Bankrate reports that despite their limited resources community banks can effectively compete with big banks today; community banks have two big advantages over their larger counterparts: they can be more nimble and they are closer to their customers because they are part of the community; they should also consider partnering with fintech companies; the Independent Community Bankers of America created a fintech accelerator called ThinkTech to help facilitate partnerships between community banks and early stage fintech companies. Source.
Peter Renton is the chairman and co-founder of LendIt Fintech, the world’s first and largest digital media and events company focused on fintech. Peter has been writing about fintech since 2010 and he is the author and creator of the Fintech One-on-One Podcast, the first and longest-running fintech interview series. Peter has been interviewed by the Wall Street Journal, Bloomberg, The New York Times, CNBC, CNN, Fortune, NPR, Fox Business News, the Financial Times, and dozens of other publications.