CONYERS, Ga., Oct. 19, 2022 /PRNewswire/ -- Novae CEO Reco McCambry was named Innovator of the Year at the 2022 Bank Customer Experience Summit in Chicago last month. This win comes just weeks after Novae was named one of Inc 5000's fastest-growing companies in America for the second year in a row.
The Bank Customer Experience Summit, held annually in Chicago, features keynote speakers such as this year's Clinton Cheng, Global Head of Visa's PLUS/ATM Network which serves 3 billion cardholders around the world and 2019's Marbue Brown, Head of Customer Experience at Chase. It's the place to be for people in the banking industry aiming to offer their customers a stellar experience.
Innovations in the industry have been moving at a breakneck pace in recent years between the rapid advance of digital technology and the profound influence of the COVID-19 pandemic. Changes in how businesses accept payment, and how customers interface with banks, have been profound.
This makes McCambry's win especially impressive. His relatively young American-based firm, founded in 2014 independent of other banking and financial institutions, was in the company of the 200-year-old financial institution KeyBank and global giant CR2 as a Summit award winner.
Novae has spent the last few years rolling out new fintech offerings with astonishing speed. What began primarily as a financial education firm now offers assistance in procuring business and personal loans, consumer financing options for businesses that sell high ticket products and services, and online banking which likely played the decisive role in McCambry's award.
Novae's online banking is designed specifically with unbanked and underbanked Americans in mind—those who may live in neighborhoods without many in-person bank branches and who may struggle with transportation, getting off work during business hours, and other major obstacles preventing people in low-income neighborhoods from accessing banking services.
McCambry's solution is to offer a 100% online service allowing customers to sign up for FDIC-insured bank accounts from their computers or smartphones. But the real streak of brilliance is Novae's deal with retailers such as Dollar General to allow customers to deposit cash into their online bank accounts at Dollar General locations. These neighborhoods now effectively have Novae bank branches at the same places where their residents often shop.
Having grown up himself in a low-income neighborhood where residents struggled to access the financial services available to their wealthier neighbors, McCambry got emotional when speaking about his award.
"Wow. It's been a lot of hard work to roll out these products, but it's been so worth it. We are going to transform communities around the country and the world with greater access to financial services. God is good."
SOURCE Novae LLC