Kevin Jones April 21, 2020 You often hear us in the payments and financial technology industries as we implore you to shop local, supporting your community’s small businesses that include restaurants, bars and breweries, salons, and boutique shops. Too often, this imperative is misunderstood as a feel-good marketing campaign.

But make no mistake, the shop local movement is about something very real. It’s how we build more vibrant, sustainable communities that meet our needs, economically, culturally, and by virtually any measure of quality of life, whether you’re in places the size of Los Angeles, Nashville, Greenville, South Carolina, or my tiny hometown of West Jefferson, North Carolina.

The numbers don’t lie. There are nearly 30 million small businesses in America, and they employ nearly two-thirds of the workforce. If you’re looking purely to make an economic impact directly in the lives of your friends, neighbors, and fellow church-goers, you really couldn’t have a better strategy than eating at that family-owned restaurant, having your car repaired with your hometown mechanic or dealership, or getting that spa treatment at the beauty shop around the corner. Your locally-spent dollars keep people employed and keep the economy progressing in normal times, and they are helping these folks survive in the unprecedented times since the outbreak of COVID-19.

As if that weren’t enough, shopping local, eating local, and drinking local goes way beyond helping your individual neighbors and friends. Out of every dollar you spend locally, 67 cents stay in your community. Furthermore, that same dollar is taxed at a local level up to four times, on average.  Think about everything your tax dollars pay for in your community:  schools; roads, parks and greenways; the arts; parades and community events; loans and grants for startups; programs to feed the hungry and shelter the homeless, and much, much more.

It’s been noted in study after study that promoting small businesses strengthens the middle class, reduces income inequality, creates local supply chains, achieves higher wages and benefits, bolsters civic and social well-being, and makes business simply fairer in pricing and terms. When I was forming my plan for Celero nearly two years ago, I decided to double down on my belief in the resilience and sustainability of American small business. I knew we’d face hard times again, but like many, I didn’t think it would happen so soon. 

But my belief is rooted in the knowledge that we are, in fact, all in this together—in good times and bad. For all of us who want our communities to survive now and thrive when good times are here again (and I’ll bet that survey would yield somewhere near 100 percent of us), we need to act like we do at church. Let’s have our behaviors exemplify our beliefs. Even in times of social distancing, we can support our beloved small, local businesses. Utilize curbside, takeout, and delivery services whenever you can, and buy virtual gift cards to invest in these businesses when you can’t.

Let’s get through this by focusing on the health of our families and friends and by extending a hand to those small businesses that mean so much to our way of life. Let’s work together to save our neighbors and save our communities.

Kevin Jones January 27, 2020 I recently had an opportunity, a long time in the making, to go back to my hometown in Ashe County, North Carolina and address the latest graduating class of a wonderful regional leadership development program, Leadership Ashe.

While I certainly took a few moments to reminisce about the past, I found it appropriate to think along with these impressive, selfless folks about how we shape the future by how we approach the present. While not an original concept—it’s often attributed to Amazon founder Jeff Bezos and seen in faith devotionals—I love the idea that “today is day one.”

What a great idea that is for approaching the new year that’s upon us, the notion that today is day one. It’s about so many things, depending on your context. In a faith journey, for example, today is day one often means shedding the burdens of yesterday, those areas where you fell short of your best, the ways in which you hurt others, or the guilt you carry from these times of your life. Being our best selves means not being self-defeating.

I consistently think of the today is day one concept and try to apply it to my work here at Celero. And when I do so, it’s almost the opposite of that faith journey, where you’re setting yourself free of yesterday’s troubles. Don’t get me wrong—I’m all for leaving failure behind, after taking your necessary lessons from that to make yourself stronger. Rather, it’s more about the concept of the value we bring, to our company, to each other, to our customers.

