Bankruption: How Community Banking Can Survive Fintech

PRAISE FOR BANKRUPTION

"Bankruption is a wild romp through the nascent history of FinTech, punctuated by personal stories and concise, powerful lessons. Do yourself a favor and read this book."
Brett King, Host of the World′s #1 FinTech Radio Show Breaking Banks

"We live in communities that are both physical and digital and John Waupsh brilliantly shows how a community institution can survive in a digitalized FinTech world in Bankruption."
Chris Skinner, author of ValueWeb and Digital Bank

"Provocative, divisive, insistent, and practical, Bankruption digs deeper than a simple, incredulous contempt for the status quo. It′s a this–generation guide for banking leaders and their board members looking to make the transition back to relevance."
Ron Shevlin, author of Smarter Bank and the Snarketing column on The Financial Brand

"Bankruption is a sympathetic yet clear–eyed and thoroughly researched book that documents the ills of community banking and spells out many survival strategies small–bank leaders would do well to consider."
Penny Crosman, Editor at Large, American Banker

"Bankers, as well as those who advise and serve them, will ignore Bankruption at their peril."
Matt Harris, Managing Director, Bain Capital Ventures

"Bankruption is a must–read for leaders of community banks and credit unions. John Waupsh combines his own deep experience and advice with that of nearly two dozen experts, all of whom would be listed in anybody′s who′s who of FinTech."
JP Nicols, Chairman, Next Money; Managing Director, FinTech Forge

"Bankruption is an eye–opening read that all community bank leaders need to (uncomfortably) experience. John has packed so many ideas and possible solutions into this book that it would be a disservice to your bank if you don′t give it a read."
Chris Kelley, Executive Director, Barret School of Banking

"Community banking is at a crossroads. Once the foundation of each community, these institutions are challenged by new regulations, new technology, and new competitors. Bankruption provides insights into how to apply what made community banking great to serve consumers who bank differently and have new alternatives."
Jim Marous, Co–Publisher, The Financial Brand ; Owner, Digital Banking Report

Preface

Introduction

Chapter 1: An Overview of The Bankruption

Community Banking Has No Future

Community Banking Relied Too Heavily on Physical Proximity

Today, Data Proximity Yields Intimacy

Data proximity has cast a very bright light on the cracks of banking.

Chapter 2: Community Banking Is Broken

What Is Community Banking?

Where Are All the Institutions Going?

FDIC s Three Reasons for Bank Charter Consolidation

Depopulation and Charter Consolidation Aplenty

Branch Banking Realities

The De Novo De No–No

The Rise of the Challenger Banks

In China, New Banks Spring from Digital Giants

A Quick Overview of the Fintech Landscape

Chapter 3: The Opportunity For CFIs

You Don t Need to Follow All the Best Practices, but You Should Eliminate the Worst Practices

Doing Nothing Is Safe, but It s Also Foolish

It s Not a Family; It s a Team

Much Ado About Branching

Shift to a Digital Community

Understand Your Technology.

Partner, Don t Incubate.

Scale Delivers Results

Work with Entrepreneurs

Chapter 4: Advice from Others

And, We Are in the Future

Advice from Others Much Smarter Than Myself

Phil Ryan

Chapter 5: Finishing Move

An Introduction to the End

The Future of Retail Banking Will Be Optimized

About the Author

About The Companion Website

Index

JOHN WAUPSH is a renowned speaker at top FinTech and banking conferences. With one hand in community banking and the other in FinTech, he is well–regarded for balancing straight–talk consultation with research–backed ideation. Waupsh has pioneered integrated FinTech and financial marketing solutions, including Kasasa®, a national brand of financial products offered exclusively at hundreds of community financial institutions around the United States.