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Commercial customers are typically a bank’s largest revenue stream. Meeting their needs and providing top-notch experiences for them is a high priority, but most financial technology is not built or suited for commercial customers or complex relationships.
With tightening margins, inflation, and high interest rates, community bankers face not only a challenging lending environment, but also a battle to sustain deposits. Customers are more knowledgeable than ever and are prepared to shop across multiple channels to find the right fit for their deposit needs. So how can community financial institutions look to compete with larger banks and credit unions to attract those customers?