Contributors: Joe Fenech and The Travillian Group, LLC
For banks, the ongoing convergence of banking and technology is quite possibly the most intriguing development of the last decade. The companies that make up our Index, along with the others that will join this group in the months to come, are at the forefront of this convergence and have thrived. They hail from all over the United States and have been early industry adopters of financial technology with specialties such as Banking as a Service, Payments, Gaming and Crypto. These institutions have made bold decisions born out of consumers’ desires to transact differently and as a means to create inventive solutions for unique, underbanked or unbanked populations. They have also jumped at the opportunity to utilize their bank charter to provide the “plumbing” for FinTechs large and small.
These banks have been transforming their organizations and, in many cases, embracing new technologies well before an established peer group was recognized in the industry. As one Chairman told us, “we’re building an airplane as we’re flying it.” And, as they built these “airplanes”, the companies dramatically improved performance, with ROE’s of 20%, 30% and even 50%, and positioned their bank for a bright future.
These banks have been transforming their organizations and, in many cases, embracing new technologies well before an established peer group was recognized in the industry. As one Chairman told us, “we’re building an airplane as we’re flying it.” And, as they built these “airplanes”, the companies dramatically improved performance, with ROE’s of 20%, 30% and even 50%, and positioned their bank for a bright future.
|
January 20, 2022
Share Price Performance of Travillian Tech-Forward Banks Significantly Outpaced Peers In 2021 by Joe Fenech It’s been clear for some time now that Tech-Forward banks are separating from the pack. The Travillian Tech-Forward Bank Index was created last year to help identify a select subset of the bank sector that we felt was at the forefront of the convergence of traditional banking and fintech. Each company that was selected benefitted from “first-mover” advantage in their early embrace of technological change and were among the leaders in their area of fintech expertise... [read more] |
|
THE TECH-FORWARD BANK INDEX
- RELEASED JANUARY 2022 -
> The Bancorp, Inc. (The Bancorp Bank) Wilmington, DE
Public – NASDAQGS: TBBK
Headquarters: Wilmington, DE Date Established: 7/28/2000, IPO Date: 2/3/2004 Asset Size: $6.27 billion Market Cap. ($M): 1,529.9 (as of 1/7/2022) 52 Week High/Low: 33.36 / 14.81 (as of 1/7/2022) FinTech Specialty: Fintech Partnership Key FinTech Partners: Current, XTM Inc., Chime Chairman of the Board: James Joseph "Jay" McEntee III President, CEO & Director: Damian M. Kozlowski Website: www.thebancorp.com |
For over 20 years, The Bancorp has been providing nonbank companies with the people, processes and banking technology to meet their individual needs. As a result, The Bancorp has become an industry-leading provider of reliable technology-forward solutions that move our partners’ businesses into the future. The Bancorp is the essential partner to help you build, maintain and grow your business.
|
> Capital Bancorp, Inc. (Capital Bank, N.A.) ROCKVILLE, MD
Public – NASDAQGS: CBNK
Headquarters: Rockville, MD Date Established: 12/14/1999, IPO Date: 09/25/2018 Asset Size: $2.12 billion Market Cap. ($M): 360.6 (as of 1/7/2022) 52 Week High/Low: 28.16/ 13.81 (as of 1/7/2022) FinTech Specialty: Card/Payments Key FinTech Partners: N/A Chairman of the Board: Steven J. Schwartz President, CEO & Director: Edward F. Barry Website: www.capitalbankmd.com |
"We charted a path to be a little different. We decided to invest in things where we thought the world was going verses where the world has been. As a team, we started to build capabilities around data, analytics, technology, digital marketing, all different skillsets that you normally wouldn't see at a small community bank."
