FINBOA Selected for ICBA ThinkTECH Accelerator Program

Fintech to join seventh cohort to develop process automation solutions for community banks

HOUSTON, May 15, 2024 /PRNewswire/ -- FINBOA Inc., a leading innovator in intelligent process automation for regulatory compliance in financial institutions, announced today its selection to the Independent Community Bankers of America®'s (ICBA) ThinkTECH Accelerator Program, which kicks off May 19 at the ICBA Center for Innovation in Atlanta.

The selected companies are focused on supporting several top areas critical for today's community bankers, including analytics, automation, onboarding and compliance. The second of two accelerator programs planned for 2024, these solutions will provide vital support for community banks nationwide.

"As a leading presence in the financial technology solutions market, we are thrilled to participate in the ICBA ThinkTECH Accelerator, a vital source of banking innovation since 2019," said Raj Singal, Founder and CEO of FINBOA. "FINBOA helps financial institutions address the challenges impacting their organizations and customers by applying intelligent process automation to efficiently manage the growth in fraud and non-fraud payment dispute claims, while also transforming and digitizing back office processing to ensure compliance."

FINBOA provides banking-specific process automation solutions to improve regulatory compliance, operational efficiency, and the customer experience by eliminating manual systems or processes. The company's SaaS software simplifies and streamlines payment dispute processing for financial institutions of all asset sizes.

FINBOA's mission is to transform manual compliance processing with intelligent automation, freeing people to do more meaningful work, while enabling financial institution growth. FINBOA SaaS solutions offer data integration with most banking core systems and are PCI/DSS compliant and easy-to-use.

Since its inception, the ICBA ThinkTECH Accelerator program has connected the most innovative, cutting-edge fintech companies in the world with more than 1,400 community bankers and industry leaders — identifying and designing workable solutions that solve for today's modern banking needs. Participants receive mentorship from a distinguished network of industry stakeholders through an immersive 10-week bootcamp and then present their refined offerings to community bank executives during a live demo later this summer.

"We are excited to have FINBOA join us as a member of our latest ThinkTECH accelerator cohort," ICBA Executive Vice President and Chief Innovation Officer Charles Potts said. "Too often, today's community banks are challenged by operational inefficiencies in their internal legacy payment processes, which can lead to compliance headaches. Technologies that can update, automate and streamline these critical areas can offer them a game-changing solution and help alleviate these pain points."

For more information about FINBOA Payment Disputes solution, visit www.finboa.com. For more information about the ICBA ThinkTECH Accelerator, visit www.icba.org/accelerator.

About FINBOA
FINBOA provides intelligent process automation software to banks and credit unions to simplify dispute processing and improve regulatory compliance by eliminating manual systems. Leveraging extensive industry experience and a commitment to customer experience, FINBOA delivers transformative software proven to enable institutional growth by reducing operational costs and risk.

Headquartered in Houston, FINBOA is trusted to help over 200 financial institutions nationwide achieve targeted business outcomes and peace of mind.

About ICBA
The Independent Community Bankers of America® has one mission: to create and promote an environment where community banks flourish. We power the potential of the nation's community banks through effective advocacy, education, and innovation.

As local and trusted sources of credit, America's community banks leverage their relationship-based business model and innovative offerings to channel deposits into the neighborhoods they serve, creating jobs, fostering economic prosperity, and fueling their customers' financial goals and dreams. For more information, visit ICBA's website at icba.org.

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SOURCE FINBOA