Independent Banker - December 2021 - 29

PORTFOLIO INNOVATION STATION
Next: Jim Reber takes a banker's portfolio questions 
2021: A
year of
awakening
By Charles Potts, ICBA
uilding on the digital solutions
put in place for Paycheck
Protection Program (PPP) loans
in 2020, community bankers have
expanded their digital services and
channels to meet their customers'
evolving needs and serve their
communities. These achievements are
real, impactful and worthy of praise.
But I also wanted to recognize the
widespread acceptance of innovation
I've witnessed among community
bankers during 2021, another
challenging year.
We tripled the number of bank
participants for this year's ICBA
ThinkTECH Accelerator, hosting more
than 500 decision makers for solutions
primed to address member bank
needs. In response to bankers' requests
for additional insights, we've launched
the ICBA ThinkTECH Innovation
Series and the Communities of
Innovation podcast (icba.org/podcast)
to discuss emerging topics such as
cryptocurrency and banking as a
service (BaaS).
Dispelling myths
This awakening to innovation among
community banks continues to
spread. Hundreds of institutions are
pursuing strong, proactive growth
and focused, tactical lines of business.
Aggressive, targeted action by bankers
is dispelling the myth that community
banks are not engaged or innovative.
B
Take, for example, Queensborough
National Bank & Trust Co. in Augusta,
Ga. It created an innovation center to
expand product testing before deciding
to add Spanish-speaking skills to its
interactive teller machines (ITMs).
" I want to leverage technology to
create a human experience, and that's
what we did with ITMs, " says Kimberly
Kirk, executive vice president and chief
operations offi cer. " It was a leverage
of technology, but you still have live
human beings on those video screens
to be able to support those customers. "
The essence of innovation
While we have some early adopters
out there shining bright, I think
this coming year, we're going to see
explosive growth as more community
banks follow suit. Some are taking
baby steps, but they're still rolling out
new lines of business by using digital
tools and service channels to address
marketplace needs. Community banks
of all sizes are no longer talking about
innovation; they're doing it.
In one episode of our podcast, CEO
Eric Sprink of Coastal Community
Bank made an important point that
bears repeating: Community banks'
awakening to innovation and the
subsequent journey forward is an
evolution, not a revolution. Rather
than one big bang, it's a steady
drumbeat forward. Take that to heart.
The essence of the innovation process
is iteration, experimentation, testing
and review.
Another takeaway from this year is
the importance of collaboration. We
try to make this a big part of what we
do at ICBA, because when community
bankers come together to exchange
ideas and learn from one another, the
whole industry grows stronger.
Community bankers' awakening
to new possibilities has made for an
impactful year and will help position
community banks to fl ourish in 2022
and beyond. 
Charles Potts (charles.potts@icba.org)
is ICBA's senior vice president and
chief innovation off icer
independentbanker.org Q 25
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Independent Banker - December 2021

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