How they describe themselves: CBW Bank is a community bank that despite its size and rural location is driving innovation in payments. CBW Bank’s objectives include maintaining a retail presence in Weir to meet the banking needs of the community with deposit and loan products. The bank is focused on growing its fee-based wholesale payment services business line and launching next generation banking products to better serve its existing, and future customers.
How they describe their product/innovation: CBW Bank launched a new payment tool, ONE Card, to provide its customers access to a safe and convenient alternative to traditional bank accounts. Developed by Yantra Financial Technologies, the solution gives banks, program managers, and corporate clients access to a powerful and flexible platform, designed to support a wide range of product categories including, direct deposit, money transfers, and payroll.
ONE Card account holders have access to all of the features and functionality of a traditional bank account. However, one key differentiator is that ONE Card does not require a credit check for approval, and users are able to send money to anyone in the United States, and soon internationally.