Author: Piermont

August 7, 2024 — Piermont Bank, a fully chartered digital commercial bank, is pleased to join a new national initiative, the Advancing Communities Together Deposit Program, that enables institutional depositors to access higher aggregate levels of FDIC insurance across participating banks while also making a difference for underserved communities. “As the Nation’s first – and […]

Minority Depository Institutions (MDIs), as defined by the Federal Deposit Insurance Corporation (FDIC), are federal insured depository institutions either owned by minority individuals or have a majority minority board and serve primary minority communities. These institutions play a crucial role in fostering economic development and financial inclusion, particularly in underserved communities where traditional banking services […]

On January 24, 2024, Piermont Bank had the pleasure of hosting a panel discussion for Douglass Residential College and Institute of Women’s Leadership. By the topic of “When Women Lead: An Intergenerational Perspective”, the panel brought together a diverse group of women leaders from Rutger’s alumni including Wendy Cai-Lee, Founder and CEO of Piermont Bank, […]

Wendy Cai-Lee, founder and CEO of New York City-based Piermont Bank, in a recent interview to Banking Dive shared her insights on the trend of bankers establishing women-owned institutions to better service women-owned firms. Since its inception, Piermont made more than 50% of its lending in low- and moderate-income communities and to women- and minority-owned […]

BANKING AS A SERVICE In a conversation about BaaS relationships during Tearsheet Talks, Piermont Bank’s chief banking officer shares valuable insights on the dynamics of bank-fintech partnerships. Delve into the world of sustainable collaborations by learning how aligning incentives and leveraging expertise can reshape the future of banking. Banks, fintechs and technology companies all have […]