As we sit here in January of 2020, the beginning of year two at Celero, after a very successful first year, it’s still day one. The journey still lies ahead of us. The mistakes, beliefs, and achievements of the past certainly help dictate our starting point, but it’s all in front of us yet again. And most importantly, to stay fresh as leaders, we have to come in and look at things with the perspective that it is our first day on the job. That’s how new leaders and consultants are initially impactful. They don’t have the legacy skeletons, pride of authorship, relationships, and barriers built slowly over time. They come in with fresh eyes, identify the issues, and solve them.  I challenge myself and my generals to do the same every year:  “What would you do if you knew nothing and no one and this was your first day?”

I love how this concept applies to everyone, whether you’re a young high school student, somebody’s grandmama, or a 48-year-old fintech executive like me. Thinking about one of my favorite Avett Brothers lyrics—”Decide what to be, and go be it”—my own concept of day one means that we start all over again. We start all over in proving our value to others, fulfilling our individual purpose, providing for others in our lives, and impacting our communities.  I must do all of these things in my role as CEO at Celero, and day one means being accountable to everyone in my life and my pre-ordained purpose in this world, to use my gifts and the qualities others develop within me to shape a better future.

Yesterday’s gone, today is right in front of us, and tomorrow is coming like a rocket. What will you do today, on your day one, to shape a better future?

Abigail Lucier December 20, 2019 In the digital era, society has created what I think of as a cult of leadership. Whether it’s somebody like Steve Jobs or Elon Musk (and I could go on and on), we’re groomed to worship these super-geniuses. As I think about culture, it dawns on me that we never hear about any of the thousands of people who work for these companies. Do you really think that Steve Jobs, or his successor, Tim Cook, had or has all of the great ideas at Apple? That’s silly, but it’s also where we are as a society.

As we are celebrating Celero’s first year, I’ve found a particular aspect of our emerging culture not only noteworthy, but also something that’s actually changed how I choose to interact with my colleagues here. I’ve witnessed this dynamic on a daily basis, so I know it’s not a fad or a fluke. What I’m talking about is selfless leadership.

Many of us are taught that in order to compete and win in corporate life, we need to be a little selfish and make sure we take credit for successful outcomes. What I witness here, from leaders like Jeff Brown, Kevin Jones, and many others, is a simple sharing of the wealth or giving credit to any and all who deserve it and doing so openly.  

My job is in project management, and at a startup like Celero, those projects can be anything from overseeing an office buildout, managing an integration, or guiding a workstream. When I think about getting in the weeds of a project, the day-to-day grind, and the overall amount of calories that we’re all spending together on a project, I often pause to also think of the amount of people, intellect, and the overall amount of blood, sweat and tears that can go into every project all the way through to completion. It’s humbling to think of all the people that are involved in everything we do. And then I think about the number of times that I have heard our leaders Jeff or Kevin, or Scott Farace or Jim Harris, call out people who played pivotal roles in a project’s success.  When they give this credit, they not only do so publicly, but also never take credit themselves. For our leaders, it’s all about the team. While they are all industry veterans and actual thought leaders in payments and fintech, you’ll never see cults of leadership developing around them, because they prefer to share the success.

To me, this selfless leadership dynamic is perhaps one of the most inspiring things that I’ve witnessed since joining Celero. To see how natural it is for these guys to sit there and publicly give credit where it’s due, and to really make it a point to not stand up and say “I did it, it was me,” and to actually do the opposite of that. To not take credit for anything, to stand back and say, “I could not have done this without you, you, you, and you,” well, that’s significant.

Furthermore, the people they recognize are often those who probably think that their names would never be recognized or brought up in conversation. For me, this kind of recognition, whether fulfilled or neglected, can be what makes or breaks an employee—I firmly believe that. So being able to win as a team and to lose as a team, but to also give credit and to pat someone on the back when they have done an incredible job is incredibly noteworthy. This culture of the selfless leader is one of the driving forces behind our culture at Celero, and as we grow, our leadership will naturally expand to include many others. I am confident that this element of our culture is something that we will continue to embed in who we are and prove foundational to our success as we move forward.