- Edward Barry, President, CEO & Director |
> Celtic Bank CORPORation Salt lake city, ut
|
Privately-Held
Headquarters: Salt Lake City, UT Date Established: 3/1/2001 Asset Size: $2.71 billion FinTech Specialty: SBA Key FinTech Partners: Affirm, Square Capital Chairman & CEO: Reese S. Howell Jr. President & COO: Todd Boren Website: www.celticbank.com |
Founded in 2001 and headquartered in Salt Lake City, Utah, Celtic Bank provides financing for small businesses. Celtic Bank helps business owners with working capital, expansion, acquisition, construction, equipment financing, real estate purchases, refinances, and more.
|
> customers bancorp, inc. (customers bank) west reading, pa
|
Public – NYSE: CUBI
Headquarters: West Reading, PA Date Established: 6/26/1997, IPO Date: 4/4/2012 Asset Size: $19.1 billion Market Cap. ($M): 2,426.7 (as of 1/7/2022) 52 Week High/Low: 72.83 / 20.97 (as of 1/7/2022) FinTech Specialty: Tech-Forward Key FinTech Partners: OakNorth, Genesis, Blockfills, GSR Executive Chairman: Jay S. Sidhu President, CEO & Vice Chairman: Samvir S. Sidhu Website: www.customersbank.com |
Founded in 2009, Customers Bank is a super-community bank with almost $20 billion in assets as of June 30, 2021. We believe in dedicated personal service for the businesses, professionals, individuals and families we work with.
|
> Metropolitan Bank Holding Corp. (Metropolitan Commercial Bank) New York, NY
Public – NYSE: MCB
Headquarters: New York, NY Date Established: 6/22/1999, IPO Date: 11/07/2017 Asset Size: $6.13 billion Market Cap. ($M): 1,178.8 (as of 1/7/2022) 52 Week High/Low: 110.44 / 35.80 (as of 1/7/2022) FinTech Specialty: Payments, Cannabis, Crypto Key FinTech Partners: Modern Treasury, Current Chairman of the Board: William P. "Bill" Reinhardt President, CEO & Director: Mark R. DeFazio Website: www.metropolitanbankny.com |
"Metropolitan Commercial Bank is two companies in one. We have the very diversified, very successful growth company known as Metropolitan Commercial Bank. Then we have this global payments business that interacts and partners with fintech companies around the globe. We have a global presence, many of our clients are global in nature coming to the US and for their expansions plan. We provide them access to the payments and we facilitate the settlement of payments or just the movement of money around the world."
- Mark DeFazio, President, CEO, & Director |
ONE TO WATCH > piermont bank NEW YORK, NY
Privately-Held
Headquarters: New York, NY Date Established: 7/1/2019 Asset Size: $346 million FinTech Specialty: BaaS Key FinTech Partners: Treasury Prime, Nerve Chairman of the Board: Julia S. Gouw CEO & Director: Wendy Cai-Lee Website: www.piermontbank.com |
"What's unique about Piermont is that we are not a legacy bank. We are not slowed down by any of the legacy systems or processes. We are built to reflect and built as a fintech ourselves. That relevance and that understanding of the importance to scale, and an importance to scale faster, and an importance to continue to innovate, is critically important to the fintech success as well as to Piermont and that will be our continued focus in 2022, 2023, and the years beyond."
- Wendy Cai-Lee, CEO & Director |
> Provident Bancorp, Inc. (BankProv) AmesBury, MA
Public – NASDAQCM: PVBC
Headquarters: Amesbury, MA Date Established: 1/1/1828, IPO Date: 10/16/2019 Asset Size: $1.62 billion Market Cap. ($M): 325.1 (as of 1/7/2022) 52 Week High/Low: 20.14 / 10.82 (as of 1/7/2022) FinTech Specialty: BaaS, Crypto Key FinTech Partners: Treasury Prime, Modern Treasury, Fintel Connect Chairman of the Board: Joseph B. "Joe" Reilly President, CEO & Director: David P. "Dave" Mansfield Website: www.bankprov.com |
"BankProv is a commercial bank focused on finding and providing solutions for business and private clients with a special focus on cryptocurrency and BaaS. We are one of the oldest banks in the country, but ultimately we have transformed into a very innovative, adaptive, tech-focosed bank, that offers a variety of solutions to support emerging markets like cryptocurrency, BaaS, and alternative energy, just to name a few."
