As the Bankers Helping Bankers (BHB) network expands, community banks can now participate in BHB’s new Test Pilots program and be among the innovative bankers to test fintech products and services. These screened, early-stage fintech companies need the partnership of banks to establish their viability in providing stable solutions for the banking industry.
“The BHB Test Pilots program will be the ‘ah-ha’ moment when community banking begins to realize its destiny—to build products together and be one with fintech,” says Dave Mayo, co-founder of Bankers Helping Bankers and CEO of Austin-based FedFis, a leader in providing integration technology to financial institutions.
“Community banking is all about building relationships and making a difference for the greater good of our industry, but not all relationships are bank-to-customer or vice versa,” notes Chris Davis, vice president/digital solutions officer at Spokane, Washington-based RiverBank, a participant in the Test Pilots program. “We are finding that our partnership with Bankers Helping Bankers is one we cannot afford to be without. It is an unselfish relationship in which banks and strategic partners come together not only to build the future of community banking, but to hold fast to the legacy that has made community banking so special. The guidance and wisdom shared by Christopher Williston at the Independent Bankers Association of Texas [IBAT] and Dave and Tanner Mayo at FedFis has proven invaluable for RiverBank, and we are excited to be on this journey with BHB!”
Community banks in the BHB Test Pilots initiative will become strategic partners with fintech companies, providing:
- Beta testing of products and services to spot areas for improvement;
- Feedback on the solution’s usefulness to community banks;
- Influence on product development; and
- Assistance in a roll-out strategy that minimizes risks to both the bank and fintech.
As part of the Test Pilots program, community banks will have access to potential fintech partnerships at low to no cost for an agreed-upon period, as well as additional benefits. Test Pilots banks will not be expected to roll out feature functionality enterprise-wide or to all of their customers. The program will require only a limited base for testing.
“We understand that community banks will not want—or be able—to participate in all test pilot opportunities, but participation in this exclusive group will provide the first opportunity to partner with vetted fintech companies and uncover new solutions for your bank and community banking nationwide,” Mayo says.
“Many thanks to Bankers Helping Bankers for selecting us as its first fintech among many that were vetted and run through its compliance program for the unique opportunity to serve BHB’s Test Pilots program,” says Shyam Gopalaswamy, founder and CEO of Princeton, New Jersey-bsaed CaptuRisk Inc., developer of an algorithmic decision-support platform for banks. “It is the perfect alignment of our technology, our people and the challenges that community bankers are facing. It is responsible innovation that brought us together.”
Launched in 2021, Bankers Helping Bankers is a bankers-only social platform for collaboration and education. Through data tools and dynamic user groups, BHB provides community bankers with a knowledge base focused on bank technology and emerging fintech companies, as well as hot topics such as cryptocurrencies, banking-as-a-service, becoming a sponsor bank and launching a direct digital brand. The BHB ecosystem includes access to capital, executive support with access to experts, a roadmap to navigate financial technology integrations, a direct connection to fintech sponsor banks and a marketplace of community bank customers.
Banks can sign up to participate in BHB’s Test Pilots program here.
