12-Week Bootcamp Fosters Innovative Community Bank Fintech Solutions
Little Rock, Ark. (Jan. 8, 2019) —The Independent Community Bankers of America® (ICBA) and The Venture Center, in partnership with the State of Arkansas, today announced the 10 companies selected for the second annual ICBA ThinkTECH Accelerator program, which focuses on driving community bank innovation to create enhanced customer experiences.
ICBA and The Venture Center executives and Arkansas officials welcomed the new cohort to Little Rock before hundreds of community bankers, community business leaders, and entrepreneurs.
"Community banks offer their customers the best of both worlds—the high-tech solutions they have come to expect in financial services combined with the customer service for which community banks are known," ICBA President and CEO Rebeca Romero Rainey said. "By bringing community bankers and industry stakeholders together with early-stage fintechs that want to be part of our industry, we are accelerating community bank-specific solutions that will benefit community banks and the customers and communities they serve. We look forward to working with this new cohort of fintech leaders.”
Finalists to participate in the bootcamp-style business accelerator were chosen from hundreds of applicants following a rigorous selection process. During the 12-week program, the fintechs will receive mentorship from a distinguished network of industry leaders, including community bank executives, along with an initial investment to help refine their offerings for community bank consumption.
The 2020 companies are:
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Finscend, Tel Aviv, Israel
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Fintel Connect, Vancouver, B.C.
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Finzly, Charlotte, N.C.
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FI Works, Little Rock, Ark.
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Fraud.net, New York, N.Y.
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Griffin Technologies, Kansas City, Kan.
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Hexanika, New York, NY and Pune, India
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Lendsmart, Hoboken, N.J.
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Pay It Better, Sacramento, Calif.
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Wallit, Portland, Maine
“The ICBA ThinkTECH Accelerator helps community banks and early-stage fintechs effectively collaborate to meet market challenges by delivering cutting-edge solutions with real-world relevance,” The Venture Center Executive Director Wayne Miller said. “We are grateful to play a meaningful role in helping ICBA accomplish its mission of creating and promoting an environment where community banks flourish.”
The companies will demonstrate their fintech solutions before an audience of community bankers at ICBA LIVE® 2020 in Orlando, Fla., on March 9 and will provide similar demonstrations for community bank leaders, potential investors and entrepreneurs at ICBA ThinkTECH Demo Day on March 25 at the Clinton Library in Little Rock, Ark.
To view the recorded press conference from today’s event or learn more about the ICBA ThinkTECH Accelerator, click here.
About ICBA
The Independent Community Bankers of America® creates and promotes an environment where community banks flourish. With more than 52,000 locations nationwide, community banks constitute 99 percent of all banks, employ more than 760,000 Americans and are the only physical banking presence in one in three U.S. counties. Holding more than $4.9 trillion in assets, $3.9 trillion in deposits, and $3.4 trillion in loans to consumers, small businesses and the agricultural community, community banks channel local deposits into the Main Streets and neighborhoods they serve, spurring job creation, fostering innovation and fueling their customers’ dreams in communities throughout America. For more information, visit ICBA’s website at www.icba.org.
About The Venture Center
The Venture Center’s immersive accelerator programs are designed to accelerate the growth of early-stage companies and help them validate their solutions for real-world problems. Our methodology provides a unique opportunity to connect with community bank executives, receive seed investment and learn from a comprehensive curriculum that will aid in strategically addressing go-to-market, business, and finance challenges.
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