Kevin Jones November 26, 2019 Growing up in the High Country of my native North Carolina, I’ve always loved to ski. For a mountain boy like me, being on a snowy slope with friends or family is truly my happy place.

I can remember the first time I went skiing with a few good friends, included among them was Travis Mash, my best friend to this day. My first trip to the local slopes was a big one—we skied for three days straight. The first day, we all fell down A LOT, and we laughed about it together that night. The next day, Travis and I continued to fall quite a bit, while one of our friends fell a little, and two guys in our party of five didn’t fall once!

On the final day, Travis and I still fell down a ton, one guy fell a few times, and those same two guys didn’t fall at all.  You’d be accused of being reasonable if you thought that the two guys who quit falling after day one were the smart ones in our group. And maybe they were, in the eyes of some.  But only two of us were skiing the most difficult slopes—known in ski parlance as black diamonds. And while I don’t know about those other three, I’m still skiing those black diamonds.

There are a few good lessons here. First, you need to set high goals for yourself, and everyone knows this to be true. But the second lesson is just as important, if not more so:  to succeed, you have to be willing to fall down to progress. Third, it’s always easier to push yourself to take risks and succeed when you see others around you doing the same. Thanks, Travis, for inspiring me way back then and even today. 

As we continue to talk about building a high-performance culture, I’m often asked what the driving ethos of a company should be, in order to reach this aim. Many people mistakenly think that it’s simply down to setting big goals and holding people accountable to them. While pushing people to achieve big things is certainly a fundamental behavior to success, every behavior stems from a mentality or philosophical approach.

Not all of these mentalities or approaches are good. Many are as simple as giving big rewards to those who close business and firing those who don’t—think of it as the Glengarry Glen Ross philosophy (“Coffee is for closers!”). While that makes for a fun movie experience, it’s not a recipe for leading people to big, sustainable success. Neither is the “getting people to buy in” approach—leading people to achieve new heights isn’t about persuasion.

So, what’s it all about? If you think about it, building a business successfully, whether you’re performing a role here at Celero or working in a small business, is about freedom.  It’s about the freedom to think, the freedom to create, and the freedom to necessarily reinvent yourself and your strategy on a daily basis. To achieve sustained growth, you can’t just repeat what made you successful yesterday. Every business in America has competition, and those who rest on yesterday’s ideas get their lunch eaten today and tomorrow.

So how do we get this freedom we’re talking about, if we’re not the CEO or business owner. In the case of Celero, it’s about granting every person here that freedom. And it’s not just saying, “Be free and have success!”  That’s as silly as it sounds when you read it aloud. Rather, it’s the opposite—we have to free each other of fear. We can’t be afraid to take risks, make mistakes, and be bold.

I say those three things—taking risks, making mistakes, and being bold—in a certain order for a reason. My team has set some pretty high goals for themselves by which we measure our performance. In fact, like most good teams, we’re constantly raising our standards, based on where our competition lies and especially on customer needs. In order to maintain this commitment to continuous improvement, we don’t need buy-in. We need for people to take risks. It’s only when we take risks that we can better what we did yesterday.

When you take risks in business, as Travis and I did on those black diamonds, you sometimes make mistakes and fail. I happen to believe and know that we hire really intelligent people at Celero—people like Deidra Parsons make sure of that. One thing I’ve observed through the years is that intelligent people aren’t submissive, and they don’t shrink from the challenges they face simply because they’ve failed or made a mistake. They come back harder and stronger—they’re emboldened by their failure to produce and what they’ve learned from it. While nobody likes failure in the moment, the kind of people I’m describing—those true high performers and leaders—begin relishing the challenge all over again even before the wounds have healed.

The best people, who are leaders no matter where they function within an organizational chart, are what I like to call “battle-hardened,” and you can’t be battle-hardened without losing a few along the way. Losing breeds resilience, and resilience is what fuels us for the long haul in life and in business.

