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This article was written by Stephen Sheinbaum who is the founder of Bizfi.
Small banks are the bedrock of businesses in many communities all across America. They are on Main Street with the businesses they serve, and they have relationships with these businesses that go well beyond the bank’s four walls.
As technology continues to drive more and more aspects of financial services, small banks have found themselves at an increasing disadvantage. They simply haven’t had the resources or the technological expertise needed to keep pace with modern lending.
Over the last year, there have been several collaborations between large banks and financial technology companies. ... (read more)