Welcome back to FOMO, innovators! We hope that after reading this newsletter, you're off to go enjoy a wonderful holiday weekend and rest up before what will undoubtedly be a busy Fall. If you scroll down to our Conferences section below, you'll see there's no shortage of opportunity to get more engaged in the fintech and banking realm.
But for now, we're focusing on how community banks can learn, grow and strategize by learning from their competitors. Inspiration is all around, if you only know how to find it. 👀
If I Were a Bank CEO...
Vol. 2: Learning from Competitors
In the 2nd installment of "If I were a Bank CEO...", our Managing Director, Carey Ransom, breaks down how community bank leadership can (and should) adapt by learning from their strongest competitors.
"In the rapidly evolving landscape of financial services, embracing a mindset of continuous learning and adaptation is essential to remain competitive. If I were a community bank CEO, delving into the successes of my competitors, whether they be credit unions, larger banks, or fintechs, could provide valuable insights to learn from and consider.
Step 1: Comprehensive Analysis We’ll begin by conducting a comprehensive analysis of each competitor. We’ll examine the focus of their business models, customer bases, services offered, and market positioning. What do they do particularly well, where are they weak, and what opportunities do they potentially provide me and threats do they create for us? ..."
BankTech Ventures recently made an investment in Vero Technologies, a fintech company that enables financial institutions to offer wholesale financing through the use of their fully equipped software platform, or via their Lending-as-a-Service model. Check out their full value prop!
🎤 Alana Levine, Chief Revenue Officer of BankTech portfolio company Fintel Connect,joined Travillian Next alongside Live Oak Bank to discuss the role that digital marketing must play in a modern bank's successful growth strategy.
🏛️ Speaking of Fintel Connect, founder and CEO Nicky Senyardlent her voice to the Martech View newsletter to discuss the regulatory scrutiny faced by financial institutions, and how marketers can still succeed despite these challenges.
🖥️ BankTech portfolio company ZSuite and customer Leader Bank will be hosting a webinar on September 19th, to discuss "Unleashing Organic Growth with Non-Traditional Strategies". Growth by any means is a highly relevant issue right now, so register here!
❗Adlumin also launched a new subscription-based incident reporting (IR) tool to save their customers money and improve their security experience. Check out the press release!
Meet the BankTech Team: a Resource to You!
We'd like to reintroduce you to the BankTech Ventures team, your resource for all things bank innovation and bank-enabling fintech.
James Chan
BankTech Ventures CFO
About James: James Chan recently joined BankTech as the CFO, overseeing the financial and back office operations. James also provides guidance to the Fund's Portfolio Companies on their respective initiatives, quickly becoming an invaluable asset to not only our team, but the entire Fund's ecosystem. Prior to joining BankTech, James' experience spanned across public accounting, Fortune 500, pre-revenue startups to unicorns, family office and corporate venture capital. James is based in SoCal and enjoys spending his time hiking, camping, and traveling with his wife and 3 kids.
"To succeed in an increasingly competitive market, financial institutions must ... stay committed to innovation, embrace new business models, and invest in the right talent and technologies to ensure their institution is future-ready."
💻 Bank Director released this article last week, also outlining how community banks can capitalize on the fintech partners that could help strengthen across the bank ↓
"Community and regional banks have a tremendous opportunity to transform their digital futures through fintech partnerships. The path to digital success may present challenges, but community banks have a way to revolutionize their offerings and secure a prosperous future in the digital era."
Money 20/20-- Las Vegas, October 22-25th.We'll be hosting a Happy Hour, so let us know if you'll be there too.
New York Tech Week- NY, October 16-22nd.BankTech Investor Jake Fuchs will be on a panel session regarding how to sell to FI's. Let us know if you're interested in listening in.
Career Corner 💼
On the topic of talent acquisition and retention, check out this article by our resident Gen Z's on how banks can "win the talent war".
Are you hiring or looking for a job at a fintech or bank? That's what we love to see. ContactSarahto feature your postings in the next edition of FOMO by BankTech.