The American Fintech Council (AFC), an industry association representing responsible fintech companies and innovative banks, has announced the addition of Lincoln Savings Bank (LSB) as its newest member. Founded in 1902, LSB is owned and managed by Iowans and offers full-service community banking and financial services, along with fintech and banking as a service offerings through its LSBX division. At AFC, LSB joins other companies driving the future of financial services with customer-oriented solutions.
“Lincoln Savings Bank is a national innovator with deep roots in Iowa communities, qualities that reflect AFC’s focus on financial inclusion and customer-centric services,” said Phil Goldfeder, Chief Executive Officer of AFC. “As AFC members collaborate to strengthen and improve the financial services landscape, we are excited to welcome a bank with a leading-edge banking as a service platform and over 120 years of storied experience in designing responsible innovations that meet community needs.”
Lincoln Savings Bank expanded its national footprint by launching LSBX in 2014 to empower broader, digitally connected communities by offering various services to the rapidly-growing fintech industry. The bank has focused on sustained, responsible growth while remaining rooted in its original mission of serving local communities.
“Lincoln Savings Bank has always been committed to advancing the financial well-being of its customers through innovative and forward-thinking strategies,” said Sean Willett, CEO of Lincoln Savings Bank. “By joining AFC, we look forward to deepening our collaboration with other forward-thinking organizations and fintechs to ensure all responsible players can expand digital offerings and deliver cutting-edge financial products that drive value for all customers and communities.”
A standards-based organization, AFC represents some of the largest financial technology companies and innovative BaaS banks. Its mission is to promote a transparent, inclusive, and customer-centric financial system by supporting responsible innovation in financial services and encouraging sound public policy. AFC members foster competition in consumer finance and pioneer products to better serve underserved consumer segments and geographies.
About Lincoln Savings Bank:
Founded in 1902, Lincoln Savings Bank focuses on helping businesses grow and protecting customers' assets through advanced financial technology while maintaining strong community support. For more information, visit MyLSB.com. Member FDIC.