For Immediate Release
October 17, 2016

ABA Media Contact: Sarah Grano
(202) 663-5470
Email: sgrano@aba.com
Follow us on Twitter: @ABABankers

ABA Unveils Fintech Playbook for Bank CEOs

 ​WASHINGTON — The American Bankers Association today unveiled a Fintech Playbook for bank CEOs at its annual convention in Nashville. In collaboration with Accenture, ABA developed the Fintech Playbook to help bankers build and execute a strategic plan to leverage new technologies and remain competitive.

“This is clearly a transformative time for the financial services industry. The rapid convergence of banking and technology is reshaping how banks and their customers interact,” said Rob Nichols, ABA president and CEO. “This tool will help banks, particularly community banks, navigate the dynamic field of technological innovations.”
 
The Fintech Playbook, available only to ABA bank members, analyzes digital technologies at all levels and in all areas of the business: channels, lines of business, and bank platforms and processes. It also recommends a four-phase approach to implementation.
 
The playbook describes 18 technologies and, based on an analysis by Accenture, their potential dollar value for banks. It also features a prioritization matrix to help bankers understand the level of potential benefits and the difficulty of implementation for each of the 18 technologies.
 
This project is the result of a recommendation made by the ABA Fintech Task Force. In an initiative announced earlier this year, Nichols convened two staff task forces to bring together ABA’s work on fintech and millennials and make recommendations that can benefit the entire industry. The task force recommendations were presented to ABA’s leadership at a meeting in July.
 
“These teams have been at work for several months, reimagining our role in helping banks connect with millennials and fintech, and I’m proud to share the first tangible result,” said Nichols.
 
ABA also rolled out aba.com/fintech, which brings together all of ABA’s fintech resources, including the playbook, ABA Endorsed Solutions providers and advocacy efforts. Additional resources will be added to the page as they are available.
 
To see the Fintech Playbook executive summary, click here.
 
The American Bankers Association is the voice of the nation’s $16 trillion banking industry, which is composed of small, regional and large banks that together employ more than 2 million people, safeguard $12 trillion in deposits and extend more than $8 trillion in loans.
 
# # #