Community and regional banks may not be able to outspend their larger rivals, but they can be more nimble in implementing the necessary culture change.
Susan Ehrlich, the fintech lender's new chief, discusses what she learned working at Amazon and Simple and how her firm is approaching consumer loans differently.
Trying to keep pace with big banks that digitize as many processes as possible will undercut community banks’ strengths, according to speakers at this year’s ICBA convention.
An executive at the Rhode Island company said the complexity of business lending remains an obstacle to switching to entirely automated, paperless operations.
The credit card network has teamed up with an ICBA unit and the fintech Urban FT to offer a payments services program tailored to community banks trying to keep pace with bigger banks.
As competitive pressures mount for midsize banks, more institutions are likely to follow the lead of BB&T-SunTrust and amass more resources for investing in AI, digital platforms and other cutting-edge technologies.
