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?
Category: Trends
Charles Potts: Agtech’s innovation opportunities
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.
Regtech’s role in risk management
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.
The in-branch experience made virtual
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.
Charles Potts: Strengthening human connections
Community banks are the lifeblood of communities, but people are the lifeblood of community banks.
Innovation Conversations: Rockland Trust
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.
A gift that will keep on giving
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.
Charles Potts: Fueling growth through innovation
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.
Finding a common ground
Despite possessing varying backgrounds, these community banks share similar approaches to innovating their technology and customer experiences.
The DIY banking services customers expect
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.