Core Banking

DR BANK ANNOUNCES PARTNERSHIP WITH BOMBAS

DR Bank | May 23, 2022

DR_BANK_ANNOUNCES
DR Bank is proud to partner with premium basics brand Bombas through their internal Giving Initiative program by donating 1,000 pairs of Bombas donation socks. Bombas is a comfort-focused, digitally native brand that provides elevated basics and helps those in need. The company was originally founded in 2013 because socks are the #1 most requested clothing item at homeless shelters. For every item purchased, a specially designed item is donated to the homeless community.

DR Bank chose to donate these socks to two local organizations, Person to Person and New Covenant Center.

Person to Person is a Darien, CT based organization that serves lower Fairfield County providing groceries, clothing, care programs, emergency assistance, and more to anyone in need.

We are so grateful to DR Bank and Bombas for this wonderful donation. These are beautiful, good quality socks and the people we serve will be so grateful to have them. We applaud this company and all others who commit themselves to giving back to the community." 

Nancy Coughlin, Chief Executive Officer.

The New Covenant Center is a Stamford, CT based organization that provides food and services to the local homeless population. "New Covenant Center is grateful to accept the 500 adult-sized pairs of socks donation from DR Bank and the partnership they have with NYC apparel company, Bombas. DR Bank has been a longtime supporter of New Covenant and we're excited to have them onboard - focusing on our Toiletry Program for our Café clients." 

John Gutman, Executive Director.

To be able to partner with such a socially conscious organization like Bombas to benefit two great local charities, is a wonderful opportunity for the Bank! DR Bank has been giving back to local charities throughout Fairfield County since we opened our doors in 2006 We hope to do much more of this in 2022 and years to come!"

John Barbalaco, EVP & Chief Banking Officer.

DR Bank
DR Bank is headquartered in Darien with a branch in Rowayton. They offer the same customer service and attentiveness of a community bank with the financial services and technology of a larger bank.

Whether you're stopping by, or banking on the go, their team of experts are there to help. They are committed to long-term relationships and offer the conveniences and financial services you expect from a larger bank, with the incredible rates, safety, and personal attention you won't find anywhere but home.

Spotlight

Today’s businesses are shifting to a digital-first, cloud-first model as more and more customers and clients expect seamless, on-demand access to financial systems and data. At the same time, there is another shift towards tax automation due to ever-changing regulations and compliance requirements – which will continue to evolve

Spotlight

Today’s businesses are shifting to a digital-first, cloud-first model as more and more customers and clients expect seamless, on-demand access to financial systems and data. At the same time, there is another shift towards tax automation due to ever-changing regulations and compliance requirements – which will continue to evolve

Related News

Financial Management, Investments

Alkami Launches First Engagement Artificial Intelligence (AI) Predictive Model for Financial Services Industry

PR Newswire | August 10, 2023

Alkami Technology, Inc. (Nasdaq: ALKT) ("Alkami"), a leading cloud-based digital banking solutions provider for financial institutions in the U.S., has developed and launched an Engagement AI Model via its AI Predictive Modeling solution. The new model—the first of its kind in the industry—combines artificial intelligence (AI), machine learning (ML), and Alkami's proprietary Key Lifestyle Indicators® (KLIs) empowering financial institutions to identify account holders who demonstrate behaviors most likely to lead to retention and account growth, and increase their engagement with products, service offerings and digital channels. Financial institutions can use an attrition model to identify account holders that have a high risk of leaving, allowing the institution a chance to develop win-back strategies. According to Alkami's internal research, account holders who score the highest risk for attrition are, on average, 15x more likely to leave a financial institution than account holders who score as highly engaged. Alkami's Engagement AI Model inverts their attrition model so financial institutions can focus their time and budget where it matters most—in retaining and growing their engaged account holders. "When we looked at the full spectrum of attrition scoring, our research showed that attrition is significantly lower among highly engaged account holders, so we developed a model that not only identifies these highly engaged account holders but also layers in Alkami's KLIs—labels describing the type of transaction or behavior a customer or member engages in—to best predict which behaviors drive incremental engagement," said Mark Leher, director, product management at Alkami. "The model assesses the entire universe of a financial institution's account holders on a daily basis to identify those account holders exhibiting behaviors that have historically led to deeper engagement," Leher continued. "This allows the financial institution to auto-surface highly relevant campaigns that are more effective at driving growth. Not only does this save on account acquisition costs, but it also empowers the financial institution to engage with those who are more likely to take action on a targeted campaign." About Alkami Alkami Technology, Inc. is a leading cloud-based digital banking solutions provider for financial institutions in the United States that enables clients to grow confidently, adapt quickly, and build thriving digital communities. Alkami helps clients transform through retail and business banking, digital account opening, payment security, and data analytics and marketing solutions. To learn more, visit www.alkami.com.