- Joe Mancini, Chief Operating Officer |
> Sutton Bancshares, Inc. (Sutton Bank) attica, oh
|
Privately-Held
Headquarters: Attica, OH Date Established: 2/12/1878 Asset Size: $1.19 billion FinTech Specialty: Payments Key FinTech Partners: MK Decision, Marqeta Chairman of the Board: Eric A. Gillett CEO & Director: James Anthony "Tony" Gorrell Website: www.suttonbank.com |
A progressive, privately held independent, community bank, Sutton Bank has consistently been named one of the top small business and agricultural lenders in the State of Ohio. This supports their dedication to meeting the financial needs of the community, and their commitment to providing exceptional customer service with local decision-making.
|
> triumph Bancorp, Inc. (TBK Bank, SSB) Dallas, tx
|
Public – NASDAQGS: TBK
Headquarters: Dallas, TX Date Established: 07/15/1981, IPO Date: 11/6/2014 Asset Size: $6.00 billion Market Cap. ($M): 2,984.8 (as of 1/7/2022) 52 Week High/Low: 136.02 / 55.31 (as of 1/7/2022) FinTech Specialty: Payments Key FinTech Partners: TriumphPay Chairman of the Board: Carlos M. Sepulveda, Jr. President & CEO: Aaron P. Graft Website: www.tbkbank.com |
Triumph is a values-driven financial service company focused on creating value by helping their team members thrive, their customers succeed and their communities prosper.
|
- RELEASED SEPTEMBER 2021 -
> AXOS FINANCIAL, INC. (AXOS BANK) LAS VEGAS, NV
Public – NYSE: AX
Headquarters: Las Vegas, NV Date Established: 7/4/2000, IPO Date: 3/14/2005 Asset Size: $14.9 billion Market Cap. ($M): 3,225.2 (as of 1/21/2022) 52 Week High/Low: 54.42 / 53.15 (as of 1/21/2022) FinTech Specialty: Digital Banking Key FinTech Partners: Open Lending Chairman of the Board: Paul Jaron Grinberg President, CEO & Director: Gregory Garrabrants Website: www.axosbank.com |
“We’ve brought in a number of security space businesses and we recently launched within our financial services platform a robo advisor as well as a stock trading platform. The idea behind this platform that we built is that it would have a broad range of digital product and services that would be differentiated based on the ability to integrate those products and services in a seamless way to a digital experience. And for that digital experience to be informed by data about the customer based on the usage and what that customer tells us.”
- Gregory Garrabrants, President, CEO, & Director |
> CENTRAL BANK OF KANSAS CITY / CENTRAL PAYMENTS KANSAS CITY, MO
Privately-Held
Headquarters: Kansas City, MO & Dell Rapids, SD Date Established: 8/10/1950 Asset Size: $320 million FinTech Specialty: Payments Key FinTech Partners: Ceridian’s Dayforce Wallet, First Boulevard, Falls Fintech (their FinTech accelerator), Paysend Chairman of the Board: Joseph C. Tutera President & CEO of Central Payments: Trent Sorbe Website: www.centralbankkc.com |
"Payments has really allowed us to take a technology forward approach to everything we do. We like to refer to concepts like “technology, charter, and choice” as we describe our open API platform, Open CP… a fintech API marketplace that companies come into us and have access to the whole Payments ecosystem. So everything from card manufacturing, customer service, ID verification, transaction processing, and everything else – we become the hub or the gateway to that service."
