FOR IMMEDIATE RELEASE – August 24, 2022
Established by FedFis and the Independent Bankers Association of Texas (IBAT) in late 2021, BHB connects bankers nationwide so that they can identify solutions that drive earnings and diversify sources of income. Its mission is to elevate and unite community banks across the United States to compete with large, entrenched financial institutions.
“For BHB to fulfill its promise of helping banks drive earnings, we must give community banks every tool we can to address their challenges and opportunities. As we got to know BankLabs Participate, it was clear that it would enable and empower lenders to say ‘yes,’ even when facing traditional concentration and lending limit roadblocks,” said Dave Mayo, Chief Executive Officer of FedFis.
“We are on a mission to democratize loan trading for all banks, not just those with capital market desks. With Participate, BHB member banks will be able to digitally manage their balance sheet, avoid lending limit and concentration risk, deploy excess liquidity, improve loan yield, and increase non-interest fee income. We could not have found a better partner in BHB.”, said Matt Johnner, President of BankLabs.
The BHB loan marketplace will launch in late 2022.
About BankLabs
BankLabs is a technology company that creates innovative products to help community oriented financial institutions succeed. Products are designed to help banks move money, credits and payments more efficiently and profitably. To best serve the financial institution industry, we seek like-minded partners to collaborate on research and development and/or distribution. BankLabs created the #1 construction loan automation tool in the country and subsequently partnered with Abrigo to take the product to the next level. BankLabs is now revolutionizing the traditionally slow participation process with Participate, the first patented end-to-end loan participation management tool. Participate helps lenders digitize and share loan information, documents, balances and automate workflow. Using Participate, lenders can digitally manage their balance sheet, avoid lending limit and concentration risk, deploy excess liquidity, improve loan yield, and increase non-interest fee income. For more information visit www.banklabs.com.
About FedFis
FedFis provides financial institutions fintech data analytics and a strategy system that tracks Financial, M&A, and Vendor data (including technology vendors) on every bank and credit union in the United States. FedFis is committed to “truth in banking”, by helping community bankers understand which products and services will best pair with their existing technology to drive the strategic outcomes for which they strive. They are first and foremost, a family business of precisionists. Fifth-generation bankers and technology experts with incredible depth and passion for the banking industry. For more information visit, www.fedfis.com.
About IBAT
Formed in 1974, the Independent Bankers Association of Texas (IBAT) represents Texas community banks. The Austin-based group is the largest state community banking organization in the nation, with membership comprised of more than 2,000 banks and branches in 700 Texas communities. Providing safe and responsible financial services to all Texas, IBAT member bank assets range in size from $27 million to $39 billion with combined assets statewide of nearly $256 billion. IBAT member banks are committed to supporting and investing in their local communities. For more information visit, ibat.org.
For more information or questions about this release, please contact Rachel Hernandez at rachel@fedfis.com or 512.284.4987
