Social payments methods like Venmo and Cash App continue to grow in popularity, and the data is there to prove it, creating an opportunity to give customers what they want: 24/7 access to cashless, P2P and mobile transactions. So how do social payments fit in community banks’ long-term future?
Agtech—the application of technology to every aspect of the food production process, from farm to table—is growing in importance to the mission of ICBA and community banks.
From data automation to merger prep, regtech can provide myriad ways to aid risk management. Two community banks tell us how they’re taking advantage of this technology.
During a digital reinvention, technology, customer experiences, employee expertise and business strategy all come into play. But a winning plan is within reach for community banks looking to embrace digital, according to two innovation-focused community bankers.
Community banks are the lifeblood of communities, but people are the lifeblood of community banks.
When Rockland Trust synced up with an ICBA ThinkTECH Accelerator grad to launch a virtual digital banking platform, it took relationships between the community bank and its customers to a whole new level.
It may be celebrating its 150th anniversary, but First National Bank of Fort Smith didn’t want presents this year. Instead, it gifted $500,000 to its local Boys & Girls Club for an ambitious renovation.
Innovation is taking place all around us at a pace unlike anything we have ever experienced. We’ve developed an ecosystem to foster growth through innovative partnerships and community involvement.
Despite possessing varying backgrounds, these community banks share similar approaches to innovating their technology and customer experiences.
Prompted by the pandemic, DIY banking services have grown at an increasingly quick rate. And as consumers—especially Gen Z and millennials—continue calling for more mobile options, community banks are stepping forward with new innovations and new tech partnerships.