Trent Sorbe, President & CEO |
> CHOICE FINANCIAL GROUP (CHOICE BANK) FARGO, ND
Privately-Held
Headquarters: Fargo, ND Date Established: 1/1/1906 Asset Size: $3.05 billion FinTech Specialty: BaaS Key FinTech Partners: Lively, Current, Lili, Douugh |
“We’ve tried to create a diverse experience of various backgrounds of fintech businesses that come from the HSA world, the payment delivery world, to simple deposit banking transactions, that help us be in touch with what the consumer wants and how to deliver to them but equally to deliver to the fintech partner themselves.”
- Brian Johnson, President, CEO, & Director |
> FIRST INTERNET BANCORP (FIRST INTERNET BANK OF INDIANA) FISHERS, IN
Public – NASDAQGS: INBK
Headquarters: Fishers, IN Date Established: 12/28/1998 Asset Size: $4.21 billion Market Cap. ($M): 490.1 (as of 1/21/2022) 52 Week High/Low: 53.56 / 28.05 (as of 1/21/2022) FinTech Specialty: Tech-Forward / Digital Banking Key FinTech Partners: Lendeavor, Inc., FedNow, Blend |
"We purchase our systems and operate on a SaaS model. We do not do a lot of internal development. We do spend a lot of time on API trying to stay true to our original routes of everything being interconnected so the customer gets a real time picture of all the activity and all the services and products they use with the bank. We have what we consider to be a 14 cord systems, linked in that real time environment."
- David Becker, Chairman, Founder, & CEO |
ONE TO WATCH > LEAD BANK KANSAS CITY, MO
Privately-Held
Headquarters: Kansas City, MO Date Established: 1/12/1928 Asset Size: $745 million FinTech Specialty: BaaS, Payments Key FinTech Partners: ClosingCostHelp.com, LoanMe, Dama Financial, Self Financial Chairman of the Board: Sarah F. Rowland CEO & Vice Chairman: Joshua Carr Rowland Website: www.lead.bank |
“…The digital domain has showed us that people still expect, and they deserve, genuine relationships, that make them feel better, stronger, less afraid, more secure, and reveal the path to more opportunity. And that’s what we do at Lead Bank.”
- Joshua Rowland, CEO & Vice Chairman |
> TRANSPORTATION ALLIANCE BANK (TAB BANK) OGDEN, UT
Privately-Held
Headquarters: Ogden, UT Date Established: 10/01/1998 Asset Size: $1.23 billion FinTech Specialty: Payments Key FinTech Partners: MuleSoft, Volante, FlexShopper Chairman of the Board: Richard L. "Rick" Bozzelli President & CEO: Curt Queyrouze CFO: R. Boyd Hunter Website: www.tabbank.com |
“TAB’s been around for 22 years but what’s interesting about TAB is that we’ve never had a branch. We’re a unique bank that long before we had mobile phones and technology we were operating over the internet and providing banking services. And what makes TAB unique is probably our origins and our history which was serving truck drivers. TAB has always leaned in to handling a community that has trouble accessing banking services at any given point in time.”
- Curt Queyrouze, President & CEO |
- RELEASED MAY 2021 -
> Blue Ridge Bankshares, Inc. (Blue Ridge Bank) CharlottEsville, VA
Public - NYSEAM: BRBS
Headquarters: Charlottesville, VA Date Established: 4/14/1893, IPO Date: 2019 Asset Size: $2.69 billion Market Cap. ($M): 332.7 (as of 1/21/2022) 52 Week High/Low: 19.22 / 12.00 (as of 1/21/2022) FinTech Specialty: Tech-Forward/Crypto Key FinTech Partners: Unit, Flex, Grow Credit |
“We also have a partnership that has recently drawn some coverage working in the area of ISAs. We’re believers in ISAs as a means to affordable college education and allowing the empowerment of education access away from the traditional student lending model that puts students in situations where they rack up debt.”
