Square, PayPal Pose Grave Threat to Community Financial Institutions

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Neobanks are overrated as a banking threat. Their business model is flawed and eventually there will be a reckoning. So says a fintech executive who briefly launched a neobank before realizing that working with banks and credit unions, rather than against them, was a better path to success.

Even the megabanks aren’t the boogeyman for community institutions they’re often portrayed as, says Nathaniel Harley, CEO and Co-Founder of MANTL, a cloud-based provider of banking technology solutions. The giants miss many market niches that community institutions see and can serve, he explains.

Read the full interview with Nathaniel in the Financial Brand here.

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