Bankrate reports that despite their limited resources community banks can effectively compete with big banks today; community banks have two...
In an opinion piece on American Banker, General Counsel of US Century Bank argues that community banks could gain a lot from using blockchain technology; unlike big banks they don't have resources to test ideas and spend millions of dollars; pooling their resources or joining a consortium would be the best way forward to begin to test usages of the technology; engaging with the big four bank vendors is another idea; FIS, Fiserv, Jack Henry and D+H provide the core banking software at most banks and ensuring a dialogue with them is crucial; increased efficiency can help community banks stay competitive in an environment that is becoming more crowded by the day. Source
There are 4,600 banks in the U.S. with $1bn or less in assets which accounts for 6.6 percent of all...
To attract the next generation community banks have their work cut out for them. But there are steps any bank can take to make themselves more attractive to millennial and Gen-Z consumers.
Marketplaces are dominating so many areas of business these days. There are Airbnb, Uber, eBay, Etsy and of course the...
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.
In Forbes, Ron Shevlin discussed the new initiative from Mark Cuban and Jill Castilla, CEO of Citizens Bank of Edmond,...
We have another busy week of great sessions for LendIt Fintech Digital: Tuesday 12pm ET – The Power of Mental...
·
Community banks have faced increased challenges. Open access to generative AI and a possible open banking ruling may be a game changer.
Kevin Tweddle is Group EVP for Innovation and Financial Technology at the ICBA which is the leading trade organization representing...