- Brian Plum, CEO & President |
> Coastal Financial Corporation (Coastal Community Bank) [Full report INSIDE] Everett, WA
Public - NASDAQGS: CCB
Headquarters: Everett, WA Date Established: 4/1/1997, IPO Date: 7/17/2018 Asset Size: $2.45 billion Market Cap. ($M): 613.6 (as of 1/21/2022) 52 Week High/Low: 54.41/19.61 (as of 1/21/2022) FinTech Specialty: BaaS Key FinTech Partners: 21 active partners including: One, Carta, Aspiration, Ellevest, Novi, Sable, Cheese, Google Plex Chairman of the Board: Christopher D. Adams President, CEO & Director: Eric M. Sprink Website: www.coastalbank.com |
“Some of the recent success we’ve had has been building a diversified portfolio. 75% of our fin tech
founders and CEO’s are from communities of color or females, or are representing communities that don’t have normal access to the banking system.” - Eric Sprink, President, CEO & Director 
|
> Cross River Bank Fort Lee, NJ
Privately-Held
Headquarters: Fort Lee, NJ Date Established: 06/23/2008 Asset Size: $11.4 billion FinTech Specialty: BaaS, Payments Key FinTech Partners: affirm, best egg, coinbase, FINIX Payments, freedomplus, Rocket Loans, RS2, stripe, Upstart, Visa Chairman, President & CEO: Gilles Gade CFO: Kris Pease Website: www.crossriver.com |
“When we think about who Cross River is, it’s really a platform. It’s a platform that allows people to do really interesting things, solve difficult problems and to really think about what banking should be on their terms.”
- Jesse Honigberg, Technology Chief of Staff |
> Evolve Bancorp, Inc (Evolve Bank & Trust) Memphis, TN
Privately-Held
Headquarters: Memphis, TN Date Established: 6/5/1925 Asset Size: $628 million FinTech Specialty: BaaS, Payments Key FinTech Partners: Synaps Chairman of the Board: B. Scot Lenoir President, CEO & Director: W. Scott "William" Stafford Website: www.getevolved.com |
On Payments and ACH: “We work with all of the major processors: Galileo, i2c, Marqeta, as well as
having our own native, issuing stack…We were also proud to announce that in 2020, we were named to be one of the top 50 ACH originators in the country.” - Hank Word, Chief Technology Officer |
> Lincoln Savings Bank Reinbeck, IA
Privately-Held
Headquarters: Reinbeck, IA Date Established: 1902 Asset Size: $1.43 billion FinTech Specialty: BaaS Key FinTech Partners: Qapital, Acorns, M1 Chairman of the Board: Milton Dakovich President & CEO: Erik Skovgard Website: www.mylsb.com |
“The fun part for me, before we started our fin-tech relationships, we had about eighteen thousands customers,
and as of today we have over two million customers.” - Erik Skovgard, President & CEO |
> Live Oak Bancshares, Inc. (Live Oak Bank) Wilmington, NC
Public - NASDAQGS: LOB
Headquarters: Wilmington, NC Date Established: 3/31/2009, IPO Date: 7/23/2015 Asset Size: $8.13 billion Market Cap. ($M): 2,613.2 (as of 1/21/2022) 52 Week High/Low: 99.89 / 38.50 (as of 1/21/2022) FinTech Specialty: SBA Key FinTech Partners: investments in Finxact, payrailz, defense storm, savana, greenlight, apiture Chairman & CEO: James S. "Chip" Mahan III President & Director: Neil Lawrence Underwood Website: www.liveoakbank.com |
Live Oak is a digitally-focused bank serving customers nationwide. From innovations in small business lending, to digital banking, to its remarkable track record as a tech incubator, the company is clearly at the leading edge of the convergence between traditional banking and technology. Stay tuned for a video introduction by Live Oak’s senior leadership team and further in-depth analysis.
