ICBA Bancard Launches Interactive Digital Payments Strategy Tool for Community Bankers

Sep 03, 2019

Washington, D.C. (Sept. 3, 2019)—ICBA Bancard, the payments services subsidiary of the Independent Community Bankers of America® (ICBA), today announced the launch of its interactive tool to help its community bank clients create a custom digital payments strategy. The ICBA Bancard Digital Payments Strategy Tool and GuideSM was designed in partnership with Aite Group.

“Once considered only a transaction on a deposit account, payments have become a focal point of the customer relationship and a critical component of a bank’s strategy and revenue stream,” said ICBA Bancard President and CEO Tina Giorgio. “As community banks evolve to meet their customers’ diverse payments needs, a digital payments strategy can help align disparate initiatives—creating a roadmap that feeds into a bank’s overall strategic plan and expedites its execution.”

Based on market research, the Digital Payments Strategy Tool offers a responsive Q&A assessment questionnaire that provides a custom approach to help community banks:

  1. Evaluate their market position to identify key environmental factors, such as the size of their institution and the number of customers and branches.
  2. Take stock of existing offerings and identify gaps through a series of questions designed to assess their current digital payments product offerings and their plans for near-term changes.
  3. Assess current and future customer needs based on a deeper dive into existing customers and an analysis of targeted customer groups.
  4. Create a realistic roadmap using a model to identify where they fall on the digital payments development spectrum, with recommended steps to continue building their digital payments infrastructure.

“Digital payments are an increasingly important component of a bank’s overall business strategy, and keeping up with the rapid development of new solutions can be challenging,” said ICBA Bancard Chairman Gregory Deckard, who also serves as president, CEO and chairman of State Bank Northwest in Spokane Valley, Wash. "As community banks align their offerings to stay in step with shifting market dynamics, a digital payments strategy can help illuminate the road ahead.”

ICBA Bancard clients enjoy exclusive access to the ICBA Bancard Payments Strategy Tool and Guide for a limited time before it is released to all ICBA members Nov. 4. To learn more about ICBA Bancard, visit www.icbabancard.com.

About ICBA Bancard

ICBA Bancard® is the wholly owned payment services subsidiary of the Independent Community Bankers of America. ICBA Bancard’s community bank issuers generated more than $28 billion in sales volume in 2018 and are ranked collectively as the 24th largest credit card portfolio in the United States. ICBA Bancard enables thousands of community banks to provide competitive credit card, debit card, ATM and merchant processing solutions. The company also provides exclusive services to issuers including its Fraud Loss Protection Plan, marketing support, and product education. For more information, visit www.icbabancard.com.

About ICBA

The Independent Community Bankers of America® creates and promotes an environment where community banks flourish. With more than 50,000 locations nationwide, community banks constitute 99 percent of all banks, employ nearly 750,000 Americans and are the only physical banking presence in one in three U.S. counties. Holding more than $5 trillion in assets, nearly $4 trillion in deposits, and more than $3.4 trillion in loans to consumers, small businesses and the agricultural community, community banks channel local deposits into the Main Streets and neighborhoods they serve, spurring job creation, fostering innovation and fueling their customers’ dreams in communities throughout America. For more information, visit ICBA’s website at www.icba.org.