Cornerstone Advisors Report Shows How Modern Core Technology Can Help Community Banks Grow
A new report from Cornerstone Advisors highlights how modern core banking technology can help community banks unlock growth by streamlining operations, enabling real-time data access, and supporting fintech partnerships. The study, commissioned by DCI, found that outdated core systems are a major constraint for many banks, limiting their ability to act on customer insights or scale effectively. The report emphasizes the importance of digital account opening processes, noting high abandonment rates when applications take longer than three to five minutes. It also points out that nearly 60% of prospects leave due to friction before completing an account setup. Additionally, many community banks still rely on manual processing for core functions while fintechs continue capturing a growing share of new accounts. Cornerstone's research shows that real-time data access and secure API integration are essential for fraud detection, deposit retention, and AI tools. The report concludes that without the right technology infrastructure, even strong strategic plans can fail to deliver results.
Topics: community banks core banking systems fintech partnerships onboarding efficiency