BLUE BELL, PA — Rego Payment Architectures announced its participation in the Independent Community Bankers of America® (ICBA) ThinkTECH Accelerator Program. This initiative, set to commence on May 19 at the ICBA Center for Innovation in Atlanta, marks a significant move towards integrating modern financial technologies with traditional community banking systems.
Rego Payment Architectures, under the leadership of CEO Peter S. Pelullo, has garnered attention for its digital family wallet platform designed to empower young users with the knowledge to make sound financial decisions under parental oversight. “We are thrilled to participate in the ICBA ThinkTECH Accelerator, a vital source of community banking innovation since 2019,” said Pelullo. He emphasized the platform’s focus on data privacy, noting its compliance with the Children’s Online Privacy Protection Act (COPPA), as certified by PRIVO.
The ThinkTECH Accelerator Program plays a crucial role in connecting fintech companies with over 1,400 community bankers and industry leaders to collaborate on solutions addressing modern banking challenges. The program, celebrated for fostering innovation through a rigorous 10-week bootcamp, culminates in participants showcasing their technologies to executives in a live demo.
This year’s accelerator focuses on key areas such as onboarding, analytics, automation, and compliance, critical components for the evolution of community banking. Rego Payment Architectures’ selection to participate underscores the pressing need for banks to adapt to the digital age while maintaining the personalized service that community banks are known for.
ICBA Executive Vice President and Chief Innovation Officer Charles Potts expressed his enthusiasm for Rego’s inclusion. “Technologies like REGO can play a vital role helping to build trust and begin to establish future relationships today,” Potts remarked, highlighting the importance of instilling financial literacy and responsibility in younger generations.
The collaboration between Rego Payment Architectures and the ICBA ThinkTECH Accelerator portends a promising future for community banking, suggesting a shift towards more inclusive, innovative services that cater to the needs of younger customers. By integrating such technologies, community banks not only position themselves as stewards of financial education but also as pivotal players in the rapidly evolving financial services sector.
This initiative represents a proactive approach to bridging the gap between traditional banking practices and the increasing demand for digital financial solutions, laying the groundwork for a future where community banks continue to serve as pillars of local economies, albeit in a more digitally savvy manner.
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