Pub. 9 2020 Issue 6

Pub. 9 2020 Issue 6 25 when choosing a partner who can help the bank engage with platform providers. A community bank needs a partner with the sophistication and industry connectivity to help broker relationships with relevant platform partners. Bank execs should look for partners who are already part of platform ecosystems and push them to help the bank navigate. Like it or not, deposit and loan products are commodities. Which means they have only a limited number of differentiating attributes that consumers care about: maybe only interest rate and associated fees. Community banks and credit unions can add a layer of differentiation via great customer service (in-person and digital). All of these factors will continue to be important, but the next frontier that will differentiate growth banks from non-growth banks is discovery and onboarding. How does a potential “digital native” customer find the bank and start a business relationship? Third- party distribution platforms are part of the answer. https://apiture.com/xpress/xpress-business- banking/ Platform banking is the future and those community banks and credit unions that embrace this future earlier stand the best chance of growing, or indeed surviving, as the next generation of bank customers emerges. Chris Cox is the Chief Operating Officer at Apiture and oversees all aspects of business operations. Chris has more than 20 years of experience in banking, payments, mobile commerce, product innovation and technology strategy. Apiture is a digital banking provider with a vision to create a better digital experience solution for financial institutions of all sizes. They currently serve hundreds of banks and credit unions across the U.S. https://apiture.com/about-apiture/ https://apiture.com/ Notes 1 https://apiture.com/apiture-iq-targeted- marketing/ 2 https://apiture.com/multi-touch-support/ 3 https://apiture.com/p2p-payments/ h ttps://www.forbes.com/sites/ danielwebber/2020/07/30/how-payments- fintech-is-using-banking-as-a-service-to-drive- growth/#658722fe4b9b 4 h ttps://apiture.com/resources/with-great-ach- comes-great-responsibility/ h ttps://apiture.com/security-and-compliance/ data-protection-laws/ 5 h ttps://apiture.com/resources/wearables-watch- new-customer-relationship/ 6 https://apiture.com/core-connectors/ h ttps://apiture.com/xpress/xpress-mobile- banking/