Every day, I approach my teams and individuals, listening to their approaches—to see if they’re thinking big enough—and watching how they go about achieving their goals—to see if they are taking those necessary risks to achieve more than they did yesterday. If they’re not thinking big enough and risking enough to sometimes make mistakes, it’s my job to give them that freedom all over again.

And while for each of them it’s about that freedom, for me, it’s simply about cashing that check that I’ve written. The way you give freedom often has less to do with encouraging risk than it does to do with punishing failure. While we can’t tolerate recklessness, we have to give grace to those who abide by these principles of taking risks, making mistakes, and being bold. I find that when you give people even just a little room to see their ideas through, their wild successes far outweigh any temporary setbacks.

Kevin Jones October 1, 2019 I’ve been tasked with leadership for most of my career. People often ask me what it takes to be an effective leader, and I often answer that to become a good leader, you need to be a good follower first. Subscribing to this maxim is important for people at all levels of an organization. Even as a CEO, I must follow the leadership of my board of directors, which includes some of my most trusted advisors and investors.

Here are just a few of the important ways we can develop ourselves as followers, so that our leaders can help us reach our full potential.

Be Character-Driven

Being a leader or follower takes character, because having character is the foundation upon which we build trust with others. Being character-driven yields great credibility in friendships, marriage, and parent-child relationships, and it’s just as effective in professional life.

Anyone who reads my work knows that there are two character-defining values that I hold above all others:  respect and humility.  Those who respect others—not based on job titles or perception of power—but on personal merit, show that they are open to learning. When you place respect on others, you are, in fact, anointing them to share their views as equals. Respect shows honor, and you’ll get honor in return.

The other big character-driver for me, the yang to respect’s yin, is humility.  When you are humble, you are literally placing your own ego in submission to your desire to learn. In effect, it’s doubling down on the respect you place on those who merit that respect. You’re effectively saying to them, I can’t do this alone, and I know you have something valuable to contribute. When a true leader detects both respect and humility on your part, there is no limit to what you can achieve together.

Don’t Be Afraid to Make Mistakes

I work very hard to create cultures where my team and I can take risks in the service of our clients, stakeholders, and each other. When you’re all in it together, there should be room for everyone to take the risks necessary to raise their performance standards higher day after day. I often tell team members that you will not ever “ski the blacks” unless you are willing to fall.

To be a good follower and leader, it’s imperative that you take risks. No leader can afford to manage to the status quo, which is the enemy of growth. Rather than covering your behind, you need to put yourself forward, knowing that you’re going to fail sometimes. A true leader will recognize those who fail, learn from those failures, and achieve even bigger success along the way as the greatest assets of their organization.

Be Accountable

While it’s fine to take risks and make mistakes, it’s unacceptable to lack accountability. Accountability, like respect and humility, is a character-driver and trust-builder. When your leaders know you are accountable, they are more likely to give you plum assignments that will help you grow, because they trust you. Whenever I need to delegate leadership in an area, a person’s accountability is just as important as their performance. Just like a mutual fund disclaimer—past performance is not an indication of future returns—we know that counting on someone means that you’re able to trust them when the chips inevitably are down.

It’s also critical to helping your leadership assess where real problems lie in an organization or externally. If you’re willing to step up and own your mistakes, it’s that much easier—in this business world that often feels like it moves at the speed of light—for everyone to re-chart the course necessary to achieve the goal.   Being accountable is not only right from a moral perspective, but also from a practical point-of-view. Accountability increases efficiency. The fact of the matter is that any good business is going to make mistakes, and the higher the accountability in the organization, the more time we spend fixing problems and the less time wasted on figuring them out.  

Seek Mentorship

This world is bigger than all of us, so we need to know that we’re in it together, not just as teams, but with someone who has our back. At every level of my career—performer, manager, middle manager, executive, founder, and CEO—I’ve had at least one, if not several go-to mentors. 

