Smaller banks are behind on technology
"While larger banks are more likely to create custom technology for their online banking and mobile banking … we can provide essentially the same state-of-the-art services in a timely manner," says Edward Manzi Jr., chairman and CEO of Fidelity Bank, a community bank based in Leominster, Massachusetts.
Recently, Fidelity Bank was able to launch mobile banking and mobile deposit before two of its largest regional competitors, Manzi says.
If you're not sure what your bank offers or you are considering switching banks, take some time to look into the technology available. You may be surprised at the number of tech-friendly perks your community bank or credit union provides.
Furthermore, when a crisis hits, you might appreciate the personal touch a smaller institution can offer. For instance, after the recent Target breach, "we were able to call each and every one of our clients to tell them how they were affected," Manzi says.