Square, Paypal Pose Grave Threat To Community F... -

: When a small business opens a Square account, they can often obtain every financial service they need—including instant access to funds and business lending—without ever visiting a community bank.

: Following the 2008 financial crisis, these tech firms filled a gap left by banks that restricted capital access, providing fast, data-driven loans and advances to small merchants. Competitive Advantages of Fintech Giants Square, PayPal Pose Grave Threat to Community F...

Fintechs can be a community bank's ally in a competitive ... - BAI : When a small business opens a Square

: While banks face strict national oversight, fintech companies have historically operated under a lighter regulatory footprint, though recent moves by the Consumer Financial Protection Bureau (CFPB) aim to increase supervision. Strategic Responses for Community Institutions - BAI : While banks face strict national

: Community institutions traditionally rely on personal relationships. Square and PayPal utilize cloud-based, seamless digital experiences that minimize the importance of that local connection.