Story excerpt provided by Crain’s Cleveland Business.
Written by Jeremy Nobile.
Modern banks are becoming more like tech companies that happen to deliver banking services, and at least one local company has benefited from the evolution.
Customers increasingly are opting for mobile and Internet-delivered products and services, while frequenting physical branch locations less and less.
So it’s no surprise that banks are beefing up their focus on the growing financial technology sector — more commonly known as fintech — as they make strategic decisions on when, where and on what to invest in order to capture and retain business.
Just ask Akron-based Segmint Inc., which recently received a $9 million investment from an undisclosed “global fintech leader” to manage increased demand for services.
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Originally published November 28, 2014.