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Pacific West Bancorp (OTCMKTS:PWBK) Stock In Focus After Announcing Strategic Partnership

In light of the development on Wednesday, it is quite likely that the Pacific West Bancorp (OTCMKTS:PWBK) stock may well come into focus among investors today.

Trading Data

On Wednesday, PWBK stock slid 1.36% to $10.85 with more than 615 shares, compared to its average volume of 1.48K shares. The stock moved within a range of $10.85 – 11.88 after opening trade at $11.88.

Pacific West Bank and Unit Announce Strategic Partnership

The company announced that its fully owned subsidiary unit Pacific West Bank went into a strategic partnership with the banking-as-a-service leader Unit. The partnership could well turn out to be a vital one considering the fact that it would lead to the embedding of banking services from Pacific West Bank into the products that are offered by Unit to its customers through its revolutionary platform.

The co-founder and Chief Executive Officer of Unit ItaiDamti spoke about the partnership as well. Damti noted that both the entities shared the value of quality, compliance and security. Thanks to the partnership, it would be possible for Unit to provide empowerment to more companies which are looking to create improved banking solutions of value.

 It is believed that the partnership is going to prove valuable for the growth of both companies. It should be noted that Unit is a company that is a trusted platform for more than 200 brands which wish to launch and scale up its financial products.

Published by Madison Hall

After graduating from the University of Buffalo, Madison gained a real interest in the markets. She tends to be a swing trader and enjoys Pilates and yoga in her downtime.

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