Small Iowa Community Bank Becoming a Fintech Hub

Lincoln Savings Bank is a 117-year-old community bank based in Iowa; but five years ago they started a fintech initiative dubbed LSBX and now they boast an A-List fintech client base including MoneyLion, Qapital, Acorns and Square Cash; LSBX handles the deposit products for these fintech clients but they expect to add additional capabilities as the fintechs themselves evolve; Mike McCrary, 1st VP, Relationship Manager of Lincoln Savings Bank who is the driving force behind LSBX said, “We knew there were going to be more and more of these fintechs out there and they would be ‘banks’ one way or another and we believed we could support them.” Source.

  • Peter Renton

    Peter Renton is the chairman and co-founder of Fintech Nexus, the world’s largest digital media company focused on fintech. Peter has been writing about fintech since 2010 and he is the author and creator of the Fintech One-on-One Podcast, the first and longest-running fintech interview series.