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Innovation in Banking: Now is the time for community banks to invest in new technologies
The pandemic was a challenging time for many community banks, but that doesn’t mean it’s time to retrench after the fact. By planning ahead and proactively investing in banking innovation, community banks can prepare themselves to weather the next crisis — and make the most of future opportunities. Moving beyond a reactive mindset in banking No financial institution could have predicted the COVID-19 crisis, but community banks may have been less prepared than most. A July 2020 study found that unlike larger banks, many community financial institutions were not prioritizing the development of digital tools and other innovations in banking,…