A group of 37 community groups sent a joint letter to the FDIC opposing the ILC application for the fintech...
Two new surveys by Promontory Interfinancial Network and Dun & Bradstreet with Pepperdine’s Graziadio Business School point to a growing sense of...
What has been a standard feature at big banks for some time, real time messaging is now being offered by community banks who see the value in reaching customers more efficiently; the digital feature could also help the bank to reach more people who they would normally not have access to; “We can use it as a counseling tool to help strengthen relationships and improve a customer's financial health," said Ron Strand-Sorrell, EVP and COO at Axiom Bank, to American Banker as they recently rolled out the messaging; becoming more digital can also help the banks to better position themselves to attract millennials. Source.
Banks like Capital One have been investing in creating a cafe style space where people can come to drink coffee and work while also having interaction with a bank but not in the traditional branch way; the idea is to have the bank maintain a presence, get deposits but not have a full branch; “If you can imagine people popping these things up — the competition for community banks would get overwhelming,” said Robert Mahoney, CEO of the $2.5 billion-asset Belmont Savings Bank in Massachusetts, to American Banker. Source.
Making a strategic decision like what tech vendor to use for a community bank can make or break the future...
Community Banks are utilizing the plug and play partnership to innovate as it allows them to offer digital services in...
Community banks feel the pressure from fintech companies and big banks as technology is changing the way banks operate; a recent SourceMedia survey of 304 chief information officers of banks, credit unions and other financial services firms says 70 percent plan to invest more in technology in the near term; they are digitizing lending, making document collection easier, investing in mobile app technology and more. Source.
Deciding what new technology works best is a struggle that community banks are continuing to work through as they try...
In an op-ed on CNBC.com the president and CEO of the Florida Bankers Association writes about the importance of community...
Community banks and small regional banks say that working with fintechs has become essential to their businesses in order to...