Mentors can do many great things for you. They can validate your great ideas, shoot down your terrible concepts, or help you work through those that deserve more attention. They can help you trust your instincts or help you identify situations where you might need to gather more data versus making a gut move.

Perhaps most of all, mentors can help us by simply being good humans. Those of us who care about being the best we can be at home and at work can be our own worst critics. I can tell you genuinely that one of my favorite aspects of mentoring is helping someone I love to pick themselves up after a failure.  Giving that energy back to someone who works hard, is trustworthy, and is full of that humility and respect I covet is a real blessing to me.  

See a Bigger Picture than Your Own

When you decide to become a great follower, it’s also imperative that you’re able to see a bigger picture than the one that’s your routine perspective. We have to empathize with our leaders to know how they contextualize their decisions, so that we can have greater understanding and meet the needs of their organization.

There’s always a bigger picture. If you’re a sales performer, your manager may have full profit-and-loss responsibility that forces certain frameworks on their decisions, contrary to your own context that’s centered on revenue.  Even as wide and complicated of a perspective as I have in my CEO role, does my leadership at LLR, our major investor, have a bigger picture than Celero? Of course they do, and what we achieve needs to fit in the context of their entire investment portfolio.

It’s easier to see how to be a good follower when you don’t have any management or leadership responsibilities. Many of you reading these thoughts of mine, however, have those kinds of responsibilities. You must be extra diligent to not only build your leadership, but also strive to become a better follower every day. Here’s the best part—doing both adds up to being a successful professional, and more importantly, a better person.

Kevin Jones, ETA President and Chairman, and CEO, Celero Commerce September 16, 2019 It was a pleasure to spend two days in Washington, D.C. advocating on behalf of Electronic Transaction Association (ETA) members during our annual Fly-In and ETA FinTech Policy Forum.  Across the events, ETA members exchanged ideas and provided essential input on our industry to Members of Congress and policymakers across the government.

It’s exciting to serve as the President of ETA at this time of tremendous growth – in both size and importance – of the payments technology industry. ETA members, from startups to public companies, drive the future of commerce. Through innovative distribution and payment acceptance models for credit, debit, and prepaid cards, electronic payments are more important to American businesses and consumers than ever before. As we head into the final quarter of 2019, we have many reasons to be excited about the state of payments and financial technology, as well as the future of our association.

Since I joined the payments industry at the start of the new millennium, the total number of credit card transactions in the U.S. has doubled to over 33 billion per year. The payments industry now fuels annually $7 trillion in payments across North America and a staggering $21 trillion globally.

I witnessed  firsthand the enthusiasm for the products and services our industry is delivering during my two days in D.C. Our work truly speaks for itself – you can tell our government leaders are just as excited as we are about our industry’s achievements and where we are headed.

A key example is how payments technology is helping the underserved and democratizing access to financial services.  More people today own a cell phone than have a bank account. FinTech enables a simple app on your phone to make a payment, take a payment, transfer money to a friend, or even allow a small business to submit a loan application. With advances like these, fintech has the power to help Americans of all incomes and businesses of all sizes.

With the power of the internet, merchants of virtually any size can instantly operate in all 50 states and around the globe.  Part of our advocacy efforts was to encourage policymakers to provide clarity with a uniform national privacy law. Complying with a patchwork of unique state privacy laws would be confusing to customers and daunting, logistically difficult, and costly for payments businesses of all sizes to ensure compliance.

ETA’s advocacy on this issue is critical since data plays an important role in supporting our industry’s continuous effort to fight fraud.   Our long-standing commitment to fighting fraud is essential to the profitability of our businesses. One of our industry’s greatest achievements was the rollout of EMV cards.  With tokenization brought by EMV cards, counterfeit fraud was reduced by 87% in the U.S. and made that fraud less profitable.  But our industry’s fight against fraud online is far from finished.

