Core Bank Helping to Drive Technology

Jun 4, 2024 | Business, Core Bank, Omaha

Core Bank announced it has joined a consortium of other innovative banks to more effectively and efficiently adopt technology and respond to changing customer needs. The bank is actively collaborating with others to accelerate innovation, build partnership, and make strategic investments to level the playing field to compete against large national players and nimble fintechs.

The Alloy Labs Alliance was launched in 2018 by twelve founding banks from across the country and has since grown to 80+ institutional members with more $250 billion in combined assets, equivalent to a top 20 bank. Members gain increased reach and influence plus a firsthand view of customer needs, industry trends, and strategic focus points because of the group’s combined size and resources.

Together, Alloy Labs members have created CHUCK™, the open payments hub to remove friction from digital payments, and members have collaborated to drive industry standards around new areas such as Banking as a Service, third party diligence, and API security.

“Core Bank has always been committed to delivering the products and services our customers want and need,” said John Sorrell, CEO of Core Bank. “Joining the Alloy Labs Alliance allows us to meet those needs better and faster by helping us bring new innovations to market quickly and efficiently.” Sorrell continues, “We are always looking for new opportunities to drive value to our customers, and now we have a direct line to some of our most forward-thinking peers to help us do that more efficiently and effectively.”

Alloy Labs members work together to drive innovation, build partnerships, and make strategic investments. Members accelerate their transformation agendas through intelligence, member-driven workgroups and centers of excellence, and proprietary insights to tackle some of the most pressing challenges in banking today. Members also have exclusive access to the Alloy Labs Concept Lab, which focuses on accelerating commercial partnerships between banks and earlier stage companies that create unique competitive advantages.

“We are excited that Core Bank has joined the Alloy Labs Alliance,” said Jason Henrichs, CEO of Alloy Labs. “We select fearless banking leaders to join us as active collaborators. They bring a strong commitment to serving their customers, and their contributions will help us innovate new solutions around real customer needs and collaborate on best practices to drive tangible outcomes.”

“The Core Bank team is a great addition to the group’s collective wisdom to help us share risks, costs, and lessons learned to drive results in ways that are not possible by working alone,” added Alloy Labs VP of Market Development Emmett Shipman.