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Who Owns Digital? Ugh, That’s the Problem for Bankers

Gonzobanker

Bank executives are coming to understand that in today’s world, the customer experience (CX) is the product, although not all have made a serious commitment to address newfound competition. The bottom line is this: most banks lack the true management leadership and operating disciplines necessary to execute successfully on digital.

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Traditional Bank Stakes Its Future on Daring Digital Strategy

The Financial Brand

Community bank goes modern in a big way by pioneering a new core system and partnering with an unusual fintech-powered mobile banking club. The post Traditional Bank Stakes Its Future on Daring Digital Strategy appeared first on The Financial Brand.

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Is Small Business Lending Facing a ‘Moment of Reckoning?’

Gonzobanker

article , former Small Business Administration administrator Karen Mills said community banks with strong small business customer bases that don’t find new ways to serve them digitally are going to face a “reckoning.” Ready to compete against big banks, fintechs and non-bank lenders? Source: DeBanked ).

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Two Executive Views of Digital Transformation, and Why They Both Matter

Gonzobanker

Executives at the financial institution who have responsibility for customer service, digital banking and retail sales have one perspective. Community banks and credit unions, in total, have 56 million. At some point, almost every fintech company has written off an investment or expenses.

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Biggest Mistake in Digital Strategy Is Forgetting Client Relationships

American Banker

Digital tools improve a bank's traditional sales process, but relationship-based banking is still a huge factor in winning over millennial customers.

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Innovation All the Time

Independent Banker

Even with technology’s increasing influence on retail banking, it’s not typical for a community bank to have one of its most senior and trusted executives concentrate primarily on leading consumer product and payments innovation. billion-asset, 85-branch community bank based in Rockland, Mass., is not typical.

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37 Corporate Innovation Labs In Finance

CB Insights

As fintech plays a larger role in the financial ecosystem, companies are looking for ways to use tech to solve problems and find new opportunities in the space. Deutsche Bank labs connect technology startups with the bank’s internal teams, enabling them to adapt new products and solutions to better serve clients and employees.