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.
Much of the attention in the payments industry goes toward the consumer-facing side of the relationship. It shouldn't be a complete surprise because the success of new technology ultimately resides in the hands of customers who are willing to test out and, hopefully, embrace the latest and greatest systems. However, banks and financial services providers play a major role in enabling merchants to deliver innovative experiences to their customers.