The just-released survey, Community
Banking in the 21st Century, 2016, by the Federal Reserve
documents the key concerns and issues facing community banks. The results show community banks recognize as their largest threat to their deposits and payments
services as the technology-based non-banks. However, only 17% see such technology as threatening their consumer and small business lending.
Community Banks See Non Bank Technology Biggest Threat for Deposits and Payments...
...But Are Less Concerned About Non Bank Technology for Consumer and SMB Loans.
As Bain and Company pointed out in "Banks Wake Up to Digital Lending," they would be wise to see technology is already changing their lending marketplace. As Trans Union shows below, for example, digital online lending now outpaces bank and credit union lending.
To learn how your community bank can provide digitally in minutes on any smart device consumer and small business loans under your brand, your balance sheet, your underwriting and your control, join us for our free webinar on October 11th at 2:00 pm
EST. Click here to sign up.
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