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ABA: The American Bankers Association
Press Release

ABA Partners with Alloy Labs to Foster Bank Innovation

Partnership will help community and midsize banks identify, evaluate and implement new technologies

In its latest initiative to speed technology innovation across the banking industry, ABA today announced a strategic partnership with Alloy Labs Alliance. The Alliance, a shared financial innovation lab and consortium co-founded by midsize and community banks, brings banks together to identify, evaluate and implement new technology and innovative products. Alloy is led by the team of financial technology experts at FinTech Forge.
“Through Alloy, community and midsize banks can tap into the technological transformation taking place in banking innovation labs across the country without having to do it on their own,” said ABA President and CEO Rob Nichols. “Our strategic partnership with Alloy is part of ABA’s ongoing commitment to ensure that banks of all sizes have the knowledge, tools and resources they need to serve their customers and communities today and in the future.”
Banks that choose to join Alloy Labs will have immediate access to the partnerships and investments opportunities developed by the consortium as well as proprietary reports, consumer surveys and heatmaps, peer discussions and benchmarking research. Thanks to the strategic partnership, ABA members will be eligible for an exclusive discount to join Alloy Labs. To date, 32 banks have joined.
“Alloy Labs has provided us with the knowledge to lead our team in innovative ways and align our customer priorities, helping us assess and implement the best technologies for our bank,” said Howard Jaffe, president and COO, Inland Bancorp and member of ABA’s Endorsed Solutions Advisory Council. “The key advantage is that the Alliance gives you the benefit of a peer group facing similar challenges and developing similar strategies. Alloy Labs has allowed Inland to innovate faster than we ever could on our own.”
“Community and midsize banks play a critical, intimate role for their customers,” said Jason Henrichs, co-founder of FinTech Forge. “Working as a consortium levels the technological playing field and helps banks improve both the depth and breadth of their innovation efforts.”
After joining, banks choose the level of participation that matches their specific needs, each separately priced:
  • LEARN: Custom In-House Sessions
    Banks can build internal innovation capacity through facilitated in-house sessions aligned with their unique situations and goals. Sessions cover how to build a framework for decision-making, as well as funding and risk management—resulting in repeatable, scalable and sustainable execution.

  • BUILD: Peer Workgroups
    Banks can join an Alloy Labs workgroup, where they will develop and evaluate solutions based on member needs, cost efficiency and risks. The peer-sharing aspect leads to an expanded set of product development and partnership opportunities.

  • EXECUTE: Blueprint and Implementation Kit
    Banks can speed new products to market with specific guidelines that help them achieve faster adoption. The Innovation Blueprint and Implementation Kit includes a complete diligence, compliance and risk management assessment, and a comprehensive adoption roadmap.
Alloy Labs Alliance was founded in 2018 by FinTech Forge and 12 community and midsize banks that have demonstrated leadership in innovation. ABA member banks receive an exclusive discount on Alloy Labs pricing. For more information, visit aba.com/alloy.


About the American Bankers Association

The American Bankers Association is the voice of the nation’s $21.1 trillion banking industry, which is composed of small, regional and large banks that together employ more than 2 million people, safeguard $17 trillion in deposits and extend nearly $11 trillion in loans.

FinTech Forge

FinTech Forge helps financial institutions build and leverage their innovative capacity internally and through strategic fintech partnerships and investments. Their trademark FIRE™process (Fast, Iterative, Responsive Experiments) combines the best practices of modern agile business methods to create value quickly with minimum wasted efforts.

Alloy Labs Alliance

The Alloy Labs Alliance, founded by FinTech Forge along with leading regional and community banks, is a member-driven shared innovation lab that helps members innovate in a way that reduces risks, lowers costs, and shortens the time between ideas and results.

Press Contact

Sarah Grano

(202) 663-5470

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