ICBA has a rising community of individuals and assets group banks can faucet into as they proceed their innovation journeys. The ThinkTECH Accelerator is one in all a number of initiatives underway this 12 months to foster group bank-enabled fintech partnerships.
By Charles Potts, ICBA
The collaborative course of is critically vital to what we do at ICBA and to the way forward for group banking. As I write this, the 2022 ICBA ThinkTECH Accelerator cohort, run in partnership with The Enterprise Middle, is nicely underway. All through the method, ICBA members take part as group financial institution mentors and share business challenges with the cohort contributors to mature merchandise, pitches and, in the end, guarantee product–market match and longevity. The ThinkTECH Accelerator is one in all a number of initiatives underway this 12 months to foster group bank-enabled fintech partnerships.
As well as, ICBA will proceed to supply a springboard for innovation with a collection of recent efforts designed to assist group banks dive deeper into how to domesticate profitable fintech partnerships. New case research, webinars and academic assets will supply a behind-the-scenes take a look at how group banks companion with fintechs for innovation. These new instruments and assets will assist reply vital questions, together with:
- How do we discover firms which are the appropriate match?
- How can we filter and qualify options for our financial institution’s wants?
- How can we entice new expertise to additional our innovation objectives and aims?
As a pure a part of this evolution, group banks are leveraging accelerators that characteristic fintech options geared to group banks and cultivating strategic partnerships centered on a high-tech, high-touch method to innovation. Collaborative efforts like these are on the basis of ICBA’s ecosystem and a pure cultural match for many group banks.
To foster this sort of next-level collaboration, ICBA is taking steps to assist state group financial institution associations develop Innovation Steering Committees, which can assist determine potential companions of their native ecosystem. As a part of the method, steering committee members will determine particular challenges they face that require options, draw options into their purview by way of group partnerships and qualify potential candidates.
The Georgia Neighborhood Bankers Affiliation started this course of two years in the past, aligning themselves with the Superior Know-how Improvement Middle (ATDC) at Georgia Tech, which has a worldwide fame for fostering innovation and technological entrepreneurship. Via this strategic partnership, the Georgia Neighborhood Bankers Affiliation Innovation Steering Committee has a direct pipeline into the college system, which permits them to determine new expertise and potential fintech innovation expertise companions.
ICBA can be working with just a few state associations to develop their very own Innovation Steering Committees. To that finish, ICBA invited members of those state associations to take part on this 12 months’s ThinkTECH Accelerator cohort. As well as, ICBA will proceed to foster state-based efforts to launch Innovation Steering Committees to share data and determine potential innovation companions on the native stage.
Wherever you might be within the course of, it’s not too late to get entangled. ICBA has a rising community of individuals and assets group banks can faucet into as they proceed their innovation journeys. Additionally, throughout ICBA LIVE 2022 attendees can witness for themselves how far these options have come throughout our ICBA ThinkTECH Reside Showcase and go to with this 12 months’s cohort on the ThinkTECH Accelerator Hub within the exhibit corridor. Learn extra about ICBA LIVE »
We sit up for seeing you there!
Charles Potts (email@example.com) is ICBA govt vice chairman and chief innovation officer