More than 90% of ICBA member banks rely on at least one ICBA Preferred Service Provider (PSP) and save an average of $7 million annually by working with our PSPs, according to a recent ICBA member survey. These numbers demonstrate the tremendous value PSPs bring to community banks and highlight why ICBA is dedicated to fostering these relationships.
That’s why we host the annual PSP Engagement Forum—an event designed to bridge the gap between community banks and our trusted providers, ensuring a meaningful exchange of insights and opportunities.
This year’s two-day event, held at our Washington office, brought together 16 PSPs and a fantastic panel of community bankers—Andrew Silsby of Kennebec Savings Bank, Valerie Quiett of M&F Bank, and Dan Moddox of Citizens State Bank of New Castle—to explore how these partnerships drive success for banks and their customers.
A Community Banking Education
The core purpose of the forum is education—from the unique characteristics that define community banking to the evolving financial landscape and the implications for the customers and communities our members serve.
During the forum, we shared details about the challenges and opportunities community banks face, as well as the key priorities for ICBA to help empower PSPs to engage with our banks more effectively and with greater relevance.
The banker panel—a highlight of this year’s event—offered candid insights into how ICBA member banks prefer to evaluate and adopt new technologies and services. Bankers shared that recommendations often come from their team members—those who use tools and software daily—underscoring the importance of user-focused engagement to ensure products align with the day-to-day realities of community banking operations.
Bringing Industry Players Together
Beyond education, the forum provided a platform for PSPs to network with one another, share best practices, and connect with ICBA’s Member Relations Officers. Participants also learned about engagement opportunities designed to deepen their understanding of the industry and forge stronger relationships with community banks.
From ICBA educational offerings like the Principles of Banking course to specialized networking events including our Innovation Workshops, PSP Demo Day Series, and opportunities to engage with our PSPs during ICBA LIVE, our events allow for ongoing collaboration, innovation, and learning.
A Path to Better Engagement
Ultimately, it’s about creating a win-win environment in which community banks can leverage vetted, stable, and secure solutions that help them stay competitive and maintain their community-focused approach. We’re always on the lookout for timely, relevant solutions, so if you know of a solution that is resonating with bankers or are interested in learning more about our PSP program, please reach out.
ICBA’s PSP Engagement Forum and other initiatives demonstrate our dedication to fostering partnerships that benefit community banks. By educating PSPs on the nuances of community banking and creating platforms for collaboration, we’re ensuring that ICBA member banks have access to innovative, secure, and stable solutions tailored to their needs.
Thank you to everyone who participated in this year’s forum. Together, we can solve for the issues and opportunities ahead and support community banks in their innovation journey.
Lauren White is ICBA manager of corporate programs.