True Digital Group (True Digital), provider of the industry’s first-of-its-kind vendor discovery and performance platform that specifically enables financial institutions to more effectively partner with technology vendors, announced today it has formed a partnership with the Mid-Size Bank Coalition of America (MBCA), a distinct and singularly focused "self-help" community for America's mid-size banks. The True Digital Platform, which just recently launched, is available to all member banks.
Across the country mid-size banks are supporting entrepreneurs, farmers, professionals, and their businesses and families. Mid-size banks fuel their growth and build stronger connections to the communities in which they operate. MBCA is proud to be their voice.
Brent Tjarks, Executive Director at MBCA, said, “Our new utility, powered by True Digital, helps level the playing field for mid-size banks, enabling them to collaboratively leverage the memberships’ collective vendor experiences and analytical tools at scale and apply data-driven insights as only larger banks previously could. MBCA member banks can take advantage of the most advanced, dynamic analytics as a fully supported service to transform their vendor evaluation and management into actionable insights to improve performance and outcomes – and compete more effectively in today’s digital world.”
The True Digital Platform is designed to support financial institutions as they work to discover, vet, implement and monitor technology vendors. It manages and provides neutral insights that empower these institutions to better navigate technology partnerships through action-oriented data, experience-based insights from peer financial institutions and connections that are native to bankers.
“The time, cost and frustration of vetting, onboarding and monitoring new technology vendors is something that impacts banks of all sizes,” said Jeff Starke, CIO at Republic Bank and Trust, a MBCA member bank. “This platform will completely change the way we find vendors and better understand their performance within a financial institution. This will have a huge impact on our ability to innovate for our customers.”
“The True Digital Platform is uniquely positioned to help banks of all sizes navigate the sea of technology vendors in financial services,” said Jesse Honigberg, EVP, Products and Platforms of MBCA member bank Customers Bank. “Their community-oriented, vendor-agnostic approach allows for organizations to get an honest perspective from real users that are not cherry-picked by the vendor being evaluated. There are few simpler decisions to make these days – and immediate value from the unbiased viewpoints and unparalleled insights provided by the True Digital Platform make it one of easiest and best decisions of 2023 – for all bankers.”
CEO and Co-Founder of True Digital, Patrick Sells, said, “As more financial institutions embrace the True Digital Platform and realize the capabilities it has to revolutionize navigating the vendor selection process, this strong partnership with MBCA will be a catalyst in getting more of them excited about joining our community. For financial institutions, choosing new technology partners demands significant time spent performing due diligence and getting references to ensure that the partner is equipped to serve them. Our platform makes that process significantly easier.”
Wyatt Abernethy, EVP, Managing Director of Digital and Treasury Solution at Veritex Community Bank, another MBCA member bank, said, “True Digital provides banks a powerful ability to better manage their vendor partners. Because of how True Digital created a taxonomy for vendors, banks are now easily able to understand if there are potential redundancies in capabilities, opportunities to consolidate, and the ability to upgrade service partners, which make the platform’s ROI exceptional.”
As financial institutions of all sizes look for new ways to ensure customer satisfaction, partnerships with the right vendors are essential to innovation.
“The True Digital Platform allows financial institutions to navigate the world of financial technology with the most focused and actionable information immediately available,” said Jim Reuter, CEO of MBCA member bank FirstBank, Colo. “In short - you can’t be doing tech as a bank in 2023 and not be on this platform.”
Note: This information was originally shared via a Business Wire press release.