Many years ago, a downstate Illinois bank president argued against installing a new device called an automated teller machine. He asserted bank patrons preferred humans to machines. Years later, the banker used the anecdote as an ice breaker in speeches, poking fun at himself for failing to spot an important banking trend.
Let’s take a look at 3 key community banking trends that can benefit your company:
- Fraud prevention - Community bankers have become increasingly vital partners in helping companies prevent fraud and maximize security. Seek out your banker for a candid discussion about cutting-edge fraud prevention strategies. Such programs may include positive pay, ACH blocks and filters and other approaches that can help safeguard your company against unauthorized transactions.
- Advanced mobile banking - Increasingly sophisticated mobile banking options are allowing companies and individuals to save time and money. They include access to real-time account balances, transfers, initiate bill pay, confirm ACH and wires, mobile deposits and customized text messaging options.
- Greater local involvement - You’ll find community banks placing a greater emphasis on “lending a hand”. From supporting local commerce associations and charitable organizations to conducting financial education programs to help schools and businesses, community banks strive to improve quality of life in their market areas.
Today, community banks provide fresh levels of responsiveness with better digital technology and personal service. Proactive executives take advantage of these trends to make their personal and company’s financial goals become a reality.
What banking trends are most important to your company?