ABA Banking Journal
No Result
View All Result
  • Topics
    • Ag Banking
    • Commercial Lending
    • Community Banking
    • Compliance and Risk
    • Cybersecurity
    • Economy
    • Human Resources
    • Insurance
    • Legal
    • Mortgage
    • Mutual Funds
    • Payments
    • Policy
    • Retail and Marketing
    • Tax and Accounting
    • Technology
    • Wealth Management
  • Newsbytes
  • Podcasts
  • Magazine
    • Subscribe
    • Advertise
    • Magazine Archive
    • Newsletter Archive
    • Podcast Archive
    • Sponsored Content Archive
SUBSCRIBE
ABA Banking Journal
  • Topics
    • Ag Banking
    • Commercial Lending
    • Community Banking
    • Compliance and Risk
    • Cybersecurity
    • Economy
    • Human Resources
    • Insurance
    • Legal
    • Mortgage
    • Mutual Funds
    • Payments
    • Policy
    • Retail and Marketing
    • Tax and Accounting
    • Technology
    • Wealth Management
  • Newsbytes
  • Podcasts
  • Magazine
    • Subscribe
    • Advertise
    • Magazine Archive
    • Newsletter Archive
    • Podcast Archive
    • Sponsored Content Archive
No Result
View All Result
No Result
View All Result
ADVERTISEMENT
Home Community Banking

In New Model for Fintech Partnership, ABA Invests in Cloud Computing Firm

September 24, 2018
Reading Time: 1 min read

The American Bankers Association today announced that it has made a direct investment in a fintech firm that helps financial institutions transition to the cloud. Summit Technology Group offers an attractive and cost-effective IT solution for banks, according to a thorough vetting process conducted by ABA staff experts and board members.

While the vetting process was similar to the due diligence process that ABA Endorsed Solutions providers go through, the relationship is different, ABA said. In addition to ABA’s ownership stake in Summit Technology Group, the association holds a seat on the firm’s board.

“Given the rapid and constant pace of innovation in the fintech space, it’s important that we be nimble and responsive to new opportunities,” said ABA President and CEO Rob Nichols. “This strategic transaction reflects our forward-thinking approach to banking and technology, and offers not just an opportunity for a return on our investment, but a brighter future for our members.”

ABA’s board has directed the association to consider additional opportunities to invest in fintech companies that have a strong business model in a growth sector, that help banks in efficient and innovative ways and that benefit ABA members.

  • Read more about cloud migrations in the ABA Banking Journal.

ADVERTISEMENT
Tags: ABA newsCloud computingFintech
ShareTweetPin

Related Posts

Future-forward compliance

Harnessing AI for smarter, stronger compliance

Technology
May 21, 2025

Banks that successfully integrate AI into their compliance operations tend to follow the mantra: Automate the process, not the principle.

ABA urges ‘same risk, same regulation’ for digital assets

Proposed amendment would add Credit Card Competition Act to Senate stablecoin bill

Newsbytes
May 20, 2025

Sen. Roger Marshall (R-Kan.) has filed an amendment to add credit card network routing mandates to an unrelated bill establishing a regulatory framework for payment stablecoins.

FDIC withdraws proposed rules on brokered deposits, corporate governance, executive pay

FDIC rescinds 2024 bank merger policy

Newsbytes
May 20, 2025

The FDIC board unanimously voted to rescind a 2024 statement on bank mergers that expanded the factors taken under consideration when the agency reviews merger applications.

FDIC says banks need to correctly report uninsured deposits

FDIC provides update on Deposit Insurance Fund restoration

Compliance and Risk
May 20, 2025

DIF reserve ratio remains on track to reach the statutory minimum of 1.35% by year's end. Also, FDIC will explore changing how it calculates the DIF's exposure to losses.

ABA, associations urge lawmakers to finalize deal on debt ceiling

Resolution to overturn OCC bank merger rule clears House

Community Banking
May 20, 2025

The House voted in favor of a Senate resolution to overturn a 2024 final rule that changed how the OCC reviews proposed bank mergers. The legislation heads to President Trump for his signature.

ABA urges House lawmakers to support several banking-related bills

ABA urges House lawmakers to support several banking-related bills

Newsbytes
May 20, 2025

ABA expressed support for several bills under consideration by the House Financial Services Committee, including legislation on regulatory tailoring, reputational risk and bank merger applications.

NEWSBYTES

Proposed amendment would add Credit Card Competition Act to Senate stablecoin bill

May 20, 2025

FDIC rescinds 2024 bank merger policy

May 20, 2025

FDIC provides update on Deposit Insurance Fund restoration

May 20, 2025

SPONSORED CONTENT

Choosing the Right Account Opening Platform: 10 Key Considerations for Long-Term Success

Choosing the Right Account Opening Platform: 10 Key Considerations for Long-Term Success

April 25, 2025
Outsourcing: Getting to Go/No-Go

Outsourcing: Getting to Go/No-Go

April 5, 2025
Six Payments Trends Driving the Future of Transactions

Six Payments Trends Driving the Future of Transactions

March 15, 2025
AI for Banks: A Starter Guide for Community and Regional Institutions

AI for Banks: A Starter Guide for Community and Regional Institutions

March 1, 2025

PODCASTS

Podcast: Accelerating banking for quick-service restaurants

May 8, 2025

How a Georgia community bank supports government-guaranteed lending nationwide

May 1, 2025

Podcast: Quantum computing’s shakeup in payments, cybersecurity

April 24, 2025
ADVERTISEMENT

American Bankers Association
1333 New Hampshire Ave NW
Washington, DC 20036
1-800-BANKERS (800-226-5377)
www.aba.com
About ABA
Privacy Policy
Contact ABA

ABA Banking Journal
About ABA Banking Journal
Media Kit
Advertising
Subscribe

© 2025 American Bankers Association. All rights reserved.

No Result
View All Result
  • Topics
    • Ag Banking
    • Commercial Lending
    • Community Banking
    • Compliance and Risk
    • Cybersecurity
    • Economy
    • Human Resources
    • Insurance
    • Legal
    • Mortgage
    • Mutual Funds
    • Payments
    • Policy
    • Retail and Marketing
    • Tax and Accounting
    • Technology
    • Wealth Management
  • Newsbytes
  • Podcasts
  • Magazine
    • Subscribe
    • Advertise
    • Magazine Archive
    • Newsletter Archive
    • Podcast Archive
    • Sponsored Content Archive

© 2025 American Bankers Association. All rights reserved.