Today, Tower Community Bank, a stalwart in the Tennessee banking sector for over 50 years, has reimagined its service offerings in the local market through a partnership with FintechOS. By embracing digital innovation, Tower has launched Momentum by Tower, a unique point-of-sale lending platform that empowers local businesses to provide bespoke financing options directly to their customers.

Faced with the challenge of integrating new technology with existing legacy systems, as well as recognizing the need to adapt to the evolving demands of modern banking customers and the increasing shift towards digital solutions, Tower found an agile partner in FintechOS, adopting FintechOS’s fintech enablement platform.

This strategic move has enabled Tower to retain its traditional values while enhancing customer service by offering a seamless digital lending experience. Moreover, the collaboration has produced a resilient solution that can be adapted to market changes while integrating with Tower's core infrastructure.

Momentum by Tower is a testament to the synergy between Tower's community-driven mission and FintechOS's cutting-edge technology. The embedded lending solution, designed for Tennessee’s medical community, allows patients to finance their medical and dental procedures at the point of service. It represents a significant step forward in customer empowerment, providing additional benefits for creating checking accounts and making deposits.

All aspects of the lending solution were defined using FintechOS Studio, a part of the FintechOS platform that allows non-technical teams to create and launch personalized products and customer journeys using a no-/low-code approach, driven by data and powered by automation. A flexible decision engine empowers the Tower team to define different types of loan products. Using prebuilt ecosystem connectors, customer credit checks are run in real-time, and all documents can be signed digitally to streamline the process.

The partnership with FintechOS has resulted in substantial growth in loans, deposits, customer base, and revenue streams for Tower. With the enhanced ability to expand beyond traditional geographic boundaries, Tower is now poised to explore untapped markets.

"The biggest benefit of working with FintechOS is the platform's unmatched flexibility. It's not just about acquiring a product; it's about investing in a dynamic ecosystem that nurtures your creative visions and translates them into tangible customer-centric solutions,” said Brett Hollenbeck, Director of Virtual Banking, Tower Community Bank. “The agility FintechOS provides is invaluable for continuous innovation. For anyone looking to elevate their digital services, FintechOS is the partner you’re looking for, and they were unquestionably the right choice for us.”

Tower and FintechOS are exploring avenues to extend this innovative lending solution to other sectors.

“We are delighted in our partnership with Tower Community Bank, an icon in the banking sector of Tennessee,” said Teo Blidarus, CEO and Co-Founder, FintechOS. “Our partnership with Tower has empowered them to innovate at pace, giving them the ability to define and update products easily and quickly so that they can respond to changing market conditions, customer preferences, and regulations – regardless of their legacy core technologies. We look forward to the future of working with Tower.”