Summary
In this episode of the EYE ON: podcast, Robert Keil speaks with Jason Henrichs from Alloy Labs about the evolving landscape of community banking. They discuss the challenges and opportunities faced by community banks in a digital-first world, the importance of technology and data, and strategies for competing against larger banks. Jason shares insights on how community banks can leverage partnerships, innovate, and navigate regulatory challenges to thrive in the future.
Takeaways
- Jason Henrichs has 30 years of experience in financial services.
- Community banks excel in small business lending but struggle with deposits.
- Banking as a service offers community banks a competitive edge.
- Community banks should redefine their market beyond geography.
- Investing in technology is crucial for future growth.
- Data availability and payment systems are essential for success.
- Hope and prayer are not viable strategies for community banks.
- Community banks need to focus on unique niches to thrive.
- Collaboration among banks can lead to shared knowledge and success.
- Regulatory challenges require proactive engagement and data-driven solutions.
https://www.linkedin.com/in/jasonhenrichs/
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