Lincoln Savings Bank is a 117-year-old community bank based in Iowa; but five years ago they started a fintech initiative dubbed LSBX and now they boast an A-List fintech client base including MoneyLion, Qapital, Acorns and Square Cash; LSBX handles the deposit products for these fintech clients but they expect to add additional capabilities as the fintechs themselves evolve; Mike McCrary, 1st VP, Relationship Manager of Lincoln Savings Bank who is the driving force behind LSBX said, “We knew there were going to be more and more of these fintechs out there and they would be ‘banks’ one way or another and we believed we could support them.” Source.
