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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 ).

Lending 126
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Two Executive Views of Digital Transformation, and Why They Both Matter

Gonzobanker

Some examples: My colleague Ron Shevlin pointed out in a recent study conducted with StrategyCorps that Chime, the big dog challenger bank, now has nearly 8 million customers who consider it their primary bank. Community banks and credit unions, in total, have 56 million. That will be the reality at banks as well.