Issue link: https://nebusinessmedia.uberflip.com/i/1186718
W W W. M A I N E B I Z . B I Z 23 N OV E M B E R 2 5 , 2 0 1 9 F O C U S B A N K I N G / F I N A N C E about more competitors entering the fray, saying, "It's making banks better, it's making WEX better, and giving WEX a new market opportunity. Part of what we do is arm them with our best-in-class payment technology." Fintech's growing appeal Investopedia describes fintech as new technology that seeks to improve and automate the delivery and use of financial services. Startup businesses in the space are also commonly referred to as fintechs. Mainstream consumer examples include ride-sharing services like Uber and Lyft, Apple Pay and mobile banking. An Ernst & Young report in June found that close to two-thirds of digitally active consumers worldwide use fintech, and more than a quarter of 1,000-plus organizations surveyed used fintech for banking and payments, financial management, financing and insurance in the last six months. E&Y Americas Fintech Leader Matt Hatch said at the time he expects the trend to accelerate, as nonfinancial players enter the space and use technology and innovation "to provide frictionless, trans- parent and highly personalized service." Zero fees and transparent pric- ing are often another advantage over banks and other traditional financial services providers. Zipping along Portland's fintech scene has roots going back to the 1980s, with WEX predeces- sor Wright Express and First Merchants Bancard Services, founded by brothers Steve and Jim Goodrich in the Time & Temperature Building, where they We help businesses of all sizes and industries write their own success stories Structural Steel Fabricator $18,000,000 Lines of Credit & Term Debt Refinance Apartment Complex $39,000,000 Construction & Permanent Financing Office Building & Parking Garage $17,000,000 Acquisition Financing Upscale Franchised Hotel $28,000,000 Construction & Permanent Financing Insurance Agency $6,000,000 Term Debt Refinance Building Supply Company $3,000,000 Term Debt Talk to our team today to see how we can help you drive the success of your business and achieve your growth goals. We help businesses of all sizes and industries write their own success stories Daryl Wentworth, SVP Director Middle Market Banking 207-771-1216 dwentworth@barharbor.bank Joe Delano, SVP Relationship Manager 207-771-1217 jdelano@barharbor.bank Sam McGee, SVP Relationship Manager 207-667-4927 smcgee@barharbor.bank Adam Robertson, SVP Relationship Manager 207-945-5244 arobertson@barharbor.bank Office Building & Parking Garage $17,000,000 Acquisition Financing Personal Banking · Business Banking · Wealth Management Over 50 locations in Maine, New Hampshire & Vermont Member FDIC www.barharbor.bank Structural Steel Fabricator $18,000,000 Lines of Credit & Term Debt Refinance Insurance Agency $6,000,000 Term Debt Refinance Upscale Franchised Hotel $28,000,000 Construction & Permanent Financing Apartment Complex $39,000,000 Construction & Permanent Financing Building Supply Company $3,000,000 Term Debt Talk to our team today to see how we can help you drive the success of your business and achieve your growth goals. Daryl Wentworth, SVP Director Middle Market Banking 207-771-1216 dwentworth@barharbor.bank We help businesses of all sizes and industries write their own success stories Daryl Wentworth, SVP Director Middle Market Banking 207-771-1216 dwentworth@barharbor.bank Joe Delano, SVP Relationship Manager 207-771-1217 jdelano@barharbor.bank Sam McGee, SVP Relationship Manager 207-667-4927 smcgee@barharbor.bank Adam Robertson, SVP Relationship Manager 207-945-5244 arobertson@barharbor.bank Office Building & Parking Garage $17,000,000 Acquisition Financing Personal Banking · Business Banking · Wealth Management Over 50 locations in Maine, New Hampshire & Vermont Member FDIC www.barharbor.bank Structural Steel Fabricator $18,000,000 Lines of Credit & Term Debt Refinance Insurance Agency $6,000,000 Term Debt Refinance Upscale Franchised Hotel $28,000,000 Construction & Permanent Financing Apartment Complex $39,000,000 Construction & Permanent Financing Building Supply Company $3,000,000 Term Debt Talk to our team today to see how we can help you drive the success of your business and achieve your growth goals. Joe Delano, SVP Relationship Manager 207-771-1217 jdelano@barharbor.bank We help businesses of all sizes and industries write their own success stories Daryl Wentworth, SVP Director Middle Market Banking 207-771-1216 dwentworth@barharbor.bank Joe Delano, SVP Relationship Manager 207-771-1217 jdelano@barharbor.bank Sam McGee, SVP Relationship Manager 207-667-4927 smcgee@barharbor.bank Adam Robertson, SVP Relationship Manager 207-945-5244 arobertson@barharbor.bank Office Building & Parking Garage $17,000,000 Acquisition Financing Personal Banking · Business Banking · Wealth Management Over 50 locations in Maine, New Hampshire & Vermont Member FDIC www.barharbor.bank Structural Steel Fabricator $18,000,000 Lines of Credit & Term Debt Refinance Insurance Agency $6,000,000 Term Debt Refinance Upscale Franchised Hotel $28,000,000 Construction & Permanent Financing Apartment Complex $39,000,000 Construction & Permanent Financing Building Supply Company $3,000,000 Term Debt Talk to our team today to see how we can help you drive the success of your business and achieve your growth goals. Sam McGee, SVP Relationship Manager 207-667-4927 smcgee@barharbor.bank We help businesses of all sizes and industries write their own success stories Daryl Wentworth, SVP Director Middle Market Banking 207-771-1216 dwentworth@barharbor.bank Joe Delano, SVP Relationship Manager 207-771-1217 jdelano@barharbor.bank Sam McGee, SVP Relationship Manager 207-667-4927 smcgee@barharbor.bank Adam Robertson, SVP Relationship Manager 207-945-5244 arobertson@barharbor.bank Office Building & Parking Garage $17,000,000 Acquisition Financing Personal Banking · Business Banking · Wealth Management Over 50 locations in Maine, New Hampshire & Vermont Member FDIC www.barharbor.bank Structural Steel Fabricator $18,000,000 Lines of Credit & Term Debt Refinance Insurance Agency $6,000,000 Term Debt Refinance Upscale Franchised Hotel $28,000,000 Construction & Permanent Financing Apartment Complex $39,000,000 Construction & Permanent Financing Building Supply Company $3,000,000 Term Debt Talk to our team today to see how we can help you drive the success of your business and achieve your growth goals. Adam Robertson, SVP Relationship Manager 207-945-5244 arobertson@barharbor.bank Member FDIC Personal Banking · Business Banking · Wealth Management Over 50 locations in Maine, New Hampshire & Vermont " FAME's commitment to the growth of our business strengthens our own commitment to our employees, industry, and community." JB Turner President & General Manager FRONT STREET SHIPYARD WE HELP YOU GET TO yes ! Helping Maine Businesses Succeed Since 1983 1-800-228-3734 • FAMEmaine.com Best Places to Work in Maine 2015, 2016, 2017, 2018, 2019 C O N T I N U E D O N F O L L OW I N G PA G E » LESSONS FROM FINTECH ENTREPRENEURS Focus on a problem and not a solution because no matter how smart you are, the solution almost always changes. — Mike Vien Wallit P H O T O / C O U R T E S Y O F WA L L I T