In ancient Roman religion and mythology, Janus was the god of beginnings and transitions, doorways and endings. Considered to be one of the most important Roman gods, Janus was often depicted with two faces looking in opposite directions, the past and the future.
This is a great metaphor for what FinTech is not just doing to, but also for regional and community banks… Much like Janus has two faces that represent beginnings and endings; FinTech has unknowingly created a Face of Opportunity for progressive banks looking towards the future, not just the Face of Doom that most have latched onto.
FinTech has technology, easy processes and speed. But now some progressive community banks are deploying mobility technology to get their bankers out of the office, to work with borrowers in person and for those same borrowers to use the mobile technology to get money faster and easier. Community banks are winning this battle now because they can combine the new Mobile Technology + In-market relationship-based banking whereas FinTech just has the tech.