Texas Bankers Association Digitizes With True Digital

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Texas Bankers Association Digitizes With True Digital

Texas Bankers Association (TBA) is working with True Digital, a digital banking marketplace, to fill technology voids within community banking.

True Digital will allow TBA members to understand the technology stack of its members and "have an in-depth view of their peer banks' vendors, which will facilitate bank collaboration and provide added benefits to the True Digital platform's vendor discovery and optimization tools," Patrick Sells, co-founder and chief executive of True Digital, told BAN.

TBA members understand the importance of innovating digital capabilities but lack the resources needed to effectively assess and implement new products, Sells said.

"An essential part of the vendor evaluation process is being able to identify and connect with other banks that may have similar tech stacks and have already partnered with vendors under consideration," Sells said. "These connections allow FIs to learn how well the technology works with various core or operating systems and better understand a vendor's capabilities before initiating partnerships."

The 380 bank members of TBA, including the $4 billion First National Bank Texas, will be able to use True Digital's Platform to better understand banks within TBA "that have similar technology and how they can work together to make the best possible vendor selections," Chris Furlow, president and chief executive of TBA, told BAN.

Nearly 78% of TBA members and other banks surveyed by True Digital in the past few weeks indicated that finding the right vendors is very important to their bank's. strategic plan, Furlow said. The True Digital platform is a low-cost tool accessible to banks of all sizes, as "they operate on a subscription-based model, with varying tiers dependent on a bank's asset size (from $2,500 up to $10,000)," he added.

"Almost 100% of our banks will be looking to add or change a vendor at some point in the next year or two," Furlow said. "Optimizing current vendor relationships, or discovering and implementing new ones, is crucial to the success and growth of our community banks."

Note: This information was originally shared via a Bank Automation News article.