|
> Meta Financial Group, Inc. (MetaBank) Sioux Falls, SD
Public - NASDAQGS: CASH
Headquarters: Sioux Falls, SD Date Established: 2/22/1954, IPO Date: 9/20/1993 Asset Size: $6.69 billion Market Cap. ($M): 1,700.6 (as of 1/21/2022) 52 Week High/Low: 65.96 / 36.16 (as of 1/21/2022) FinTech Specialty: Payments Key FinTech Partners: MoneyLion, KyckGlobal, H&R Block Chairman of the Board: Douglas J. Hajek CEO & Director: Bret L. Pharr Website: www.metabank.com |
“We looked at how we could reach into multiple processing platforms across the industry, so that we could provide the most flexibility and the most reach into the marketplace for all the fin-techs that are emerging…in order to facilitate and enable them to provide those services”
- Brad Hanson, President, CEO & Director |
> MVB Financial Corp. (MVB Bank) Fairmont, WV
Public - NASDAQCM: MVBF
Headquarters: Fairmont, WV Date Established: 1/4/1999, IPO Date: 2006 Asset Size: $2.78 billion Market Cap. ($M): 479.9 (as of 1/21/2022) 52 Week High/Low: 45.94 / 22.29 (as of 1/21/2022) FinTech Specialty: Payments, Gaming Key FinTech Partners: Credit Karma Chairman of the Board: David B. Alvarez President & CEO: Larry F. Mazza Website: www.mvbbanking.com |
“We have become a Banking as a Service (BaaS) bank and our biggest client right now is Credit Karma. 20 years it took us to open 20K accounts. When we signed on with Credit Karma, who is a market juggernaut, we opened up over 4M accounts within 18 months. Our life has changed dramatically and that’s what inspires us to say hey we can do this with a number of clients and probably impact a lot of people” -
- Larry Mazza, President & CEO |
> NBKC Bank Kansas City, MO
Privately-Held
Headquarters: Kansas City, MO Date Established: 3/29/1999 Asset Size: $1.13 billion FinTech Specialty: Payments Key FinTech Partners: Betterment, Joust, Truebill, Digs President & CEO: Brian A. Unruh CFO: Eric Garretson Website: www.nbkc.com |
“It’s really starting on the ground floor with a start-up (fin-tech) or a company that wants to launch a new
product. We are the pilot bank for them. And so we found that (to be) very successful. Some of those we’ve actually made investments in personally.” - Eric Garretson, CFO & EVP Fintech Strategy Leader |
> Signature Bank New York, NY
Public - NASDAQGS: SBNY
Headquarters: New York, NY Date Established: 4/12/2001, IPO Date: 3/22/2004 Asset Size: $118.4 billion Market Cap. ($M): 18,833.2 (as of 1/21/2022) 52 Week High/Low: 374.76 / 156.66 (as of 1/21/2022) FinTech Specialty: Tech-Forward/Crypto Key FinTech Partners: Voyager, digital payments, polychain Capital, bitflyer USA Chairman of the Board: Scott Aaron Shay President, CEO & Director: Joseph John "Joe" DePaolo Website: www.signatureny.com |
Through its blockchain-based payments platform, Signet, Signature Bank has rapidly established itself as a leader in digital asset banking. The company banks the top five crypto exchanges and has seen extraordinary growth in low-cost deposits. Stay tuned for our deep dive analysis and future interactions with Signature’s management team.
