CBANC Acquires Lendwell

CBANC, a professional networking platform for banks, acquired fellow Austin-based fintech Lendwell in a deal this week. Terms of the transaction were not disclosed.

“Our acquisition of Lendwell is the next step in our strategy of unlocking the power of cooperation and the collective purchasing power of thousands of financial institutions within the CBANC Network,” said Bryan Koontz, CBANC CEO. “The Lendwell platform will help our network members reduce the cost of lending operations while improving their ability to serve their customers.”

This is CBANC’s first acquisition, but as the company seeks to add value to its platform and give members more reasons to log on, today’s purchase may not be its last.

Lendwell, a mortgage settlement services company, helps credit unions and community banks with the mortgage settlement process, primarily with refinances, second mortgages, home equity loans, and home equity lines of credit. The company offers a range of products including property condition reports, appraisals, title insurance, closing services, and more to serve as a one-stop shop for loan settlement products.

Lendwell’s SaaS loan aggregation offering gives banks access to quality mortgage settlement services at cost savings that add up to 20%. As a result of the acquisition, CBANC’s 8,000 financial institution members will have access to the Lendwell platform at no cost.

Lendwell founders Gabe Flores and Mike DeBonis have joined CBANC as the GM of Lendwell and as SVP of Engineering, respectively.

Founded in 2009, CBANC serves as an online platform where financial institutions can connect to share ideas, get their questions answered, build their brand and reputation, and publish reviews and insights on new products and services.

CBANC’s Founder and former President Myers Dupuy demonstrated the network at FinovateFall 2011 in New York. Earlier this month, the company hired on Mike Snavely as its Chief Commercial Officer. CBANC has raised more than $7 million from Adams Street Partners.

Finovate Alumni News


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Around the web

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This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

Finovate Alumni News


  • The ID Co. Unveils its Income Verification Solution.
  • Finicity Partners with Pulte Mortgage to Accelerate Asset Verification.

Around the web

  • CBANC hires Mike Snavely as Chief Commercial Officer.
  • Congrats to 3rd Eyes, ArthaYantra, aixigo, BaseVenture, Capitalise, Entersekt, eToro, Finantix, Fincite, Finhorizon, ForwardLane, Hydrogen, Scalable Capital, Sentifi, Tradeit, Trizic, WealthWizards, WealthForge, and Xignite on being recognized in the Wealthtech 100.
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    • Nordigen opens new office in Spain to expand operations.
    • Yseop’s AI solution for Société Générale wins award for most innovative initiative of the year at this year’s Digital Finance Awards. Come see Yseop at FinovateSpring next month.
    • Contovista and NDGIT expand partnership, enabling Contovista to be implemented via the German NDGIT API marketplace.

    This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

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    • BankNxt’s BIGcast interviews CEO Steve Hoffman of SayPay Technologies.
    • OutsideIQ joins fintech accelerator, Bank Innovation INV, as an API partner. See OutsideIQ at FinovateSpring in San Jose next month.
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    • Algomi partners with IPC Systems to support buy-side users of its Honeycomb network.
    • Bank Innovation takes a look at CBANC and its effort to make social media work for banks.
    • “AuthenticID Wins All Payments Expo Shark Tank with CatfishAIR Identity Verification Solution”
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    • “CardFlight and Miura Systems Partner to Offer EMV and NFC Mobile POS Solution to the U.S Market”
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    • CIOReview names Praesidio in list of top 20 Most Promising Banking Technology Solution Providers for 2016.

    This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

    CBANC Launches New Features to Further Engage Network of Professionals


    CBANC, a network for community bank and credit union professionals, added a group of new features to its platform this week. New elements include:

    • Leaderboard
      Recognizes members, based on others’ ratings, for their contributions.
    • Wire
      Works like a social media feed by allowing users to post information and photos, and to interact with other users by following their feeds.


    • Daily news
      Emails members relevant articles and industry news.


    The platform, which launched in 2009, enables users to collaborate with other industry professionals and share information on policies and procedures, vendor management and vendor product ratings. The Austin-based company’s CEO Bryan Koontz explains the platform:

    We’ve taken the public, general-purpose model of LinkedIn and created a state-of-the-art, private and secure place for our members to connect with each other, share information, stay up-to-date on industry news and build their careers and professional reputations.

    CBANC incents banks to share best practices and intellectual property and its member engagement has increased almost 4x year-over-year; additionally, the company has experienced a 30x year-over-year increase in document contributions since January 2015.

    Later this year, the company plans to revamp its UX, add vendor solutions and member polling, enhance the Wire feature, and launch topics pages.

    CBANC’s former President Myers Dupuy demonstrated the network at FinovateFall 2011 in New York.

    Finovate Alumni News


    • “CBANC Launches New Features to Further Engage Network of Professionals”


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    • Feedzai opens new offices in the U.K.; hires new head of international operations.
    • Payoneer buys Armor Payments.
    • Micronotes leverages AI and machine learning with new suite of cross-sell solutions for banks.
    • TransferWise teams up with Pay Gate to bring its money-transfer service to South Korea.
    • Insuritas to deploy turnkey insurance agency at Sun Community FCU ($358 million in assets).
    • Genworth Mortgage Insurance to use technology from Roostify to streamline home-buying process.
    • Former Check CEO Guy Goldstein’s Next Insurance announces $13 million seed-round led by Zeev Ventures, TLV Partners, and Ribbit Capital.
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    • In the U.K., PayPal Here SDK reveals first eight business partners.
    • CustomerXPs featured on Nasscom’s Indian Analytics Products Landscape.

