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.
Florida based Axiom Bank launched a new all digital account targeted at the unbanked; Axiom partnered with fintech company Malauzai to help design and launch their mobile app; "For many in our community, AxiomGo provides the first tangible banking experience that not only eliminates expensive fees, but also enables them to perform any banking transaction needed at any time of day,” says Ron Strand-Sorrell, the bank's chief operating officer, in a release reported by American Banker. Source.