Independent Banker - April 2020 - 36

PORTFOLIO
from many traditional lending alternatives. The
way in which small businesses fi nd and obtain
what I call a " just-in-time loan " is the cornerstone
of many technologies in development today. For
community banks, which account for more than
60% of all small business loans, it's a chance to
off er their own set of innovative partners and
solutions while incorporating the unique characteristics
that make banking with a local lender so
appealing for small business owners.
As part of ICBA's mission to help community
banks fl ourish, we're working to ensure you have
the tools and services you need to maximize the
opportunities in today's shifting marketplace.
Here are some ideas for your community bank:
Q Access ICBA's array
of educational
Innovation Station
By Charles Potts, ICBA
The future of
community
banking
T
he speed and rapid nature of fintech
entering the community bank space brings
with it opportunities for community banks to create
innovative ways to fl ourish in their markets.
That's why it's imperative that community
banks think strategically about how to create
best-of-breed services and solutions for their
unique market demands, in line with their big
bank and nonbank counterparts.
Here's one example: Shadow banks and venture
capital-backed, neo-lending companies are capitalizing
on increased growth in small business
creation and demand for small business loans.
They off er a user experience that's a departure
36 Q ICBA Independent Banker Q April 2020
Charles Potts
(charles.potts@
icba.org) is
ICBA senior vice
president and
chief innovation
off icer
resources. Continue to look to ICBA as a
thought leader and key source of information.
These resources include the ICBA ThinkTECH
Network, the ICBA ThinkTECH Accelerator
program, access to numerous sessions from
our partners at events like ICBA LIVE, as well
as Community Banker University resources.
These off er unparalleled opportunities for you,
as a community banker, to arm yourself with
the knowledge and opportunities you need to
meet the challenges ahead.
Q Work hand in glove with ICBA. We're always
happy to hear from you, so please communicate
your needs, pain points, business plans
and strategies. Engage with our fi ntech accelerator
program participants. Take advantage of
the opportunity to meet with our fi ntech cohort
to express the challenges you face and work
with them to achieve appropriate solutions.
Q Recognize that timing is everything. Right
now, there's signifi cant market demand for
loans, and community banks are considering
ways to grow deposits to meet this demand.
From a strategy and tactics perspective, it's
vital to identify how, when and where to
acquire solutions that will address these needs.
At ICBA, we're working diligently to identify
new solutions and alternatives to address your
most pressing challenges.
The future of community banking is now. With
ICBA as your partner and advocate, you can
deliver powerful technology solutions without
losing the customized, personal touch that sets
community banks apart.
Independent Banker - April 2020

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