New, fully dedicated fintech innovation studio within the organization
WILMINGTON, Del.--(BUSINESS WIRE)--
The Bancorp, Inc. (NASDAQ: TBBK) today announced the creation of a new,
fully dedicated fintech innovation studio: Cube8–Where powerful ideas
incubate.
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Set apart from the daily business operations of The Bancorp, Cube8 is a
space where The Bancorp will explore unconventional–even radical–ideas
in financial technologies to inspire changes or new opportunities that
could enhance the organization’s business strategies, contribute to
operational efficiency, and generate incremental revenue.
“The fintech space continues to evolve at a rapid rate, and we envision
Cube8 being at the forefront of this movement,” said Damian Kozlowski,
CEO and President. “The Bancorp has robust systems and employee
expertise that make our current services for clients best in class.
There is no better time than now to focus our efforts on innovation to
take our businesses to the next level.”
Some innovations will be proprietary, while others will be worked on in
conjunction with other leading fintech companies. Cube8’s initial focus
will be on digital lending, digital payments, mobile payments, and
blockchain technologies. The team will also work to achieve efficiencies
in the Anti-Money Laundering/Bank Secrecy Act ecosystem, big data, and
artificial intelligence technologies.
The Cube8 team will be led by Pete Chiccino, Chief Innovation Officer,
and based in West Chester, Pa.
“With the singular focus of this group, we believe that we can take
truly powerful and innovative ideas and turn them into business-driving
and industry-leading services for The Bancorp,” said Chiccino. “I am
excited at the opportunity to lead this initiative to help define the
future of The Bancorp.”
About The Bancorp
With operations in the US and Europe, The Bancorp, Inc. (NASDAQ: TBBK)
is dedicated to serving the unique needs of non-bank financial service
companies, ranging from entrepreneurial start-ups to those on the
Fortune 500. The company’s primary subsidiary, The Bancorp Bank (Member
FDIC, Equal Housing Lender), has been repeatedly recognized in the
payments industry as the Top Issuer of Prepaid Cards (U.S.), a top
merchant sponsor bank, and a top ACH originator. Specialized lending
distinctions include National Preferred SBA Lender, a leading provider
of securities-backed lines of credit, and one of the few bank-owned
commercial leasing groups in the nation. For more information, please
visit www.thebancorp.com.
View source version on businesswire.com: http://www.businesswire.com/news/home/20161130005745/en/
The Bancorp Media Relations
Rob Tacey, Director, Public
Relations
302-385-1418
rtacey@thebancorp.com
or
The
Bancorp, Inc. Investor Relations
Andres Viroslav, Director,
Investor Relations
215-861-7990
aviroslav@thebancorp.com
Source: The Bancorp, Inc.