American Bankers Association becomes founding partner of “2023 Project FinTech” accelerator
The first cohort of the nine-month program is set to launch in August. The bankers group joins First Horizon Bank as a founding partner of the program run by the Nashville Entrepreneur Center.
According to this news release, this national association of bankers will work closely with the “Project FinTech” team over the next nine months to engage with nine start-ups developing innovative banking technology products and services.
“Innovation is at the core of today’s banking industry, and this new partnership will ensure our members have the resources they need to meet their customers’ evolving expectations,” said ABA President and Chief Executive Officer Rob Nichols. “Joining with innovators like the team at ‘Project FinTech’ will give us a unique view into emerging trends and allow us to help shape the bank technology landscape going forward.”
The accelerator provides early-stage start-ups access to subject matter experts, curriculum, mentorship, and the benefit of the community. It is open to all fintech start-ups with a preference for Tennessee-based companies and an emphasis on the “banktech” sector, defined as technology seeking to improve, automate, or scale the delivery or use of payments, deposits, loans, or relationships between retail or commercial banks and their customers.
“To help banks with their technology strategy, our team is continually monitoring, analyzing, and engaging with cutting-edge companies and emerging technologies, and this partnership is just one more arrow in our quiver,” said Brooke Ybarra, Senior Vice President of ABA’s Office of Innovation. “We’re excited to work directly with businesses that are bringing the latest technology to banking.”
The inaugural cohort was announced earlier as launching in August.