With all the different types of banks available today, it can be hard to narrow down a decision on who to use for your small business financial needs. One of the top financial choices to consider within your local area is selecting a community bank. According to FDIC statistics, as of 2010 community banks represent 92.4% of all banks while controlling 14.2% of total bank assets in the United States.
Smaller, regional, community banks have the advantage over national banks in quality customer service, but larger financial institutions tend to take the lead in mobile and online banking solutions. By integrating payment solutions into your community bank, you can boost the level of service you are able to provide your valued merchants to an even higher level.
In the rapidly advancing world of technology, banks have to make strategic moves to keep up with the competition. With all of the recent cyber security breaches, gaining back customer trust is an integral issue for banks in order to continue business.