ChoiceOne Bank is pleased to announce its selection as one of the country’s “Most Innovative Community Banks” from research conducted by the Independent Community Bankers of America® (ICBA), the nation’s voice for over 5,800 community banks. Twenty community banks were chosen throughout the country for their innovation in the areas of technology, products and branch design.
“We are very excited to stand out as one of the most innovative community banks in the country, and the only bank selected in Michigan,” said ChoiceOne Bank Chief Operating Officer Adom Greenland. “ChoiceOne was selected for our innovative partnerships in technology. As a Michigan community bank, ChoiceOne Bank has partnered with Michigan fintech start-ups to offer innovative banking strategies to our retail and business customers. Each of these partnerships bring cutting edge technology to ChoiceOne customers and help position ChoiceOne as a tech savvy community bank.”
The research for the most innovative community banks looked at innovation in many forms. Often innovation is all about technology, but this study looked at products, services, management philosophy and problems solved to meet a need and make a community a better place. For a complete look at the 20 banks selected, see the article in the Independent Banker announcing the winners.
Two of the Michigan fintech start-ups that ChoiceOne has partnered with are Autobooks and HT Mobile Apps. In working with these start-ups, ChoiceOne’s leadership dedicated significant time to work through the various operational and compliance challenges that come with new partnerships. ChoiceOne has been intentional in partnering with local entrepreneurs that are bringing innovation to Michigan and the banking industry.
Autobooks is a Michigan-based company with headquarters located in Detroit. Autobooks is the first fully integrated payments and accounting platform for small businesses that is delivered through ChoiceOne Bank’s online banking. It is exclusively designed for businesses to provide integrated receivables, payments and accounting– in one convenient and secure place.
In May, ChoiceOne Bank and Autobooks were recognized together as one of four finalists for the 2018 Best of FinXTech Awards in the Startup Innovation category recognizing successful and innovative partnerships between banks and startup fintech companies that have been operating for less than five years.ace during their online banking experience. ChoiceOne Bank was part of a small group of banks in the country to pilot Autobooks, spending considerable time to refine the customer experience, which led to a successful national rollout with many other financial institutions.
Plinqit is provided by Michigan based HT Mobile Apps (HTMA). Plinqit is a mobile savings tool, that provides an easy way for anyone with a checking account to save money using automated transfers into their Plinqit account. Deposits are kept local at ChoiceOne Bank. Plinqit rewards users for reaching their savings goals and referring friends to save. ChoiceOne Bank was the first in the country to offer Plinqit to customers.
As a startup, HTMA needed advice on how to merge the exciting mobile savings product with traditional banking operations and compliance. ChoiceOne executives invested considerable time with HTMA to refine the back-office responsibilities, integration, and compliance with HTMA and ChoiceOne. The teams continue to work closely on the marketing and customer engagement.. This level of involvement has deepened the relationship
ChoiceOne has always taken the lead in offering customers financial technology with mobile banking, mobile deposits, innovative payroll solutions, online loan applications, online account openings and now Plinqit – a digital mobile savings tool. Autobooks combines banking, invoicing, and accounting into a single platform so business customers can do everything they need, without the hassle – in one convenient and secure place during their online banking experience.
“Our customer reception for Autobooks has been amazing with many customers already making the switch from more expensive systems such as QuickBooks,” said Greenland. “As the local community bank, we take pride in supporting our local small business customers. Pursuing innovative strategies by partnering with Michigan fintech companies allows us to offer the best technology to all of our customers along with our best personalized local service. And now we are recognized nationally as one of the most innovative community banks. That’s pretty exciting!”
Autobooks is a fintech company headquartered in Detroit, MI - providing integrated invoicing, payment and accounting software for small businesses. Through Autobooks, financial institutions can become a digital destination for business owners, providing essential back-office services that help build stronger relationships, grow deposits, increase fee-income and proactively identify new lending opportunities. Please visit www.autobooks.co to learn more.
About HT Mobile Apps
Michigan based HT Mobile Apps is an innovative FinTech company, serving banks across the country. HT Mobile Apps has financial institution customers ranging from $30 million in assets to over $18 billion in assets on its platform which is designed to help banks easily and cost effectively roll out innovative new services to attract and retain new customers. The platform today powers a suite of offerings including Banker Jr., Member Jr. and now Plinqit. https://htmobileapps.com/.
The Independent Community Bankers of America®, the nation’s voice for more than 5,800 community banks of all sizes and charter types, is dedicated exclusively to representing the interests of the community banking industry and its membership through effective advocacy, best-in-class education and high-quality products and services. For more information, visit ICBA’s website at www.icba.org.
About ChoiceOne Bank
ChoiceOne Bank is a full-service financial institution with offices in Kent, Ottawa, Muskegon and Newaygo Counties. Member FDIC. ChoiceOne Bank offers insurance and investment products through its subsidiary, ChoiceOne Insurance Agencies, Inc. ChoiceOne Financial Services, Inc. is the holding company headquartered in Sparta, Michigan and the parent corporation of ChoiceOne Bank. The company is publicly traded and is available on the OTCBB under the symbol “COFS.” For more information on the bank, please visit ChoiceOne’s website at www.choiceone.com.