The Independent Community Bankers of America’s first fintech accelerator of 2023 will focus on retaining and attracting deposits – a timely endeavor given the recent fluidity of accounts.
The ICBA’s ThinkTECH Accelerator, which will run from April 24 to June 30, will also look at real-time and instance payments ahead of the July launch of the Federal Reserve’s FedNow Service.
The accelerator said in an announcement that it has “repeatedly” heard that deposit gathering and real-time payments “are community bank priorities.”
The program also noted several other changes, including the decision to host more than one accelerator. “We’re now looking at this program as perpetual, where we are constantly identifying new fintechs that have solutions for community banks,” the accelerator said.
Finally, the group will use a hybrid model where there is an in-person week in Atlanta followed by eight weeks of “virtual connection and engagement between fintechs, community bankers and industry leaders.” The final week will again be in-person in Atlanta.