In this episode the host John Siracusa interviews Derik Sutton of Autobooks.co and they discuss the lost art of community and understanding of the personal needs of the customer within digital banking. They discuss the common thread that led to the creation and growth of most financial institutions, large financial technology companies, and today's Fintech startups. Banks and credit unions have the opportunity to once again collaborate with their technology partners to continue their important role of community building and serving.
Community banks and credit unions should be the financial hub for their small-medium business clients. But community institutions are losing large parts of those relationships to non-traditional providers like Quickbooks, PayPal, Xero and others. Traditional banking providers must take decisive action to stop the bleeding, counter the trend, and win back their commercial clients before it’s too late.