In 2018, a small group of community bankers sat around a boardroom table brainstorming ideas on how to promote the innovative technology products that were offered at their bank. It was there that the concept for National Fin Tech Day was born.
On July 11, 2018 those bankers from Somerset Trust Company, an independent community bank with more than $1 billion in assets, announced the establishment of the inaugural "National Fintech Day" on Aug. 20, 2018. Together with the bank's long-time digital banking partner, Malauzai - a Finastra company, and others, the celebration recognizes the continued collaboration between financial institutions and technology providers to launch innovative services and solutions that meet the shifting demands of today’s customer, while developing solutions for the next-generation of account holders.
“FinTech is critical to the future of banking,” said John Gill, chief operating officer for Somerset Trust Company. “The use of smartphones for mobile banking, investing services and cryptocurrency are current examples of technologies aiming to make financial services more accessible to the general public. In an ever-changing world collaboration between banks and financial technology companies is becoming increasingly important. As a financial institution we partner with numerous FinTech companies to provide outstanding and innovative products and services to our customers. We are proud to designate August 20th as National FinTech Day to celebrate these partnerships and the innovative products that have resulted from them.”
Over the last decade, Somerset Trust Company has broadened and strengthened its community bank franchise. While engaged in expansion activity within its geographic footprint, the bank has a firm commitment to the communities it serves and has effectively used technology to better serve customers.
About Somerset Trust Company
Somerset Trust Company, with more than $1 billion in assets, is a community bank headquartered in Somerset, Pa. with a network of 34 branches serving Somerset, Cambria, Fayette, Westmoreland, and Bedford Counties and Garrett County, Maryland. The bank also offers an extensive ATM network, consumer and commercial lending services, an online and mobile banking platform as well as Trust and Investment Management services. Since 1889, Somerset Trust has been committed to providing excellent service and competitive products as well as maintaining a high profile in the growth and economic development of the markets it serves.
About Malauzai Software
Malauzai – a Finastra company, was incorporated in 2010 in Austin, Texas, in response to the growing demand for innovative mobile technology solutions for community financial organizations across the US. As a cool company in a cool town with a focus primarily on community banks and credit unions, we provide consumer, small and larger business, and employee SmartApps™, that enhance the customer experience for mobile and Internet banking, ultimately resulting in increased value for financial institutions. Malauzai was acquired by Finastra, a global financial technology company, in June 2018. Together we deliver a fully integrated open core platform for payments, lending and digital. Please visit Malauzai.com.