Unlike the high-profile hacking incidents at big banks, smaller institutions have their own breed of threats such as cyberextortion that they must focus on in strengthening their security.
The competitive environment has raised the importance and profile of marketing, but many banks are still trying to market themselves on a shoestring budget.
Legacy core systems make banks vulnerable to new competitors and risks. Modernization is underway, but many institutions are not moving fast enough. The risk of waiting too long is that it will take too long to catch up.
At a time when banking executives face constant change in the industry, it is time for community bankers to share what has worked hasn't worked for them to narrow the knowledge gap.
There is a time, a place and a customer base for pseudonymous cryptocurrency. For regulated financial institutions, other types of shared ledgers Â-- those whose validators are legally accountable for certain terms of service Â-- may provide unique utility.
Although millennials are less trusting of financial advisors than older investors, there are still ways for wealth management firms to court younger clients.
All participants in financial services will have to start behaving, thinking, organizing themselves as technology companies and focus on three things: technology, data and customer (or, better yet, user) experience.
