Community Banks Fear Cafe’s by Banks Could Hurt Them

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.

  • Todd Anderson

    Todd is the host of PitchIt: the fintech startups podcast, a weekly interview show featuring emerging fintech founders and leading venture capitalists. He is responsible for leading the content team which covers fintech through daily & weekly email newsletters, editorial, virtual events, and in-person conferences. He has been covering fintech, banking, and venture capital for more than 15 years, including speaking regularly at industry events.