Independent Community Bankers of America (ICBA) officials are espousing the benefits of the recent BankTech Ventures Fund closing.
BankTech Ventures raised over $115 million in committed capital in its first fund as part of an effort to accelerate technology opportunities and adoption at community banks.
“The support that BankTech Ventures has received from community banks shows how technology has become integral to the customer interactions that are at the heart of community banking,” ICBA Executive Vice President and Chief Innovation Officer Charles Potts, who serves on the BankTech Ventures Investment Committee, said “Supporting the next generation of technology solutions will help community banks deliver memorable customer experiences that are fundamental to our industry’s relationship banking model.”
ICBA officials indicated the organization’s role in the endeavor is to serve as one of the investment managers and a general partner – charged with selecting, investing, and incubating technology solutions addressing community bank concerns while providing value for the fund’s community bank investors.
Community bank investors supporting BankTech Ventures are provided early access to a vetted network of leading and emerging technology solutions. The resources are tailored to address community banks’ business challenges and opportunities.
The ICBA is dedicated to representing the interests of the community banking industry and its membership via advocacy, education, and services.