Fintech to join seventh cohort to develop process automation
solutions for community banks
HOUSTON, May 15, 2024
/PRNewswire/ -- FINBOA Inc., a leading innovator in intelligent
process automation for regulatory compliance in financial
institutions, announced today its selection to the Independent
Community Bankers of America®'s (ICBA) ThinkTECH Accelerator
Program, which kicks off May 19 at
the ICBA Center for Innovation in Atlanta.
The selected companies are focused on supporting several top
areas critical for today's community bankers, including analytics,
automation, onboarding and compliance. The second of two
accelerator programs planned for 2024, these solutions will provide
vital support for community banks nationwide.
"As a leading presence in the financial technology solutions
market, we are thrilled to participate in the ICBA ThinkTECH
Accelerator, a vital source of banking innovation since 2019," said
Raj Singal, Founder and CEO of FINBOA. "FINBOA helps financial
institutions address the challenges impacting their organizations
and customers by applying intelligent process automation to
efficiently manage the growth in fraud and
non-fraud payment dispute claims, while also
transforming and digitizing back office processing to ensure
compliance."
FINBOA provides banking-specific process automation solutions to
improve regulatory compliance, operational efficiency, and the
customer experience by eliminating manual systems or processes. The
company's SaaS software simplifies and streamlines payment dispute
processing for financial institutions of all asset sizes.
FINBOA's mission is to transform manual compliance processing
with intelligent automation, freeing people to do more meaningful
work, while enabling financial institution growth. FINBOA SaaS
solutions offer data integration with most banking core systems and
are PCI/DSS compliant and easy-to-use.
Since its inception, the ICBA ThinkTECH Accelerator program has
connected the most innovative, cutting-edge fintech companies in
the world with more than 1,400 community bankers and industry
leaders — identifying and designing workable solutions that solve
for today's modern banking needs. Participants receive mentorship
from a distinguished network of industry stakeholders through an
immersive 10-week bootcamp and then present their refined offerings
to community bank executives during a live demo later this
summer.
"We are excited to have FINBOA join us as a member of our latest
ThinkTECH accelerator cohort," ICBA Executive Vice President and
Chief Innovation Officer Charles
Potts said. "Too often, today's community banks are
challenged by operational inefficiencies in their internal legacy
payment processes, which can lead to compliance
headaches. Technologies that can update, automate and
streamline these critical areas can offer them a game-changing
solution and help alleviate these pain points."
For more information about FINBOA Payment Disputes solution,
visit www.finboa.com. For more information about the ICBA ThinkTECH
Accelerator, visit www.icba.org/accelerator.
About FINBOA
FINBOA provides intelligent
process automation software to banks and credit unions to simplify
dispute processing and improve regulatory compliance by eliminating
manual systems. Leveraging extensive industry experience and a
commitment to customer experience, FINBOA delivers transformative
software proven to enable institutional growth by reducing
operational costs and risk.
Headquartered in Houston,
FINBOA is trusted to help over 200 financial institutions
nationwide achieve targeted business outcomes and peace of
mind.
About ICBA
The Independent Community Bankers of
America® has one mission: to create and promote an environment
where community banks flourish. We power the potential of the
nation's community banks through effective advocacy, education, and
innovation.
As local and trusted sources of credit, America's community
banks leverage their relationship-based business model and
innovative offerings to channel deposits into the neighborhoods
they serve, creating jobs, fostering economic prosperity, and
fueling their customers' financial goals and dreams. For more
information, visit ICBA's website at icba.org.
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SOURCE FINBOA