FinTech startups have brought a new level of innovation to core banking functions such as payments and lending, to name just two areas. Simplicity, ease of use, and speed have been critical to their success.
The rapid growth in digital banking (and the success of the upstart companies offering these services) have left established banks and financial institutions eager to protect their customer base – and hungry to compete on a more level playing field.
The secret to doing so is that there is no secret.
Emerging FinTech companies have built new services and offerings with customer experience at the forefront. These companies think more like software vendors than financial institutions and are carving into the profits and the very substance of what regional and community banks have done for generations.
These financial disruptors have none of the history, infrastructure, and trust of regional and community banks. But they also do not have the burden of legacy technology.
This eBook Guide, “Building the Digital Bank: A Roadmap to Modern Infrastructure for Regional & Community Banks,” explores the key questions facing established financial institutions looking to modernize:
- How can financial institutions compete with digital upstarts when they do not have the luxury of a blank technology and product canvas?
- How can a regional or community bank with little to no research and development budget hope to beat a venture capital-backed disruptor from Silicon Valley or NYC?
- What are the components of a practical modernization plan?
The answer has multiple parts, but the good news is that the opportunity is there.
Start your journey with this roadmap to building the digital bank.