Relationship Building: Insights from the ICBA Preferred Service Provider Engagement Forum
Nov. 22, 2024
Ninety-two percent of ICBA member banks rely on at least one ICBA Preferred Service Provider (PSP), and 52% of ICBA members say they would not be able to provide some services without ICBA, 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 Atlanta office, brought together 15 PSPs, 7 ThinkTECH Accelerator alumni, and a fantastic panel of community bankers—Derek Williams of Century Bank & Trust, Michael Burke Jr. of ChoiceOne Bank, and Ross Mynatt of Craft Bank—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 ThinkTECH Solutions Forum, ThinkTECH Connect, ThinkTECH Accelerator, and Expo floor during ICBA LIVE, our events allow for 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.
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’re paving the way for a stronger future for community banking.