SIOUX FALLS, S.D., June 28, 2020 /PRNewswire-PRWeb/ -- Falls Fintech, the fintech accelerator founded by Central Payments in 2019, is accepting applications for Cohort 2 through Friday, July 3, 2020. The program will operate virtually from August 10 to October 30, 2020. Interested early-stage fintechs can apply at http://www.fallsfintech.com.
Eligibility: The popular accelerator is seeking fintech companies that are at or near minimum viable product require the involvement of a bank for payment network membership, FDIC insurance, card issuance and/or funds movement, and will utilize Central Payments OpenCPSM API platform. New: Beginning with Cohort 2, Falls Fintech has designated one of the five slots to a company that is focused on improving the financial lives of minority consumers and/or has deeply embedded financial literacy into their solution. Nikkee Rhody, Co-founder and Managing Director of Falls Fintech, described the news: "As a Community Development Financial Institution, we have a proud history of improving financial experiences of those who have historically not enjoyed access to quality financial products. In these challenging times, we felt it important to commit one available slot to advancing this important effort."
About the Program: Falls Fintech is a custom, 12-week program designed to accelerate market readiness for early-stage financial technology startups. Cohort 2 will be conducted virtually from August 10 through October 30. The high-intensity curriculum is delivered by a distinguished group of payments, technology, and banking professionals. In addition to a financial investment of $15,000, at the conclusion of Falls Fintech, successful companies will have completed all the necessary steps to come to market with a bank partnership and access to the payments ecosystem through Central Payments and its OpenCP platform. Central Payments President and Co-founder of Falls Fintech Trent Sorbe adds: "Securing a bank relationship and connectivity to the various other stakeholders necessary to offer a payments product is time consuming and expensive for a startup – both of which put pressure on cash flow during this last mile to launch. Falls Fintech is structured to accelerate the last mile. Feedback from Cohort 1 reinforced our belief that concluding Falls Fintech with a bank deal in hand, technical integration complete, and Central Payments signed on as a strategic partner and investor was as valuable as the financial commitment."
Contact: Nikkee Rhody/SVP and Managing Director/[email protected]
About CBKC: Central Bank of Kansas City (CBKC), located in the heart of Kansas City, MO, has been family-owned since opening in 1951. We are one of a small number of financial institutions in the country certified by the U.S. Treasury as a Community Development Financial Institution (CDFI) and have enjoyed this designation since 1998. As a CDFI, CBKC is focused on serving people of modest means who historically have not enjoyed the benefits of affordable and accessible financial products.
About Central Payments: This statement—"to treat each customer's balance as though it's all they have"—guides our approach to client relationships. Fairness, transparency, and compliance serve as the cornerstones of our existence. Our commitment to client success and our insistence on redefining the role of bank issuer are what sets Central Payments apart from the rest of the market. http://www.central-payments.com
About Falls Fintech: Falls Fintech is a custom, 12-week program designed to accelerate market readiness for early-stage financial technology startups. Delivering a high-intensity curriculum with an elite network of financial, payment and technology professionals across the globe, Falls Fintech promotes breakthrough of the last-mile problems facing fintech today. http://www.fallsfintech.com
SOURCE Central Payments
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