Tuesday Topic: How Community Banks Can Beat Chime

Chime’s public filings have made it easier to assess the company as a competitor, and the results suggest its advantage lies less in what it offers than in how consistently it delivers it. The takeaway for community banks is that many of the capabilities behind Chime’s growth already exist within their organizations, making the challenge less about building something new and more about delivering a simpler, more consistent customer experience.

What parts of the customer experience at your institution create unnecessary friction? Are you fully leveraging the capabilities you already have? Where does Chime present the greatest competitive challenge in your market?