US challenger Rising Bank rises up in Midwest
Out in the Midwest, US challenger Rising Bank has strolled into fintech town hellbent on making a life of cool digital content.
♫ Risin’ up to the challenge of our rivals ♫
The new digital bank is a division of Missouri-based Midwest BankCentre (MBC), which is an old timer and founded in 1906.
“The Rising Bank team is focused on a range of innovations and improvements in the banking process, as we work to make the community banking experience digital,” says Midwest BankCentre CEO Orvin Kimbrough.
According to the good folks at MBC, Rising Bank will offer “state-of-the-art” cybersecurity for users across all Internet-connected devices, including smartphones, tablets and computers.
Customers can open a new account in less than five minutes, and all Rising Bank accounts are Federal Deposit Insurance Corporation (FDIC) insured up to $250,000 per individual account and up to $500,000 per joint accounts.
Rising Bank will initially offer a range of certificates of deposits (CDs) and high yield savings accounts.
FinTech Futures contacted MBC for some tech details. It told us that Rising Bank is using MBC’s core banking system supplied by Jack Henry, “augmented by a new website and online application tool, all responsive, dynamic ADA [Americans with Disabilities Act] compliant technology”.
The newbie won’t be the only face in the wild and fiery banking saloon (sorry, I just love Westerns). Check out our comprehensive list of US challenger banks here.