Read More

Core Banking, Financial Management

Third Coast Bank Joins the Bankers Helping Bankers BaaS Association

PR Newswire | August 25, 2023

Third Coast Bancshares, Inc. (NASDAQ: TCBX), ("Third Coast"), the holding company of Third Coast Bank, today announced that it has joined the Bankers Helping Bankers (BHB) Banking-as-a-Service (BaaS) Association. The BaaS Association is a premiere governance association whose primary goals include BaaS education, regulatory collaboration, and community bank sponsorship to source new revenue streams. BaaS is a highly specialized area seeing a tremendous increase in bank participation to meet the growing demand from Financial Technology (FinTech) platforms and financial start-ups. Bankers Helping Bankers launched the BaaS Association in April 2022 via a bankers-only platform for collaboration and education. Through data tools and dynamic user groups, Bankers Helping Bankers provides community bankers with a knowledge base focused on bank technology and emerging FinTech companies, in areas such as BaaS, becoming a sponsor bank and launching a direct digital brand. JK Walker, Managing Director of Innovation and Regional President at Third Coast Bank, said, "Community banking is at the heart of Third Coast Bank's business strategy and while we have been focusing on core business initiatives, we have naturally stepped into the FinTech revolution where technology and innovation are converging on exciting opportunities for customers and banks alike. "Our entrepreneurial spirit aligns perfectly with the cutting-edge solutions available now due to BaaS partnerships between a FinTech and a bank. We are thrilled to have joined a similarly focused group of bankers building the future of payments, service, and security in banking," concluded JK Walker. The BHB BaaS Association partnership will provide Third Coast Bank with the ability to share BaaS best practices through collaboration, stay ahead of key compliance and risk management initiatives, and remain in close contact with regulators on the changing regulatory environment around BaaS, as well as network with FinTech companies looking for a BaaS bank sponsor. "Community Banks like Third Coast Bank are the lifeblood of small businesses and provide access to credit at the local level. Banking-as-a-Service is bringing new opportunities to consumers and communities through partnerships with businesses that allow banking products to be extended, unbound by geography. We believe this is the next step in delivering on the mission of community banking," said Tanner Mayo, Co-Founder of The BaaS Association. Since its inception in 2008, Third Coast Bank has had a passion for serving the needs of its customers and pioneering innovative financial solutions. Now with BaaS partnerships as part of its business strategy, the Bank can deliver on its commitment to an even larger customer base. About Third Coast Bank Third Coast Bancshares, Inc. (Nasdaq: TCBX) is a commercially focused, Texas-based bank holding company operating primarily in the Greater Houston, Dallas-Fort Worth, and Austin-San Antonio markets through its wholly owned subsidiary, Third Coast Bank. Founded in 2008 in Humble, Texas, Third Coast Bank conducts banking operations through 16 branches and one loan production office encompassing the four largest metropolitan areas in Texas. For more information, please visit www.tcbssb.com. About The BaaS Association The BaaS Association is the voice of the BaaS (Banking-as-a-Service) industry. The association promotes, supports, and advocates for BaaS sponsor banks which help serve millions of customers in a safe and compliant manner. The BaaS association represents over 80% of current BaaS sponsor banks operating across the United States. The BaaS Association provides education, collaboration, and best-in-class practices that serve the unique needs of BaaS Sponsor banks. The BaaS Association also helps establish sound bank-fintech partnerships, including those who provide banking services for underbanked and underserved communities.

Read More

Investment Management, Fintech

LoanPro Announces Strategic Minority Equity Investment in TrueNorth

PR Newswire | August 16, 2023

LoanPro, the market-leading modern lending platform, today announced its strategic minority equity investment in TrueNorth, a leading global financial technology services company. This momentous step further solidifies the strong partnership between the two companies, driving innovation and delivering enhanced value to their customers in the financial services industry. A recent survey by The Financial Brand revealed that 75% of financial institutions plan to increase their innovation spending over the next year. Recognizing the pressing need for adaptable solutions in the finance sector, LoanPro's strategic investment in TrueNorth represents a proactive response to this industrywide trend. By embracing a forward-thinking approach and leveraging TrueNorth's expertise, LoanPro aims to accelerate innovation, providing current and future customers with groundbreaking financial products and services. "With LoanPro's commitment to customer delight, we're focused on driving innovation across financial services through our modern lending platform. Our investment in TrueNorth solidifies our ability to quickly launch new products that drive innovation for current and future customers," says LoanPro Co-Founder and CEO, Rhett Roberts. TrueNorth, renowned for its track record in building successful financial services solutions, brings unparalleled expertise to the partnership. Having pioneered digital banking solutions and executed over 120 digital transformations, TrueNorth is well-positioned to steer this joint initiative towards transformative achievements in the financial services sector. "We are excited to strengthen our ties with LoanPro and work towards a shared vision of growth and innovation," stated Alex Gonikman, CEO of TrueNorth. "Through LoanPro's best-in-class lending platform, we look forward to enriching the experiences of our current customers and contributing to the advancement of LoanPro's existing customer base." About LoanPro LoanPro is the market-leading modern lending platform enabling lenders to innovate quicker, driving loan volume while optimizing operational efficiency. Today, 600+ lenders use LoanPro to holistically uplevel their borrower, agent, and back-office experiences. LoanPro's mission of providing the platform to innovate the future of finance is currently enabled through its composable architecture, allowing lenders to enhance their origination, servicing, payments and collections, and borrower CRM using the foundation of a modern lending core. About TrueNorth TrueNorth.co is one of the largest and most successful financial technology services companies in the world having built three fintech unicorns from scratch–Upgrade, LendingClub, and Dianrong. The company specializes in enabling digital banking solutions, having built 45 original enterprises, 120 digital transformations and 40 product revamps. TrueNorth's unique Team Captain client-focused approach enables its most senior engineers to navigate and apply the latest technologies to develop and integrate cutting-edge digital solutions for the financial services industry. TrueNorth is headquartered in New York City, with development centers across the globe, and strategic offices across the U.S.

Read More