Mount Vernon Bank & Trust agreed on a 10-year core contract with Data Center o move the bank to DCI's integrated InstaKey ATM network and card processing offerings.
FREMONT, CA: Twenty miles outside of Cedar Rapids, IA, Mount Vernon Bank & Trust is making waves in banking fintech, putting banks and fintech firms on notice that they are no longer the only powerhouse game in this sector.
After a long search with a consulting group, the institution was among the latest in Iowa to break with the dominance of big bank fintech oligopolies and agreed on a 10-year core contract with Data Center (DCI), the privately-owned developer of iCore360 core banking software and score go, digital banking solutions for community banks in the nation. The contract also moves the bank to DCI's integrated InstaKey ATM network and card processing offerings.
The Mount Vernon institution is deceptively small, already running above its peers in efficiency, credit quality, and capital strength. And they have bigger aspirations of robust growth and modernization to gain younger-generation depositors. But the bank realized that their legacy technologies were limiting their objectives and needed a more advanced yet cost-effective tech set.
Mount Vernon found everything it is looking for with iCore360, iCoreGO, and InstaKey. And the company looks forward to how they will help it better serve its customers instead of managing unruly technology and multiple vendors. The bank wanted a key tech partner with the agility to assist them in growing and that fit their style, culture, and values. Critical in its core selection was finding the right innovative digital banking products and the relationship. DCI had great client references and never misrepresented themselves, and the DCI culture spoke as community bankers. Their private, banker-owned mission fit progressive banking model to a 'tee.'
DCI feels it has lots of opportunity in Iowa from an evolving change in sentiment among bankers about what has been the status in bank tech for years. The company is also delighted to welcome Mount Vernon Bank & Trust to the DCI family. It is confident that any Iowa bank looking to upgrade its tech experience will like what they find at DCI, just like the folks at Mount Vernon did. Large or small, the DCI welcome mat is out for all comers.