IC University Blog

Welcome to Our Series on Community Banking!

Posted by Kevin Fread on Feb 28, 2022 4:41:36 PM
Kevin Fread

Community banking comes with a unique set of challenges — different from other types of financial service firms. In a new blog series, I’ll be exploring several crucial business issues in community banking, as well as how they may be addressed through innovative strategies and technology. I’ll also pose key questions that can be used as a framework for moving forward.

As a community banker, you hold a number of competitive advantages over your larger regional or national counterparts, from the ability to charge lower fees for services, to more nimble decision-making and greater involvement in local events and causes. At the same time, you face many of the same business issues — encompassing both threats and opportunities — as bigger financial institutions. In this blog series, I’ll be discussing several crucial business issues, including:

  • Defending against cybercrime
  • Complying with government regulations
  • Attracting younger, tech-savvy customers
  • Meeting and exceeding customer expectations
  • Cutting costs and making strategic investments
  • Achieving a diverse, high-quality workforce
  • Building a competitive edge
  • Thinking and acting innovatively to ensure long-term success

Of course, the bigger the bank, the more financial and human resources can be applied to these issues — seemingly putting smaller institutions at a decided disadvantage. Fortunately, by thinking innovatively and deploying technology in a smart way, you can counteract threats and seize opportunities on behalf of your community bank and all of its stakeholders.


Kevin Fread serves as CIO and CFO of Ironcore, Inc. He possesses more than 40 years of banking and technology experience in a variety of settings, including a community bank, a data services firm, and a global FinTech and payments company. Kevin works closely with Ironcore clients to assist with technology, integration, and strategic planning. You can reach him at kevin.fread@ironcore-inc.com.

Topics: Community Banking