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Community Service with the Personal Touch

Banking 2020

Question: Community branch, personal service, mobile banking—which is the odd one out? For some time now, there have been discussions about the future of community banks in the age of digital banking. Answer: None. Otherwise, the industry is in trouble. Things are and will be very different, no doubt about that.

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This Week’s Reads: Underbanked, DIY Banking, Community Banks

Banking 2020

Delivering More Than DIY Banking: While the DIY, or do-it-yourself, banking model may have worked in the past, today’s consumers expect technology to help them with all aspects of their lives and banking is no exception. Is there hope for community banks?: What have you been reading?

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Bank CEOs to Focus on Digitization, Talent Development in 2020

ABA Community Banking

A majority of bank CEOS—68%—are confident about their bank’s prospects for revenue growth in 2020, according to the Community Bank 2020 Priorities Survey released by ABA today. The post Bank CEOs to Focus on Digitization, Talent Development in 2020 appeared first on ABA Banking Journal.

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This Week’s Reads: Wearable Technology, Mobile Payments, Digital Transformation and Industry Insights

Banking 2020

The Widening Worldwide Reach of Wearables: According to International Data Corporation, wearable technology such as smartwatches, smarter clothing, and eyewear will be more ubiquitous than ever in the near future. The Biggest Threat to Community Banks Is Thinking Small: L.T.

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Even in pandemic, small banks forge ahead with core conversions

American Banker

Many community banks, like Peoples Community in Wisconsin, say they proceeded despite the technological challenges presented by social distancing because the crisis has exposed the shortcomings of their digital systems.

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This Week’s Reads: Digital Banking, Innovation and Payments

Banking 2020

Reality checks for community banks switching to a digital model: There is a lot of talk about digital banking however, not all digital banking falls under the same umbrella. Community banks must examine what cultural, operational and marketing shifts will happen when they adopt digital banking initiatives.

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Live Oak outpaces larger rivals in moving core system to public cloud

American Banker

The North Carolina bank deployed Finxact's new technology, which runs on Amazon Web Services, to make Paycheck Protection Program loans and will use it next to offer business savings accounts and CDs.