Ranking List
Written by Alden Seabolt, head of consumer banking at Blend, this article points out that banking has shifted from the past battle for deposits to a strategy centered on customer relationships. By drawing on the successful experiences of consumer brands such as Apple and Amazon, banks should focus on listening to customer needs, providing seamless experiences, and using data-driven personalization to build lasting partnerships.
During the pandemic, community banks faced liquidity pressures in providing SBA loans to small businesses. Converting pledged deposits into FDIC-insured reciprocal deposits can release capital, improve liquidity, and provide local governments with more competitive options. This article explores how this strategy works and its potential impact on the community economy.
The COVID-19 pandemic has forced banks to reduce branch operations, but financial services are designated as critical infrastructure. Diebold Nixdorf executive Octavio Marquez points out that multifunctional ATMs, remote tellers, cash recycling machines, and self-service equipment are becoming core means to fill service gaps and ensure the safety of customers and employees.
The COVID-19 pandemic has impacted global markets. Although the banking system is more robust than in 2008, external threats remain. Community banks should strengthen their personalized service advantages, demonstrating true value through humanized communication and professional advice amid customer anxiety and accelerated digital transformation.
Community banks are facing the challenge of the concept of 'community' shifting from geographical boundaries to interests and a sense of belonging. This article proposes three strategies: building a micro financial services ecosystem, deeply cultivating interest-based communities, and transforming physical branches into extensions of virtual experiences, to win the long-term loyalty of digital-native customers.
The era of open banking has arrived. Although private-sector working groups in the U.S. have developed voluntary standards, these alone cannot achieve full openness. Policymakers need to update federal regulations, establish rules for consumer data access, liability, and accountability, and ensure that working groups include diverse stakeholders to promote innovation and fairness.