Jim Marous, Co-publisher of the Financial Brand, Owner & CEO of the Digital Banking Report and Host of Banking Transformed joins us for our ongoing series – FTT Chats – where we sit down with the great and the good of FinTech to discuss innovation, new entrants, and emerging technologies.
In this FTT Chat, Marous discusses how the current Covid-19 crisis exposed the difference between those that were digitally prepared and those who were ‘faking digital’. The performance across financial services was not uniform and with regards to Community Banks and Credit Unions in particular, some did well and some did not do so well. Interestingly Marous notes that the smaller agile players and those at the larger end of the scale outperformed the middle range of institutions who are hampered by legacy processes and culture.
“Smaller organisations have the ability to pivot quickly…We have seen though during Covid that a lot of the smallest organisations and credit unions have done a really good job in serving, for instance, the small business marketplace…not only is there a challenge but a tremendous opportunity because during times of rapid change you have the ability to stand out if you are working on behalf of your members, your customers and small businesses.”
Watch the full interview now: