article thumbnail

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.” Institutions are “spreading” financial statements for electronically provided tax returns or financial statements.

Lending 126
article thumbnail

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

Gonzobanker

This translates to lost revenue of $110 billion pre-tax at banks and $10 billion at credit unions. At some point, almost every fintech company has written off an investment or expenses. The post Two Executive Views of Digital Transformation, and Why They Both Matter appeared first on Gonzobanker. It involves trial and error.

article thumbnail

Reinventing the client advisor interaction model is the future of wealth management

Insights on Business

The industry is shifting to a digitally-enabled, holistic advice model , where clients are seeking advice on a variety of topics. Learn more about IBM’s digital strategy and transformation consulting practice. marriage, divorce, sudden job loss, new home buying, unexpected inheritance, etc.)