Community Banks Increase Use of Technology For Customer Service and Operational Efficiency
Seventy-three percent of community banks currently maintain an Internet site, and 74 percent of those banks offer banking services on the Internet, according to a recent survey conducted by the Independent Community Bankers of America and InFinet Resources.
Respondents to the survey, the most comprehensive technology survey by and for community banks, indicated that Internet banking, imaging-related technologies, systems security and determining whether to bring operations in-house or to outsource were foremost on the minds of community bankers. Highlights from the survey include:
- The technologies most likely to be reviewed by community bankers in the next 12 to 18 months, for the second year in a row, are applications that would permit statement delivery via e-mail.
- Over the last 12 months, 59 percent of the respondent banks had internal security assessments performed, while 55 percent underwent external security assessments.
- Although there are many vendors and processors in the financial services industry ramping up to provide image archive services to community banks, 50 percent of respondent banks indicated no interest in this technology.
The survey was completed by nearly 1,000 banks nationwide. Most of the nation's community banks are increasingly using and evaluating technology to provide services to customers and to lower operating costs. For complete results, visit ICBA's web site at www.icba.org, or InFinet Resources' web site at www.infinetresources.com.
ICBA is the nation's leading voice for community banks and the only national trade association dedicated exclusively to protecting the interests of the community banking industry. ICBA has 5,000 members with branches in 17,000 locations nationwide. Members hold nearly $511 billion in insured deposits, $624 billion in assets, and more than $391 billion in loans for consumers, small businesses, and farms. They employ more than 231,000 citizens in the communities they serve. For more information, visit www.icba.org and click on "Technology" for more technology resources or the "Join Us" banner for information on membership benefits.
InFinet Resource member firms are available to assist with technology (or any financial service) needs. The firms (noted above) form an alliance of independent advisory firms, all with extensive financial service practices. They collaborate to develop new products and services to better serve the needs of community banks. Visit www.infinetresources.com for member information
First published on BankersOnline.com 11/25/02
First published on 11/25/2002