Independent Banker - December 2023 - 23

PORTFOLIO INNOVATION STATION
Moving into 2024:
The innovation journey continues
By Charles Potts, ICBA
or me, the close of the year signals
a time for reflection, for taking
stock of our accomplishments and
formulating a plan to embrace the
opportunities and challenges that lie
ahead. And this year, there's been a lot
to contemplate.
ICBA upped the innovation ante
significantly in 2023. From our
new issue-focused approach to the
ThinkTECH Accelerator and the rapidfire
ThinkTECH Solutions forums to
enhanced programming and education,
we have reinforced our commitment to
your innovation needs-and we aren't
stopping there.
F
lens of some of your biggest challenges:
the ongoing need for deposits, liquidity
demands, risk management, fraud
mitigation, compliance considerations
and so much more.
Fortunately, what sits on top of these
issues is the promise of new technology.
Tools like generative AI-which was the
top product category at Finovate Fall-
can bring forward interesting solutions.
While many companies are in the early
development stage, this technology can
and will help with account acquisition,
risk mitigation and fraud prevention.
Case in point: BAC Community
Bank in Stockton, Calif., worked with
AI-specialist fintech Agent IQ to develop
better systems that benefited both staff
and customers. The partnership helped
the bank grow mobile engagement
efforts through personalization, creating
stronger relationships. (Check out
episode 19 of the Independent Banker
podcast for details.)
As we look to what's next, don't forget
the lessons of the past. Community
bankers have always shown remarkable
strength and resiliency in times of
uncertainty. Next year poses a lot of
interesting opportunities for innovation,
but the work you've done and the
opportunities you have embraced have
set you up for success.
More from ICBA
As we gear up for the grand opening
of our ICBA Center for Innovation in
Atlanta next month and the kickoff of
our sixth ThinkTECH Accelerator, we're
better positioned than ever to help you
on your innovation journey.
Innovation will continue to be a
priority in 2024 as viewed through the
For more information on
generative AI and how it
can help your organization,
sign up for ICBA's AI
Demystified: Webinar
Series Bundle. Learn more
at icba.org
So, as you consider your bank's 2024
innovation journey, be as bold and
resolute as always. Know that as you
pursue innovation, ICBA remains a
trusted partner and advisor on which you
can rely. We are here to serve you in all
things innovation.
On behalf of our innovation team, I
wish you and yours a very happy holiday
season and a prosperous new year.
Charles Potts (charles.potts@icba.org)
is ICBA executive vice president and
chief innovation officer
independentbanker.org // 23
Illustration by Maksym Yemelyanov/Adobe
http://www.icba.org http://www.independentbanker.org
Independent Banker - December 2023

Table of Contents for the Digital Edition of Independent Banker - December 2023
