence at Cortado Ventures, succeeds co-founder Eric B. Kmiec, Ph.D., who has been appointed chief...
Discover Bank has launched the Discover Financial Health Improvement Fund, to support startups and early-stage technology companies that are developing solutions to improve the financial health of low- and moderate-income people, communities, and small businesses in Delaware.
Discover Bank made an initial capital commitment of $36 million.
“We continually explore innovative ways to support our communities in...
The Consumer Financial Protection Bureau has warned businesses and individuals that digital payment apps may not be safe in the event of financial problems, since the funds may not be held in accounts with federal deposit insurance coverage.
“Popular digital payment apps are increasingly used as substitutes for a traditional bank or credit union account but lack the same protections to ensure that...
North Wilmington-based Marlette Holdings, Inc., owner of the Best Egg financial platform announced the official change of its name to Best Egg, Inc.
This strategic move underscores the company's commitment to market clarity, consistency, and alignment with its well-established Best Egg brand, a release stated.
Best Egg has focused on using customer insights, and harnessing data...
Wilmington-based WSFS Bank and the Philadelphia Union soccer team have launched a co-branded debit card.
The card features the Philadelphia Union logo and colors The card is available to new and existing WSFS Bank Customers via online account opening or in-person at any WSFS Banking Office.
The card allows access to more than 600 WSFS ATMs in the region. WSFS was...
Delaware consumers who ended up paying for TurboTax software, even though they were eligible for free preparation software, will benefit from a $141 million multistate settlement announced this month.
Approximately 4.4 million consumers nationwide will receive checks in the mail. Delaware will receive more than $430,000 for 14,187 consumers who paid to file their federal tax return. Eligible...
A WSFS iexecutive is telling customers the bank is not facing problems that led to the seizure of two banks.Executive Vice President and Chief Consumer Banking Officer Shari Kruzinski wrote in an email message to customers that the decision by the Federal Deposit Insurance nCorp. to take control of Silicon Valley Bank and Signature Bank was ...
The Wilmington Trust, N.A., the wealth management and corporate and institutional services and a wholly-owned subsidiary of M&T Bank Corporation announced an agreement with Madison Dearborn Partners, LLC, a private equity firm based in Chicago.
Financial terms were not disclosed.
Funds affiliated with MDP will acquire Wilmington Trust's Collective Investment Trust ("CIT") business. Upon completion of the transaction, the CIT...
Marlette Holdings, Inc., north Wilmington, announced the acquisition of Till, Inc., a flexible rent platform. Till will be rebranded under Marlette's Best Egg brand and incorporated into the Best Egg financial platform.
Financial terms of the acquisition of the Alexandria, VA, company were not disclosed. Both Til and Marlette are privately held. Marlette has 300 employees.
Till’s flexible rent platform...
Company will retain Wilmington workforce
The Bancorp, Inc. has completed the charter conversion process for its bank unit with the Office of the Comptroller of the Currency.
The bank changed over from its Delaware charter and now operates as a national bank.
A regulatory filing states that the bank will maintain a branch office in the Wilmington area, while moving its headquarters...
An analysis of an annual report from Federal Deposit Insurance Corp. shows Wilmington-based WSFS Bank extending its Delaware market share lead over M&T Bank.
WSFS now has a 23% market share, based on deposits from "full service" banks.
According to FDIC reports, WSFS moved ahead of M&T in 2019, about a decade after the Buffalo-based financial institution acquired...
Capital One plans to open an innovation center City Philadelphia as it works to deal with technology challenges, the Philadelphia Business Journal reported.
The center will employ 100 people. The financial services company leased more than 22,000 square feet on a building on Market Street in Philadelphia.
Like other companies, CapitalOne has tapped into the Philadelphia labor market and a pipeline...
INFLATION, POOR CREDIT AREAS OF CONCERN
Nearly three-quarters of Americans (72%) feel confident they will achieve their financial goals, according to a new WSFS Bank survey.
WSFS is based in Wilmington
However, 39% said they’re not confident they can keep pace with inflation’s impact on goods and services, and nearly a quarter say having poor credit prevents them from using financial...
Ally Financial, one of the nation’s largest digital financial services companies, is growing its employee base in Wilmington.
In December 2021, the company completed its acquisition of Wilmington-based Fair Square Financial, an online-focused credit card provider. By the end of 2021, its credit card balances had grown to $953 million, up 66% year-over-year, with 756,000 customers, up 67% year-over-year.
Fair...
