SPRINGFIELD, Ill., Oct. 2, 2018 /PRNewswire/ -- Illinois National Bank (INB) recently partnered with Plug and Play, a global innovation platform that connects technology startups with investors and corporate partners, to help bring business solutions to life. INB expects the partnership will help the bank continue to make it easier for customers to achieve financial success.
"What excites me the most about working with a community bank like INB is their ability to move fast when it comes to deciding to work with startups," said Plug and Play's Senior Innovation Manager, Matt Helmers. "A partnership with Plug and Play allows INB to meet with early, growth, and, later-stage startup companies to determine if their solutions can solve internal and external problems. Community banks like INB have a competitive advantage when working with startups because they are so nimble, which ultimately leads to piloting, adjusting, and scaling these technology solutions to automate processes for today's mobile and cashless consumers a lot faster."
According to INB's President and CEO Sarah Phalen, INB connected with Plug and Play to assure INB continues to provide innovative digital tools to meet the market's changing needs.
"This is an opportunity to take our aspirations directly to people who are eager to help us find new paths to easier and better banking services," Phalen said. "While our past successes are important, we want our customers to know we are always looking for new and better ways of providing solutions."
INB's collaboration with Plug and Play allows the bank to connect with visionary entrepreneurs from around the world. Founded in 2006 and headquartered in Silicon Valley, Plug and Play helps accelerate technological advancements by giving startups the resources they need to succeed by connecting them to the right businesses. What's unique about Plug and Play from other accelerator programs is the focus on market sectors. INB is part of Plug and Play's FinTech sector which has helped startups develop everything from identity management services to savings tools.
About Illinois National Bank
INB is based in Springfield, Ill. and operates 13 branches and a remittance processing center in Central Illinois. A locally-owned bank, INB provides a full range of banking services to individuals, businesses and municipalities, including commercial and retail banking, mortgage loans, trust and brokerage, and cash management,. For more information, visit www.illinoisnationalbank.com.
About Plug and Play
Plug and Play is a global innovation platform. Since inception in 2006, programs have expanded worldwide to include a presence in over 20 locations globally, giving startups the necessary resources to succeed in Silicon Valley and beyond. With over 6,000 startups and 280 official corporate partners, Plug and Play has created the ultimate startup ecosystem in many industries. Companies in their community have raised over $7 billion in funding, with successful portfolio exits including Danger, Dropbox, Lending Club, and PayPal. www.plugandplaytechcenter.com.