Independent Banker - August 2018 - 77

PREFERRED PERSPECTIVES
areas. Based on the fi ndings, community bank
executives and their customers both ranked
" trust " and " simplicity " as top priorities.
Supporting critical investments
SMB respondents to our PACE survey reported
a 40 percent increase in digital payments
acceptance (defi ned as mobile, online or person
to person) since our 2017 report. Despite the
otherwise high satisfaction they reported for
their community bank relationship, nearly a
quarter of those who worked with a community
bank said they used an outside provider
to access the digital payments technology
they wanted. Further, while 76 percent of
the community bank executives ranked their
perceived customer satisfaction of their digital
payments off ering as " extremely/very satisfi ed, "
just 47 percent of SMBs surveyed shared that
feeling.
Digital is no longer an optional investment for
a bank of any size, yet FIS recognizes that it can
be a signifi cant undertaking for a community
bank. To help our community bank customers
off set the costs of the new technologies that will
keep them competitive, current, and ahead of
industry trends and events, FIS invests 7 percent
of its annual revenue back into research and
development for existing products and services.
Digital Continues to Drive Financial Services
For the fi rst time in our PACE research, 2018
marks a transition in fi nancial services: Digital
(which includes mobile and online transactions)
is the primary channel for banking transactions.
Plus, 42 percent of survey respondents indicated
they now use mobile apps more than they did
one year ago.
Recognizing the seismic shift digital technology
would have on how customers pay, FIS took
proactive steps in 2017 to ensure our community
banking partners were equipped for the
changing landscape. We were the fi rst in the
payments industry to " mass enable " tokenization
to all of our community banks, to empower their
cardholders to use their phones for Visa and
MasterCard purchases at the point of sale.
The fi nancial world will continue to off er new
opportunities, challenges and, likely, some
unexpected technology advancements for
fi nancial providers of all sizes. FIS remains as
committed to our community bank partners
as we have been from the beginning. We
will continue to empower you to serve your
customers so your community bank will remain
relevant, competitive and trusted by your clients.
Vince Pavese
SVP Payments Sales and Strategic Accounts
vince.pavese@fi sglobal.com
601 Riverside Ave.
Jacksonville, FL 32204
fi sglobal.com
http://www.sglobal.com http://www.sglobal.com

Independent Banker - August 2018

Table of Contents for the Digital Edition of Independent Banker - August 2018

Table of Contents
Independent Banker - August 2018 - Intro
Independent Banker - August 2018 - Cover1
Independent Banker - August 2018 - Cover2
Independent Banker - August 2018 - Table of Contents
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Independent Banker - August 2018 - Cover3
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