What the Rise of Digital Banking and Fintech Means to Your Local Community Bank

Digital banking and fintech have upended how banks do business. Here's where one top industry executive thinks the community banking industry is headed.
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One theme during second quarter earnings season among the nation's banks: ongoing digital pushes by big banks such as JPMorgan Chase (JPM) - Get Report , Citigroup (C) - Get Report and Bank of America (BAC) - Get Report

In effect, the nation's biggest banks are consolidating their power amid the push toward digital consumption. That push may cause smaller regional banks to consider tie-ups with tech companies -- or mergers to create scale -- to compete with the larger banks, CEO Thomas Michaud of KBW, a Stifel Company, tells TheStreet. 

Michaud spoke to TheStreet on Tuesday at the 2018 KBW Community Bank Investor Conference, held by parent company Stifel Financial (SF) - Get Report .

Here's why Jim Cramer's Action Alerts PLUS member club is bullish on JPMorgan Chase and Citigroup.