Latest Innovation News

1/2/2023

Monesty Bank Goes Live!
Monesty, a division of American Commerce Bank, NA, arose from a challenge: How can digital banking go beyond mere convenience and restore the human connection? Monesty is backed by an established community bank and fully insured by the FDIC. Congratulations to American Commerce Bank Congratulations to the team at American Commerce Bank. Learn more.

Charles Potts: Top 5 Innovation Trends for 2023 
As we turn the page to a new year, the innovation evolution
continues. ICBA is leaning into it, bringing its ThinkTECH Accelerator program and innovation efforts in-house to provide community bankers with targeted solutions.

Here at ICBA, we’ve been tossing around a quote from author Courtney
C. Stevens’ novel, The Lies About Truth, that captures our ethos heading
into 2023: “If nothing changes, nothing changes. If you keep doing what you’re
doing, you’re going to keep getting what you’re getting. You want change,
make some.”

CBA's Innovation Committee Upcoming Meeting: January 26, 2023
CBA's Innovation Committee will meet on Thursday, January 26, 2023. The committee will hear presentations from two fintech companies as well as an update from Laura Gibson, new Executive Director of Georgia Fintech Academy.

ICBA Brings Successful ThinkTECH Accelerator Innovation Program to Atlanta
ICBA announced plans to bring its award-winning, community banker-led ThinkTECH Accelerator program in-house with a new, dedicated office based in the innovation hub of Atlanta. The move to scale and increase investment in ThinkTECH initiatives reflects community bank embracement of the program and ICBA’s goal to bring innovative solutions tailored specifically for community banks and their diverse customer base.

5 Banking Innovation Trends To Watch in the Next 3 Years
To become future-ready, banks must possess the speed and agility of a fintech startup, while building the cultural and operational capabilities to drive innovation and digital banking transformation at scale. Here are 5 digital banking innovation trends to watch in the next three years and beyond.

The Generational Challenge and Opportunity FI Leaders Must Act On - guest article from Alkami

Financial institutions are at a critical moment to find and act on statistically accurate data to inform their account holder roadmap, technology plans, investments, and strategy. Alkami's 2022 Digital Banking Transformative Trends Study with The Center for Generational Kinetics, provides data, context, and recommendations. Read more.

Robert “Red” Daniel Named FinTech Catalyst at ATDC
Red Daniel has been named FinTech Catalyst at ATDC. In this role, he will manage the ATDC FinTech program, providing acceleration opportunities to portfolio companies, fostering their development and growth. He also manages ATDC relationships with investors, prospective business partners, CEOs, and community technology leaders to promote market outreach and business development in the FinTech ecosystem.

Innovation Committee: Making Meaningful Progress
In the latest issue of Georgia Communities First, CBA Innovation Committee Chair Chris Stanley, SVP/Fintech Banker, SouthState Bank, Atlanta, shares the initiatives of the Innovation Committee and how the committee has evolved over the past three years. Hear from bankers across the state as they share their innovation challenges, success stories, efficiencies and best practices.

2022 Trends Reflect a New Era for Banking
Financial institutions can no longer plan for the future by looking at the past. As they evaluate the outlook for 2022 and beyond, two of the most important trends on their radar should be the ability to innovate quickly and at scale, and to humanize digital experiences.

Technology Associates of Georgia (TAG) has released their 2022 Georgia Fintech Eco system report.

“This is a fantastic report from CBA Partner Technology Association of Georgia. The Georgia Fin-Tech ecosystem is extremely vibrant and growing larger every day. This vast ecosystem creates firsthand opportunities for Georgia’s community banking industry to obtain information and new solutions that will help further innovate their respect operations and enhance the overall customer delivery experience,” said John McNair, President & CEO, Community Bankers Association of Georgia. “CBA and our Innovation Committee members are actively engaged in the Fin-Tech ecosystem. I encourage all community bankers to participate in CBA’s efforts to further the advancement of technology solutions for our industry.”

Small banks set to go live with bitcoin trading – American Banker
A group of community banks is poised to fulfill a high-tech goal it set last year: to let customers buy and sell bitcoin on mobile banking apps.

The Future of ‘Banking as a Service’
The “banking as a service” strategy has quickly moved from a quirky niche play to a “golden opportunity” for a much larger group of players on both sides. There are several reasons for this shift. Read more from The Financial Brand and hear from CBA Connect speaker Eric Sprink, President and CEO at Coastal Community Bank, who is very active in Banking as a Service.

Back-Office Innovation
- Charles Potts
Community bankers are embracing innovation like never before—with impressive results. But with so much emphasis placed on customer-facing products and technologies, innovating back-office operations can fall to the bottom of the priority list.

Operations play a role across multiple facets of community banking, including account onboarding, payments and transactions, fraud analysis, compliance and regulatory guidelines. On a practical level, what steps can community banks take to strengthen their back-office operations?

What Is Web 3.0? (And Why Should Banks Care?)
A new version of the web — based on blockchain technology — is being predicted and promoted. Even though the trend has vocal naysayers, elements of Web 3.0 are already in use, including by a new crop of disruptive nonbank competitors.

4 Questions to Ask for Bank-Fintech Partnership Success
Traditional bank leaders know that fintechs are quickly encroaching on target audiences and customers. They also know any chance of keeping up with digital competitors will depend on making fast and substantial progress toward digital transformation. Consumer demands for easy, accessible and convenient digital services will only increase.

The Battle for Business Banking Business banking is the next frontier for digitization. While megabanks and fintechs are locked in an arms race to serve businesses, it is the community institutions that have a unique advantage: borrower satisfaction and agility.

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