Banking giants and fintechs around the world are changing how they interact with customers and drive profit through digital transformation. Community banks and credit unions are now joining this revolution and embarking on their digital journeys. As smaller institutions, they are facing new and unique challenges. More and more, these banks with $10 billion or less in assets are running into roadblocks and asking: Why do 70 percent1 of digital transformations fail? And how should we tailor ‘digital’ to my community bank or credit union to avoid this?
To tackle this question, Capco’s digital community banking lead Aditya Udas joined in conversation with Will Pohl (Account Executive, Backbase) and Jeff Sinnott (President and CEO, Vantage Bank) in a webinar on Solving Three Challenges: Digital Transformation for Community Banks and Credit Unions. Here is what we learned – unexpected solutions for smaller institutions to reach success.