WASHINGTON, March 27, 2018 /PRNewswire/ -- Bank Director and Promontory Interfinancial Network have announced the finalists for the 2018 Best of FinXTech Awards, which recognize institutions that exemplify how collaborative efforts can lead to innovative solutions and growth in the banking industry. This year's Award categories included Startup Innovation, Innovative Solution of the Year and Best of FinXTech Partnership.
Startup Innovation Finalists
- Seacoast Banking Corp. + SmartBiz Loans: Stuart, Florida-based Seacoast partnered with online lending marketplace and platform SmartBiz, of San Francisco, to take the bank's Small Business Administration loan business nationwide.
- Radius Bank + Alloy: Radius Bank partnered with FinTech Alloy to help transform into a digital first bank. By using Alloy's smart identity platform and API, Radius can deliver a superior experience to their new customers signing up online – offering an instant decision in 98% of the cases, whilst reducing onboarding fraud by 50%.
- ChoiceOne Financial Services + AutoBooks: ChoiceOne Financial Services of Sparta, Michigan, expanded its services to small business clients by partnering with Detroit-based business banking platform AutoBooks to offer treasury services.
- Pinnacle Financial Partners + Built: Pinnacle partnered with Built, a fintech firm focused on construction lending, to streamline the bank's construction loan management process. Both companies are based in Nashville, Tennessee.
- U.S. Bancorp + SpringFour: Seeking to help mortgage customers that were falling behind on their loan payments, U.S. Bancorp integrated Chicago-based SpringFour into the bank's mortgage servicing operations and website.
- CBW Bank + Yantra Financial Technologies: CBW Bank became the first bank in the U.S. to publish its APIs by working with Yantra Financial Technologies to launch the Y-Labs Marketplace. The Y-Labs Marketplace is an initiative that enables banks to rapidly introduce new payments, products and services with industry specific benefits.
- USAA + Clinc: USAA partnered with the artificial intelligence platform Clinc, based in Ann Arbor, Michigan, to pilot an Amazon Alexa skill that helps USAA members access information about account balances, transactions and spending patterns.
- MVB Financial Corp. + BillGO: MVB and BillGO, based in Fairmont, West Virginia, and Fort Collins, Colorado, respectively, partnered to develop a real-time bill payment solution that improves the financial lives of more than 5 million Americans.
- TCF Financial Corp. + D3 Banking Technology: As part of TCF's digital transformation, the Wayzata, Minnesota-based bank leveraged D3's digital banking platform to improve the customer experience, including a re-designed and intuitive mobile banking app; easier ways to deposit checks, pay bills and transfer money; and advanced budgeting and savings tools.
- Citizens Financial Group + Fundation Group: Citizens Financial, of Providence, Rhode Island, partnered with Fundation, of Reston, Virginia, to digitize the credit delivery process across all channels for small business loans and lines of credit.