Collaboration will boost digital transformation across mid-size institutions and roll-out multibank platform utilities
FinMain, a leading financial technology digital infrastructure provider and the Mid-Size Bank Coalition of America, the preeminent association representing U.S. mid-size banks, are pleased to announce a strategic partnership aimed at fostering innovation and enhancing digital capabilities for the MBCA’s 100-plus member banks, collectively representing just over $3 trillion in total assets and $100 billion in revenue.
This collaboration brings together FinMain’s unique combination of expertise in fintech, digital technology and product innovation with the MBCA’s membership, which plays an essential and irreplaceable role in serving America’s local communities, small businesses, and middle market companies. This effort between FinMain and the MBCA demonstrates both organizations’ commitment to fostering collaboration, innovation, and success within the regional banking sector. The partnership also creates the opportunity to deliver exceptional value to all stakeholders through distinctive customer experience and improved operations.
Latest Fintech News: Daily Fintech Series Roundup: Top Fintech News, Analytics and Insights
Commenting on the strategic partnership, Brent Tjarks, Executive Director at MBCA, said, “Our increased partnership with FinMain aligns perfectly with our mission to support the success of mid-size banks. Combined with their management team’s deep understanding of the Coalition, FinMain’s market knowledge, technology and product development capabilities offer our banks the advantages they seek to thrive in today’s dynamic banking landscape.”
Under this strategic partnership, the first collaborative efforts address three specific areas:
- Already in successful operation, FinMain curates and leads MBCA’s flagship innovation forum, “BankTank”. This semiannual event serves as a uniquely powerful opportunity for MBCA member banks to discover, discuss, and evaluate cutting-edge digital solutions from within and outside of financial services to address their unique opportunities and challenges.
- FinMain, along with leading MBCA member bank innovators, is building for all coalition members customized multibank technology utilities specifically tailored to the prioritized needs of mid-size banks. By leveraging these utilities, MBCA members will have the opportunity to simultaneously optimize performance and harvest shared efficiencies:
- The first of these platforms currently being rolled out will address money movement.
- The second of these utilities focuses on fraud reduction and mitigation.
- The third platform addresses commercial lending analytics.
- As part of the strategic partnership, FinMain will make available to MBCA members its proprietary and uniquely classified database of fintech providers and their related capabilities.
Latest Fintech News: Pico Announces Corvil Cloud Analytics for Crypto Trading on AWS
Zack Bishop, Executive Vice President of Technology, Operations and Security at Synovus offered, “As an active participant in the MBCA, I have had the chance to see first-hand how powerful this group can be when we work together towards a common, mutually beneficial, innovative objective. FinMain has been the perfect partner for us to achieve real impact.”
Danielle Doyle, Chief Innovation Officer of Atlantic Union Bank, commented “In this rapidly evolving financial landscape, the need for mid-size banks to collaboratively develop shared innovation utilities is quite powerful. Partnering with FinMain, we stand on the cusp of a transformative journey that will benefit customer, employees, and all stakeholders.”
Paul Kilroy, Chief Information Officer at Old National Bank, offered “MBCA BankTank has quickly become a critical opportunity for mid-size banks to uncover innovation and accelerate digital progress. It is a forum where leaders and pioneers both inside and outside the banking industry converge to share insights and explore breakthrough solutions. It is key to how we think about the future of technology in our organization.”
Tristan Thompson, Director of Payments Strategy at Arvest Bank, commented “Arvest is thrilled to be contributing to the progress that has been made on a money movement utility born out of a dynamic collaboration between FinMain and the Mid-Size Bank Coalition (MBCA). This effort represents a leap forward in our commitment to transforming financial transactions. We believe that banking should be simple, accessible, and seamless. Collaboration between the MBCA and FinMain will deliver a secure, fast, and easy-to-use solution that is set to redefine payment transactions for consumers and businesses alike, reinforcing our vision of creating an efficient and inclusive financial ecosystem that doesn’t just benefit large financial institutions and mega fintech players.”
“We are thrilled to build-upon our partnership with the MBCA to accelerate innovation at mid-size banks with the latest financial technologies, purpose built in addressing their challenges” said Ryan O’Sullivan, CEO of FinMain. “We appreciate the critical role that mid-size banks play in the US economy, and we will continue to provide MBCA member banks with innovative tools, resources, and expertise to strengthen their competitiveness.”
Latest Fintech News: BitMart Exchange Expands in Hong Kong with New Crypto Trading Platform
[To share your insights with us, please write to sghosh@martechseries.com]
