Jan. 09, 2023
Nearly one-third (32.2%) of community bankers have ranked partnering with a fintech firm for
enhanced digital transformation as a critical opportunity over the next five years, according to research from the Conference of State Bank Supervisors (CSBS). In fact, the same report revealed the percentage of bankers who said adoption of new technology is extremely important has doubled in the last three years.
The new version of the ICBA Solutions Directory features tools and filters that address banker feedback, including:
For more information, visit solutions.icba.org.
With that emphasis on enhanced partnerships and technology demands, ICBA has doubled down in its commitment to helping community banks identify providers with solutions tailored to their needs. From our recent announcements about bringing the ICBA ThinkTECH Accelerator in-house to the closing of the first BankTech Ventures Fund, ICBA has expanded its initiatives to help community banks identify solutions that align with their unique relationship-first banking models. And now, ICBA has launched an enhanced version of our Solutions Directory, which in addition to providing useful fintech-related company information, serves as a one-stop shop for community bank enabling technology. The new and improved directory is based on extensive community bank feedback, to create a better user experience.
“All community banks want to be technology-forward for our clients and ourselves,” said Michael J. Burke, Jr., president of Choice One Bank, a $2.4 billion-asset bank in Sparta, Mich. But it can be “intimidating when there are hundreds of vendors out there for each product need,” Burke says. Having right-sized solutions in a centralized location offers a “firm starting point,” he says.
While ICBA has had a Solutions Directory for years, this latest iteration offers improved searchability and detailed sorting features—including the ability to filter by solutions for your bank and solutions for your customer—to help community banks pinpoint the solutions that align with their specific business objectives. Community banks can find specific solutions to meet their unique needs by filtering on the following functional areas:
“When looking for a solution, you sometimes don’t know where to start, and I know most of us would start with Google, but that may not be a representative source from a community banker perspective,” noted Burke. “ICBA is always looking at how solutions will complement and support community bank operations. Having the Solutions Directory is like having an extra employee to assist with initial research and vendor sourcing.”
For more information and to access the directory, visit solutions.icba.org.
Adam Mahone is senior vice president of strategic solutions at ICBA.