Alloy Labs Members Work Together to Drive Innovation, Build Partnerships, and Make Strategic Investments
HUMBLE, Texas, July 6, 2022 /PRNewswire/ -- Third Coast Bancshares, Inc. (the "Company" or "Third Coast"), the bank holding company for Third Coast Bank, SSB, today announced that it has joined Alloy Labs, a consortium of community and mid-sized banks focused on adopting technology more effectively and efficiently by speeding up the pace of innovation of new FinTech products.
Participation in the consortium will allow Third Coast access to state-of-the-art FinTech products and services at the forefront of the banking industry, creating opportunities to share best practices through collaboration. Third Coast will also have access to the Concept Lab, a reverse accelerator program that builds partnerships between banks and startups that provide services outside of traditional banking. Ultimately, Third Coast's technology platform will bring a comprehensive suite of innovative and cost-effective cloud based FinTech products to market in response to the growing demand from its customers.
Members of Alloy Labs identify opportunities for differentiation and co-create solutions that give banks a competitive edge to drive innovation, build partnerships, and make strategic investments, allowing members to accelerate their transformation by tackling the challenges of modernizing bank architecture. The consortium helps banks provide products and services that their customers' need and want, allowing a more level playing field with large, national banks. Alloy Labs Alliance was launched in 2018 by twelve founding banks from across the country, and has grown to over 50 institutional members.
About Third Coast Bank SSB
Third Coast Bancshares, Inc. (Nasdaq: TCBX) is a commercially focused, Texas-based bank holding company operating primarily in the Greater Houston, Dallas-Fort Worth, and Austin-San Antonio markets through its wholly owned subsidiary, Third Coast Bank, SSB. Founded in 2008 in Humble, Texas, Third Coast Bank, SSB conducts banking operations through 14 branches and one loan production office encompassing the four largest metropolitan areas in Texas. As of December 31, 2021, the bank reached $2.5 billion in assets. For more information, please visit www.tcbssb.com.
About Alloy Labs
Alloy Labs is the only consortium that drives exponential growth for banks by leveraging network effects. Our members work together to identify opportunities for differentiation and co-create solutions that give them a competitive edge. In addition, they have exclusive access to The Concept Lab, a reverse accelerator that builds unique partnerships with startups, and the Alloy Alchemist Fund, which invests in the technology companies shaping the future of financial services. For more information visit alloylabs.com.
Vice President, Marketing Manager
Third Coast Bank SSB
Alloy Labs Alliance
SOURCE Third Coast Bancshares