IIF Authors

Status: Will be live at 11/08/2016 00:00

Innovation by Mid-Sized Banks

Tuesday, November 8, 2016

Mid-sized banks (MSBs), which we define for the purposes of this paper as those with total assets between approximately $100 - $500 billion, face numerous challenges in today's market. These include complying with new regulatory measures and policies in the aftermath of the 2007-2008 financial crisis, market uncertainty, a low-rate environment, increased competition from Global Systemically Important Banks (G-SIBs) and new market entrants, and an increasingly demanding digital consumer base that expects innovative services focused on user experience. In this challenging environment, MSB executives increasingly consider technology as key to remaining competitive. The realization has helped propel many forward-looking MSBs to modernize their digital services, systems, and infrastructure. This paper outlines the innovation-focused strategies being implemented by astute MSBs and explores how they are leveraging technology to better serve their customers, improve efficiency, reduce costs, strengthen security, mitigate risks, and compete in an increasingly digital marketplace.