INB Recognized for Role in Working with Tech Startups


INB was recently recognized by Silicon Valley’s Plug and Play as an innovator in the FinTech space. INB earned the Corporate Innovation Award for being one of the first community banks in the world to take a lead role in working with technology startups to provide customers what they need, when they need it. In addition, INB has invited bank customers to learn about and take advantage of Plug and Play’s network of entrepreneurs. 

“Our work is always about engaging the customer,” explains Tom Gihl, INB’s COO. “And with Plug and Play, we’ve continued down that path.”

The relationship with Plug and Play has brought several new tools that have a direct impact on customers. Gihl explains: “We can now identify when a customer will best benefit from a product or service, and we’re able to get information about the product or service to the individual. We also now have a tool to help someone more easily move a checking account to INB from another bank.

President and CEO Sarah Phalen adds, “INB is very much a learning organization, and the conversations we’ve had with startups have really allowed INB to be engaged in innovation and the newest technology that without P&P we wouldn’t have access to. The conversations bring an understanding of tech from around the world. 

“We’re thankful for the recognition from Plug and Play, but even more thankful to the personal and business customers whose financial health is first and foremost for us.

About INB

INB, National Association, is a locally owned bank based in Springfield, Ill. operating 13 branches and a remittance processing center in Central Illinois, as well as a loan production office in Chesterfield, MO.  INB provides a full range of banking services to individuals, businesses, and municipalities, including commercial and retail banking, mortgage loans, trust and brokerage, and cash management. For more information, visit

About Plug and Play

Plug and Play is a global, innovation platform. Headquartered in Silicon Valley, the staff has built accelerator programs, corporate innovation services, and an in-house VC to make technological advancement progress faster than ever before. Since inception in 2006, programs have expanded worldwide to include a presence in over 20 locations globally, giving startups the necessary resources to succeed in Silicon Valley and beyond. With over 6,000 startups and 220 official corporate partners, Plug and Play has created the ultimate startup ecosystem in many industries. The company provides active investments with 200 leading Silicon Valley VCs, and hosts more than 700 networking events per year. Companies in their community have raised over $7 billion in funding, with successful portfolio exits including Danger, Dropbox, Lending Club, PayPal, SoundHound, and Zoosk. For more information, visit