Now, real-time monitoring allows for malicious actors to be identified even before a fraudulent transaction is executed. Tools like biometrics, geo-location, and tokenization—all recent innovations—are key to efforts in fighting fraud. These technologies are powered by the responsible use of data to create smart and sophisticated tools that prevent and detect fraud. It’s essential that we as payments advocates speak up for a policy environment that supports them.

From my seat on the ETA Board of Directors, I see how vital ETA is, both in Washington and around the country, to help our industry grow.  Under the new leadership of Jodie Kelley, we are bringing fresh energy to our work with policymakers on pro-payments legislation that helps all consumers and business move forward and strengthen the American economy.

Innovation, collaboration, and a motivation that’s built on positioning American businesses and consumers for financial success—these are the defining qualities of our industry and of ETA.

This article originally ran on TransactionTrends.com, the official news site of ETA. Click here to subscribe to Transaction Trends Weekly to receive weekly payments industry news and analysis from ETA.

Much has been written and discussed on the notion of the performance-based culture. This is a concept that I bought into as a very young manager, and I’ve expanded on it through my years leading larger and larger groups of people as they accomplish great things together.

Focusing on people doesn’t just mean hiring right, nor does it stop at training. It means a commitment to their development, helping them align their own built-in purpose to the needs of your organization, so you can grow together and succeed together.

Values Alignment

I’ve always had the thrill of managing very diverse teams, people coming from all walks of life. Maybe it’s just my upbringing in the North Carolina mountains, where we all scrapped to make a living and take care of each other, but I never ascribed any kind of merit or status based on somebody’s wealth, skin color, or whose son or daughter they were.

To the contrary, it was ingrained in me, as I was raised by my single mom, to be humble and respectful, and to honor those who showed humility and respect for others.  I took this to heart in a big way—I’ve collected many friends along my journey through life, and these are the two common denominators in those I value most. To a person, the men and women in my life work hard at whatever they do, and they do so humbly, going out of their way to show respect to others. And the values they have transcend all walks of life, so you naturally find yourself surrounded by men and women, people of different races and ethnicities, rich, poor and middle class, and any of the other ways in which society is happy to differentiate us.

Challenging Mediocrity

I think with any large group of people, you’re going to have some application of the 80/20 rule, where your top 20 percent pulls the team goalward, or a bell curve, where you have some at the high-performance end, some pretty weak performers, and a fat middle who range from those who just need a little boost before they become top performers to those just another cycle away from joining the bottom-feeders. 

Whatever diagram applies to your group, it’s important for all to challenge mediocrity. When you consistently challenge your team to do more, to do better, to do things more simply, and to do those things faster, you find out where the leaders are. I’ve always prided myself on doing the work necessary at leadership level to take this ethos a step further.  If you want to know my opinion on the secret sauce to success—and more specifically, what I feel has helped to drive the success of my teams—it’s that I consistently challenge mediocrity in all its shapes and forms at individual level.

Anybody can—and should—reward top performers with raises, bonuses, and promotions. But the real reward for leaders comes from startups, and better yet from turnaround projects, and we need to think of those possibilities not just in the organizations we lead, but in the individual sense.

From Worst to First 

I’ll give you an example of employing this strategy with individuals. At 27, I found myself leading 10 branch offices of a regional bank. Each office had a manager, assistant manager, and about five entry level sales executive employees. The leader of our division, one of my earliest and best mentors, was committed to building a high-performance culture, and it was great for me to gain early exposure to this concept in a bank environment.

My own path showed just how exciting of a culture my early mentor was building. Within just over a year, I had earned three promotions after leading my division as an individual, as a branch manager, and as a regional manager in new loans generated. Our entire team was known as a group of champions.

I learned one of my bigger lessons in leadership, when I was handed a new opportunity to double the size of my region. Instinctively, since I was raised to treat people with respect as individuals, I began studying my new employees and surveying their managers and peers. This process armed me with the information I’d need to tailor a management style to each individual’s needs.  

