Small Iowa Community Bank Becoming a Fintech Hub

Lincoln Savings Bank is a 117-year-old community bank based in Iowa; but five years ago they started a fintech initiative dubbed LSBX and now they boast an A-List fintech client base including MoneyLion, Qapital, Acorns and Square Cash; LSBX handles the deposit products for these fintech clients but they expect to add additional capabilities as the fintechs themselves evolve; Mike McCrary, 1st VP, Relationship Manager of Lincoln Savings Bank who is the driving force behind LSBX said, “We knew there were going to be more and more of these fintechs out there and they would be ‘banks’ one way or another and we believed we could support them.” Source.

Peter Renton is the chairman and co-founder of LendIt Fintech, the world’s first and largest digital media and events company focused on fintech.

LendIt Fintech conducts three conferences a year for the leading fintech markets of the USA, Europe, and Latin America. LendIt also provides cutting-edge content all year long via audio, video, and written channels.

Peter has been writing about fintech since 2010 and he is the author and creator of the Fintech One-on-One Podcast, the first and longest-running fintech interview series.

Peter has been interviewed by the Wall Street Journal, Bloomberg, The New York Times, CNBC, CNN, Fortune, NPR, Fox Business News, the Financial Times, and dozens of other publications.

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