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May 11, 2016 10:30:00 AM

Can Community Banks and Fintech Firms be Competimates?

Since 2015, an estimated 4,000 fintech (“finance” + “technology”) firms have come into the marketplace, garnering more than $25 billion in capital. While that number is only a fraction of the value of the traditional banking industry, these companies are disrupting traditional financial businesses as they gained their share of customers. The influence of this market disruptor is undisputed. App based financial providers like Square, PayPal, Apple Pay, and Venmo came on the scene and quickly revolutionized how consumers exchange money.

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Topics: Innovation, Banking

Aug 19, 2015 1:00:00 PM

What Happens When Banks Meet Disruption with Innovation

John F. Kennedy once said, “Change is the law of life. And those who look only to the past or present are certain to miss the future.” Over the past couple months, we’ve taken an in-depth look at why it is important for banks to anticipate the future by making use of hard trends like technology advances, demographic change and globalization. 

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Topics: Innovation

Jul 30, 2015 10:00:00 AM

What Happens When Banks Stop Competing and Start Innovating

What comes to mind when you think about competition? For me, it is reliving my youth, going up against friends and peers at virtually everything. It is recalling the sweet taste of victory won by outhustling, outsmarting or simply refusing to give in.

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Topics: Innovation, Competition

Aug 7, 2014 10:00:00 AM

Fear of Change and Its Barrier to Growth

Jeff Bezos launched Amazon.com on July 16, 1995 with a vision of a virtual bookstore powered by (relatively uncharted) e-commerce technology. He built a strategy, took a chance, and within a few short months, Amazon had sold books in 45 different countries. Sales hit $20,000 a week – astounding for a start-up in any industry.

Some executives would have been content with these results. But as we know, Bezos didn’t let the fear of uncharted territory slow the company’s innovation, which has resulted in a record of tremendous growth and success.

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Topics: Community Banking, Innovation