Boston, MA – February 14, 2025: MassChallenge, the global network for innovators solving massive challenges, is proud to partner with the Massachusetts Bankers Association (MBA), a multi-faceted banking trade group representing over 120 banks. This partnership will support founders who are addressing real-world challenges in the community bank market, opening doors to cultivating mentor relationships with key decision-makers in the banking industry.
At the heart of this alliance lies a shared goal: equipping startups, community banks, and regional banks with the tools they need to thrive in a rapidly evolving financial ecosystem. For founders, this means unparalleled access to mentorship and thought leadership from industry insiders. For member banks, it’s an opportunity to hone their competitive advantage by further integrating cutting-edge technologies and fresh perspectives — collaborating directly with FinTech innovators right here in the Commonwealth.
MassChallenge believes that transformative innovation happens when startups and industry leaders work together to solve massive challenges. Our partnership with the Massachusetts Bankers Association is a prime example of this synergy in action. By fostering connections between FinTech founders and community bank executives, we’re not only driving innovation in financial services but also strengthening the broader economic landscape,” shares Will Magruder, Vice President of Partnerships at MassChallenge. “This collaboration creates long-term, impactful solutions that help banks remain competitive while ensuring founders have the resources needed to scale. We’re excited to see the tangible impact this partnership will have across the Commonwealth and beyond.
If you’re a founder solving challenges in the following areas (and beyond), MassChallenge offers FinTech Programs for early and later-stage startups.
- Enhancing customer experiences through better data management.
- Leveraging AI to enable faster, more effective decision-making.
- Creating tools that make financial education and planning accessible to everyone.
“The innovation ecosystem in Massachusetts is one of the best in the nation, and we are thrilled to play our part in connecting community banks with startup FinTech partners and small businesses, alike. We hope the relationships created through our partnership will help our member banks participate in the various challenges and experiential learning opportunities fostered by the Association’s financial support. We are also excited to support our members in mentoring FinTech founders and also in expanding banker awareness of the FinTech community in the Commonwealth. These relationships will assist in meeting consumer and business demands throughout the Commonwealth,” said Kathleen Murphy, President and CEO of the Mass Bankers Association.
By connecting founders with bank executives, this partnership facilitates the creation of solutions that benefit not only individual institutions but also the broader financial ecosystem and the communities they serve.
If you’re a late-stage FinTech founder, submit your interest in the 2025 MassChallenge FinTech Challenge Program – applications open in the Fall.
With two Boston-based powerhouses joining forces, this alliance highlights a growing trend: established industry networks partnering with innovation hubs like MassChallenge to stay ahead in their markets. It’s a testament to the evolving FinTech landscape, where collaboration between founders and corporations is becoming the key to maintaining market relevance and driving competitive growth on an individual and organizational scale.
About Massachusetts Bankers Association
The Massachusetts Bankers Association is a multifaceted trade group proudly representing over 120 FDIC-insured banks throughout Massachusetts and beyond. We support community, regional and large financial institutions that serve communities across the Commonwealth. Our mission is to be the premier partner and trusted resource for our members through a proactive focus on exceptional solutions, advocacy and thought leadership for the banking industry. Learn more about Mass Bankers at massbankers.org
About MassChallenge
MassChallenge is the global network for innovators. Headquartered in the United States with eight locations worldwide, it is the non-profit’s mission to help bold entrepreneurs disrupt the status quo and create sustainable change. Since launching in 2009, MassChallenge has run programs in 24 countries, supported more than 4,400 startups from around the world, and awarded over $18M in equity-free cash and prizes. Learn more about MassChallenge at masschallenge.org.