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LSB Awarded 2020 FinTech of the Year

posted Katie Hansen 7/13/2020 in Press Releases

Monday, June 22, 2020, the Technology Association of Iowa kicked off their annual Prometheus Awards, honoring the best technology companies throughout the state. Lincoln Savings Bank was awarded 2020 FinTech of the Year on Monday, beating out other Iowa-based technology companies such as Dwolla, Jack Henry & Associates, MakuSafe, and LenderClose.

Each day, the Technology Association of Iowa announced three of their awards, celebrating Iowa’s technology industry virtually throughout the week. While LSB was also a finalist for Creative Technology Solution (Won by Unity Point Health), and Large Technology Company of the year (won by Hy-Vee), the award for FinTech of the Year helps shine a spotlight on the exciting developments of Lincoln Savings Bank’s LSBX department.  

Having worked with FinTech partners since 2014, Lincoln Savings Bank emerged as an early leader nationally, providing banking-as-a-service to companies such as Qapital, Cash App, Acorns, M1 and more. With over 3 million fintech customers, LSBX is just getting started.

“I couldn’t be more thrilled and thankful to learn that we’ve been recognized as FinTech of the year,” shared Mike McCrary, LSBX Tech Manager. “We began this journey in 2013, at the time looking at ways we might use technology to grow and better serve our customers. Fast forward a few years, a lot of learning, a lot of challenges, and working with some of the most interesting people in the industry, our FinTech business has grown leaps and bounds.”

“We are honored to be recognized as FinTech Company of the Year as part of the Prometheus Awards,” commented Kelly Flege, LSBX Leader. “It has been a journey since the onboarding of our first partner, and nearly three million customers later, we are very appreciative of this recognition. With over $350 million dollars in spend, year to date, and over 13 million card swipes, we know customers are actively using their accounts. We are excited about what the future holds and look forward to working with additional FinTech partners and serving an even greater number of customers around the country.”

LSBX merges traditional payment systems with new and emerging technologies. As an advisor, compliance connection, and bank of record, we partner with financial technology companies wishing to include payment systems on their platforms.
 
LSBX offers financial technology companies:
  • Robust operations and compliance management to build confidence in the integrity of mobile financial technologies.
  • A full array of resources to assist in developing efficient, user-friendly technology solutions.
  • A partner in developing innovative products and services that don’t currently exist.
  • Willingness to think beyond traditional banking products and services in search of what’s next.
As a result, LSBX supports community banking by reducing other costs, diversifying profit centers and making the best financial technology accessible to our customers.

About Lincoln Savings Bank:
Founded in 1902, Lincoln Savings Bank has been headquartered in Reinbeck, Iowa since 1934.  Now with 18 locations, LSB has expanded to offer a variety of bank and financial services to its loyal customers. Member FDIC.

Press Contacts:
Angela Evans, Lincoln Savings Bank, (319) 233-1900

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