    This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

    CBANC Network Garners $4 Million in Series B Funding


    CBANC, a collaborative network for bank and credit union professionals, raised $4 million earlier this week. The Series B round was led by CBANC founder Hank Seale. Other investors include Texas Independent Bancshares, Mike Maples, and Adams Street Partners. When added to its previous round of $1.7 million, this brings the company’s total funding to $5.7 million.

    CBANC launched its network as a platform where financial industry professionals can ask, answer, and share industry-related intelligence, specifically regarding regulation and new technology. It counts 7,000 financial institutions as members, which represent 85% of community banks and 33% of credit unions across the United States.

    The company plans to use the funds to increase membership, add features and expand its base of 22 employees.  “We’re very well engaged on the compliance side of things,” CBANC CEO Bryan Koontz tells the Austin-American Statesman, “Now we want to bring the vendor community into the network, and we plan to invest in new features and new ways for the vendors to interact.”

    CBANC demoed its professional network at FinovateFall 2011 in New York.


    Finovate Alumni News


    • “FinovateSpring 2016: Last Chance for presale tickets!”
    • “Exit Stage Right: Trustev sells to TransUnion for $44 Million”
    • “CBANC Network Garners $4 Million in Series B Funding”

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    • SayPay Technologies and MaxMyInterest win Acceleration Awards in the UBS Future of Finance Challenge.
    • Crains New York Business highlights MaxMyInterest as a New York fintech startup.

    This post will be updated throughout the day as news and developments emerge. You can also follow alumni news headlines on the Finovate Twitter account.

    Continuity Control and cbanc Network Partner


    This week, compliance management platform Continuity Control and cbanc Network, a knowledge-collaboration community, announced a partnership.

    This partnership will make Continuity Control’s RegAdvisor, a quarterly briefing, available through cbanc’s WebEd program.

    RegAdvisor is a complimentary event to help financial institutions gain a practical view of new compliance regulations, and helps them understand what steps are necessary to ensure compliance. To register for the next RegAdvisor, click here.


    The terms of this deal have not been disclosed.

    cbanc Network demoed at FinovateFall 2011, Continuity Control demoed at FinovateSpring 2010.

    Finovate Alumni News– March 11, 2013

    • American Banker reports: Union Bank signs up for Fiserv’s Bill Pay.
    • Bolstr featured on MSNBC’s Your Business.
    • Backbase gives a glimpse of the Digital Marketing Module it showed at FinovateEurope.
    • Triple Pundit looks at how the SEC is holding SoMoLend and other debt/equity crowdfunding platforms hostage.
    • USA Today considers Lending Club’s success.
    • CIO lists Expensify as 1 of 3 apps to help at tax time.
    • BellaDati releases updates to its platform.
    • Credit Karma launches app for Android.
    • Med Gadget interviews Diversinet CEO, Dr. Hon Pak.
    • Finextra reports Geezeo signs 1st United Services Credit Union.
    • CashStar announces availability of tablet gifting.
    • Android, iOS updates now provide card-to-card payments with Pageonce.
    • Dough Roller blog names PocketSmith one of the best calendar-based personal finance apps.
    • Continuity Control to partner with cbanc Network to provide regulatory briefing via RegAdvisor.
    • Koolspan and DeviceFidelity team up to build TrustSleeve, bringing microSD-based voice encryption to the iPhone.
    • Locaid and Life360 join forces to help parents stay in touch with their kids.
    • The Financial Brand highlights 50 of the most spectacular website designs in banking: Simple (formerly BankSimple), Standard Chartered, Mint, & Moven. See Netbanker’s take on the list here.
    This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

    Finovate Alumni News– May 14, 2012

    • Thumbnail image for Thumbnail image for Thumbnail image for Finovate-F-Logo.jpgCU Insight reports cbanc Network Reaches 10,000 Users Milestone.
    • Wins Barlow Research Client Conference Innovation Showcase Award.
    • Clairmail Wins San Francisco Business Times Tech and Innovation Award.
    • AcceptEmail and TrustWeaver announce partnership.
    • PYMNTS News reports Acculynk announces Alaska option issuers enabled with PaySecure internet PIN debit.
    • Aptys Solutions Offers Financial Institutions Affordable Archiving Alternative.
    This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

    cbanc Network Launches Premium Subscription Services


    cbanc Network, a free, online network for banking and credit union professionals to collaborate and share knowledge, launched two options for premium services this week. The premium services will grant paying members access to special features that go beyond what the free service provides.

    There are two levels of service: 

    1. cbanc Plus — $250/ year
      • Can access the Peer Trends feature to see what similar institutions are paying attention to
      • Receive 5 free content downloads
      • Receive a 1.5x Points Booster that allows them to earn 50% more points every time they complete a vendor review, survey, content review, or exam watch

    2. cbanc Pro — $750/ year

      • Same benefits as cbanc Plus
      • One free registration to the webinar of their choice 
      • Five additional Free Content Downloads
      • Access to the Vendor Management and Due Diligence software solutions

    To learn more about cbanc Network, watch its FinovateFall 2011 demo.