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.
Why Relationships Still Matter: How Community Banks Saved The Country During Covid-19 Republic’s First Three Real Estate Offerings Have Already...
In Forbes, Ron Shevlin discussed the new initiative from Mark Cuban and Jill Castilla, CEO of Citizens Bank of Edmond,...
Bankrate reports that despite their limited resources community banks can effectively compete with big banks today; community banks have two...
With community banks pulling back on lending to small businesses vertical software platforms are filling the void. They provide software, of course, but are increasingly also providing access to capital.
Mastercard has teamed up with Urban FT and the payment services subsidiary of the Independent Community Bankers of America to...
More than 60 percent of community banks are not even considering using robotic process automation (RPA) according to a new...
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Community banks have faced increased challenges. Open access to generative AI and a possible open banking ruling may be a game changer.
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.
Many community banks have been having a difficult time in recent years as banking becomes ever more intertwined with technology....