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Article: The Banks Are Small, But Project Payoffs Aren't.(Secial Report: Retail Delivery)(Survey)
- Article from:
- American Banker
- Article date:
- May 12, 2009
- Author:
CopyrightCOPYRIGHT 2009 SourceMedia, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: Rebecca Sausner and John Adams
Saving time and money were primary drivers of community bank information technology spending last year, as many of the country's smallest banks got squeezed, not typically from securitization woes, but from the housing freefall that crippled many retail borrowers and made lots of construction loans go bad.
Even before the crisis, the price of staying cost-competitive was weighing on small banks, and now it making them more attractive acquisition targets.
Celent LLC analysts say consumers will soon expect community banks to offer the same technology tools they can get from big banks, including mobile ...