Fueling innovation through a venture strategy
Banks of all sizes access the innovation ecosystem through in-house development, fintech partnerships, acquisitions and venture investment. Huntington Bank does all four. On the latest episode of the ABA Banking Journal Podcast — sponsored by SmartStream — Huntington Bank CFO Zach Wasserman talks about the $100 million Huntington Corporate Ventures initiative to expose the bank to cutting-edge tech and fuel its digital transformation.
In this episode, Wasserman discusses:
- How Huntington decides when to acquire, partner, invest or some combination of the three.
- Business lines where HCV is looking to invest: payments, business banking, wealth and consumer mortgage.
- Details about Huntington’s partnerships with companies like Blend Labs and InvestCloud.
- How banks can provide value to fintech startups as investors and partners.
- What banks can learn about the role of due diligence and risk management in venture investing.
- What’s ahead for Huntington Corporate Ventures, which was launched in 2020 and is now expanding.