As the definition above implies, DeFi is not necessarily the friend of community financial institutions. In its purest form, it seeks to completely eliminate the need for traditional FIs in much the same way that Travelocity, [...]
Before we get into what cryptocurrency is, it’s important to clarify what cryptocurrency isn’t. Specifically, cryptocurrency is not blockchain. The two are connected at the hip, but you can’t use these terms interchangeably. Simply stated, blockchain [...]
To understand distributed ledger technology, or DLT for short, you first need to understand the difference between blockchain and cryptocurrency. It’s easy to conflate these two, so let’s be very clear. Blockchain is a technology platform [...]
This may seem like a simple enough definition. However, within its confines lies two completely opposite business models. Exactly how you describe BaaS beyond this definition depends on who is supplying the digital services and who [...]
Do you remember about 20 years ago or so when account aggregation first became a thing? Various companies, known as account aggregators, allowed consumers to view their accounts from multiple institutions on a single screen. [...]
You can achieve amazing things if you have a very audacious, bold goal and coherent vision to motivate your team and push your team to get there. Digital transformation is [...]
Aaron Wollner, CMO at Quontic Bank, talks about online banking, brand development, and digital transformation. If you want to develop a brand voice and connect with a broader audience, it [...]
If you are a community bank, there is no reason to fear for your survival. Big banks are not your competition because they are not close enough to their customers as you are. [...]
If you want to attract younger consumers, you must innovate. You can use products or services from one vendor or expand your relationships and use niche products from niche service providers. Each community [...]
Fintech is a highly competitive space. But one vendor can't be everything for everyone. Sometimes collaboration between competitors is the best solution. Community FIs must acknowledge the power of data. Leveraging it is [...]