The Venture Center, Arkansas Bankers Association announce the ten founding companies to launch the inaugural Arkansas Banking Solutions Accelerator
Little Rock, Ark. [September 27, 2024] – The Venture Center, in partnership with the Arkansas Bankers Association, has announced the ten companies selected for the inaugural Arkansas Banking Solutions Accelerator (ABSA). Leveraging the Venture Center’s award-winning global fintech experience and the Arkansas Bankers Association’s statewide membership, ABSA will provide these high-potential startups and growth-stage companies hands-on training to address the latest technology challenges facing Arkansas banks and their customers. The program will introduce commercially ready solutions tailored to the prioritized needs of consumer, commercial, urban, and rural banking customers across the state.
The accelerator follows the successful model of The Venture Center’s Fintech Accelerator, run in partnership with Little Rock-founded technology leader FIS. Past participants of The Venture Center’s Accelerator programs have won numerous industry awards, raised more than $2.5 billion dollars in capital, and established commercial partnerships with leading financial institutions to bring their solutions to market.
The Arkansas Banking Solutions Accelerator founding companies include:
Cirrus Secure – Orchestrates documents for the financial enterprise.
Coverbase – Uses generative AI to automate third-party vendor assessments.
Graphio – An insights driven employee scoring designed to track flight risk, future leaders and engagement
Grounded – A marketplace that allows large depositors to move their cash into community financial institutions.
LexAlign – Boosts treasury customer fraud prevention, retention, sales and deposits.
LendingFront – An embedded cross sell platform that helps banks build a more effective relationship with their hard to reach SMB customers.
Lumio Insight – Helps banks maximize ROI on their data assets.
Posh AI – AI assistants empower frontline staff and transform customer interactions.
Revio Insight – Customer insights solution for banks that uncovers deposit and revenue growth opportunities.
Smart Eye Technology – Prevents unauthorized access with continuous facial recognition.
“At The Venture Center, we exist to drive economic growth and create jobs in Arkansas, and one way we achieve this is through industry-specific accelerator programs, particularly in the financial technology sector,” said Daniel Schutte, Vice President of Innovation at the Venture Center. “We’re thrilled with the strong partnership we’ve built with the Arkansas Bankers Association, and we’re excited about this program and our role in driving innovation in technology, while strengthening Arkansas’ financial ecosystem. We firmly believe that through these ten companies, we will make a meaningful impact.”
Brad Chambless, CEO of Farmers & Merchants Bank and Chair of the Arkansas Bankers Association, expressed his optimism about the positive impact of the accelerator program, stating: “We are confident this [accelerator] is going to be an economic boost for Arkansas. It’s also going to be a boost for the customers who place their trust in the financial institutions in Arkansas, because we want to give them best-in-class, safe services and products.”
“At the Arkansas Economic Development Commission, we champion Arkansas by marketing our state as a great place to live and do business. It’s about working with our communities and advancing the economy. When we think about economic development, we focus on growing jobs through entrepreneurs and small businesses, helping existing companies expand, and recruiting new businesses,” added Clint O’Neal, Executive Director of the Arkansas Economic Development Commission. “There’s a strong legacy here, with Little Rock being the home of fintech, and that legacy will only continue to grow with programs like this.”
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About The Venture Center
The Venture Center is a globally recognized Arkansas-based Entrepreneurial Support Organization (ESO) that helps entrepreneurs turn their start-ups into viable, high-growth businesses. By leveraging the expertise of a world-class team of mentors, intensive programming, and introductions to the investor community, The Venture Center serves as an engine for economic growth in Arkansas and beyond. Learn more at www.venturecenter.co. Follow The Venture Center on Facebook, LinkedIn, Twitter (@VentureCenter), and Instagram.
About Arkansas Bankers Association
The Arkansas Bankers Association (www.arkbankers.org) founded in 1891, is the voice of Arkansas’ $100 billion banking industry, which is composed of small, regional, and large banks that together employ more than 26,000 people. It is the state’s largest and oldest banking industry organization, providing a variety of member services, including educational programs, products and services, publications and a comprehensive government relations program.
For more information, contact:
Viktoria Capek
viktoria.capek@venturecenter.co
770-557-6196