Abstract
This chapter offers a playbook for banks thinking about how to create, or be part of, the future of small business lending. Using Massachusetts-based Eastern Bank as an example of innovation, it addresses the key question: How should banks and traditional lenders innovate in small business lending? The author lays out strategic guidance for banks thinking about partnering with fintechs, innovating internally, or engaging with technology in other ways. This chapter also addresses the difficulties of innovating in a traditional institution, and proposes structures through which to overcome these obstacles.
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Mills, K.G. (2018). A Playbook for Banks. In: Fintech, Small Business & the American Dream. Palgrave Macmillan, Cham. https://doi.org/10.1007/978-3-030-03620-1_9
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DOI: https://doi.org/10.1007/978-3-030-03620-1_9
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Publisher Name: Palgrave Macmillan, Cham
Print ISBN: 978-3-030-03619-5
Online ISBN: 978-3-030-03620-1
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