CCG Catalyst and Arizona Banking Association launch fintech council
CCG Catalyst, a Phoenix-headquartered bank and fintech consulting firm, has launched the Arizona Fintech Council in partnership with the Arizona Banking Association, the trade association for the state’s community banks and financial services firms.
The fintech council will work to bring promising financial technology companies to Arizona’s “Fintech Sandbox” – which eases regulatory burden by having no domicile restrictions on financial institutions and fintech applicants.
“The unique nature of our state’s fintech sandbox law and our relationship with the national consultancy of CCG Catalyst put us in a position to maximize this economic development opportunity to bring these transformational companies to Arizona,” said Paul Hickman, president and CEO of the Arizona Bankers Association.
The council will help financial institutions and fintechs connect with each other, assess startups’ readiness to collaborate on new products and services, and assist in creating proofs of concept.
Participating banks and financial services firms will have the ability to enter partnerships with, invest in, or acquire participating fintechs.
In addition to the Arizona Banking Association member banks, the council will also include select outside financial institutions, as well as stakeholders from government and academia.
Arizona State University, for example, will partner with the council to help its students network with financial services firms.
Other organizations, such as the Arizona Commerce Authority and Arizona Technology Council, will also continue their efforts to attract fintechs to the state.
“Under Governor Ducey’s leadership, Arizona was the first state in the nation to establish a fintech sandbox program, demonstrating our commitment to embracing the emerging technologies that will shape our future,” said Sandra Watson, Arizona Commerce Authority’s president and CEO. “The Arizona Fintech Council will further advance our state’s reputation as a hub for innovation in the financial services industry, and the ACA is proud to participate in the effort alongside partners statewide.”
The Arizona Fintech Council will also host regular summits, where fintechs selected by CCG Catalyst’s recommendation will showcase their ideas to financial institutions. The fintech program will be led and managed by Scarlett Sieber, chief strategy and innovation officer at CCG, and Miranda Jenkins, chief operations officer.
“The combination of banking and fintech is a natural progression within the industry and CCG Catalyst is excited to be part of this evolution,” said Paul Schaus, president and CEO of CCG Catalyst.
CCG Catalyst helps banks, fintechs, and credit unions improve their performance with offerings across strategy, operations, technology, and mergers and acquisitions. The firm has more than 30 professionals across offices in Phoenix, New York, London, and Singapore.
