Banks Size Impacts Their Technology Offering
The larger the community bank, the greater importance of new and emerging technologies, finds to a recent analysis of the CSBS 2018 Community Bank Survey.
The majority of banks over $800 million reported that adopting new and emerging technologies was very important, while smaller banks gave it far less importance, according to a report by Temple University professors William C. Dunkelberg and Jonathon A. Scott. The banks showed a similar pattern when responding to the importance of being a local market leader in technology adoption.
In addition to financial technology use, the 521 community banks from 37 states answered questions about trends in small business and other lending, banking services, mergers and acquisitions and management succession.
The annual survey is released each year at the annual Community Banking in the 21st Century research and policy conference held in October each year at the Federal Reserve Bank of St. Louis.