|
> Silvergate Capital Corporation (Silvergate Bank) La Jolla, CA
Public - NYSE: SI
Headquarters: La Jolla, CA Date Established: 8/26/1988, IPO Date: 11/6/2019 Asset Size: $16.0 billion Market Cap. ($M): 2,710.4 (as of 1/21/2022) 52 Week High/Low: 239.26 / 76.15 (as of 1/21/2022) FinTech Specialty: Crypto Key FinTech Partners: Diem Networks US, Inc., Anchorage Digital Chairman of the Board: Michael T. (Mike) Lempres President, CEO & Director: Alan J. Lane Website: www.silvergate.com |
“The Silvergate Exchange Network (SEN) is our proprietary real time US Dollar Settlement system,
that is API enabled…used by firms like Coinbase, Gemini, Square, Paypal, and Robinhood.” - Ben Reynolds, Chief Strategy Officer |
ONE TO WATCH > Communities First Financial Corporation (Fresno First Bank) Fresno, CA
Public - OTCQX: CFST
Headquarters: Fresno, CA Date Established: 12/23/2005 Asset Size: $1.08 billion Market Cap. ($M): 179.4 (as of 1/21/2022) 52 Week High/Low: 59.50/ 33.10 (as of 1/21/2022) FinTech Specialty: Payments Chairman of the Board: Mark D. Saleh President, CEO & Director: Steven Kenneth Miller Website: www.fresnofirstbank.com |
“Our acquiring license and our appetite to want to play in [the payments] space gives us a seat at the table as a small bank. We think that’s where the fun stuff is happening.”
- Steve Miller, CEO |
How We Selected The Banks
As a reminder, this is a list of banks that we deem to be at the forefront of the convergence of traditional banking and fintech. Over time, more companies will be added to the Index. Our main objective is to create a forum to highlight, discuss, and track interesting companies and trends within this unique subset of the bank sector. To that end, we wanted our list to represent a cross-section of this tech-forward bank subset, by size, geography, and tech specialty.
It’s important to point out that the order of appearance on our list is not a ranking or recommendation of, or a preference for, those companies (and stocks) that are listed first, but rather a source of information for bankers, analysts, investors, media, and others seeking to learn more about, and interact with, this group of tech-forward banks.
What Do We Intend To Do With This List
In the coming weeks and months, we will produce in-depth fundamental and valuation analysis of the group, conduct insightful interviews, host live webinars, publish “deep dive” analysis and highlight new developments at each of the subject companies, and unveil new members of the Index. As the convergence between traditional banking and technology accelerates in years ahead, we will look to increasingly brand these companies and tech-forward banks in general as a unique subset of the bank sector. We hope you enjoy the short introductory video presentations by executive leaders at the banks selected for our list. Much more to come!
As a reminder, this is a list of banks that we deem to be at the forefront of the convergence of traditional banking and fintech. Over time, more companies will be added to the Index. Our main objective is to create a forum to highlight, discuss, and track interesting companies and trends within this unique subset of the bank sector. To that end, we wanted our list to represent a cross-section of this tech-forward bank subset, by size, geography, and tech specialty.
It’s important to point out that the order of appearance on our list is not a ranking or recommendation of, or a preference for, those companies (and stocks) that are listed first, but rather a source of information for bankers, analysts, investors, media, and others seeking to learn more about, and interact with, this group of tech-forward banks.
What Do We Intend To Do With This List
In the coming weeks and months, we will produce in-depth fundamental and valuation analysis of the group, conduct insightful interviews, host live webinars, publish “deep dive” analysis and highlight new developments at each of the subject companies, and unveil new members of the Index. As the convergence between traditional banking and technology accelerates in years ahead, we will look to increasingly brand these companies and tech-forward banks in general as a unique subset of the bank sector. We hope you enjoy the short introductory video presentations by executive leaders at the banks selected for our list. Much more to come!
Joe Fenech is the Managing Principal of SMBT Consulting, LLC, which provides consulting services to banks. The article represents the views and beliefs of Mr. Fenech and does not purport to be complete. The information in this article is provided to you as of the dates indicated and the data and facts presented herein may change. You should not rely on this article as the basis upon which to make an investment decision; this article is not intended to provide, and should not be relied upon for, tax, legal, accounting or investment advice. Mr. Fenech is also the Chief Investment Officer and Managing Member of GenOpp Capital Management LLC, an investment adviser that maintains exempt reporting status in the State of Indiana. Affiliates of SMBT Consulting, LLC may recommend to such affiliates’ clients the purchase or sale of securities of companies discussed in articles published by SMBT Consulting, LLC.