One of the first things I did was to confront our team’s weakest links. My theory was that the team would win if these folks did better, or if they left. What I discovered, by focusing on each individual’s needs, is that sometimes when you meet people where they are, without sacrificing your standards, you’ll see people that can actually go from worst to first.

One of the more important people in my life is just such an example. He’s one of those I confronted after taking over additional branches. The word on this guy was that he was very bright, but his poor attitude reflected not only in his own performance (or lack thereof), but also in the flagging performances of those he’d befriended most.

Tough Love Works When People Need It

I chose an approach of tough love. When I confronted him, I let him know how much potential I thought he had—in fact, I let him know that he could become our best performers in the entire region (and one of the bank’s stars) based on his grasp of the business and his people skills. I also let him know that should he rise to my expectations, raises, promotions, and the thrill of every success awaited, and in short order.

But I also told him that there was another path. He could do us all a favor—especially himself—and find another job where he might be more self-motivated and ultimately happier. Needless to say, and the reason I’m obviously sharing this example with you, our bottom performer chose the harder path and stayed. And he didn’t just stay. He excelled in every aspect of his job, becoming one of the best examples and motivators to others. I ended up putting this guy—who himself came within an inch of being fired—in charge of all of my region’s hiring and training! 

It’s About Them, Not You

That level of success that we achieved together was eye-opening for me. People have different needs, and managers and leaders should uncover those needs and respond to them in kind. Our bottom performer, it turns out, needed to be challenged more creatively. In any profession, there are lots of problems that require creative minds to find solutions. I found him to be an incredible strategic partner, and my role in his success was simply to help him find ways to unleash his creativity. Now, nearly a quarter-century later, he holds a very important role here at Celero.

I believe strongly that an effective CEO should focus on facilitating great decisions, as opposed to always making decisions ourselves. That requires a lot of work and focusing on culture, so that people can perform in ways that fulfill their purpose and hit your goals, too.

A performance-based culture is a fair culture that rewards team members who create value. It challenges the top performers and keeps them engaged. I have found that in the day-to-day, some team members prefer comfort, but over time, they will leave if you aren’t cultivating them to reach their potential.

I think intentionally about those who report to me and work in my organizations. A driving thought is ensuring that if they chose me as a mentor or my organization as home, that I have high expectations for myself, as we them to reach their full potential. Through my career, my greatest joy and success is playing that role with others:  recognizing and cultivating excellence in the individuals on my team and witnessing their growth, in their careers and in life.

Kevin Jones - August 22, 2019 As I look across the banking industry, I often see trends that I find disturbing. Over the last few years, I’ve observed a widening gulf in the amount of deposits that community banks attract versus the loan dollars they generate, mostly to small businesses.

A specific statistic that illustrates this point comes from a market study by the Institute for Local Self-Reliance (ILSR) a nonprofit dedicated to helping communities grow sustainably from several angles, including banking, broadband, energy, and waste. According to the ILSR, community banks issue a whopping 52 percent of all small business loans, while they hold only 16 percent of the nation’s assets.  

There are many contributing factors to this dynamic, which isn’t in itself sustainable, as banking is predicated on a balance of maintaining appropriate levels of deposits, both demand and time, with the issuance of loans and lines of credit to individuals and businesses.  The community banking conundrum is driven by multiple converging factors, among them competition from big banks for deposits—especially those of a commercial nature—as well as geographic limitations (many community banks have operated more consistently in less wealthy communities, going to places the big banks have avoided). The localized lending that community banks do is a cornerstone of enabling financial inclusion and energizing the American dream.

As a fintech leader, I find it disturbing that one of the larger perceived pressures of community banking comes from our sector. Technology companies in areas such as lending are threatening areas of profitability for community banks. It’s one thing to have your deposit base eroded, but it becomes difficult for community banks to survive this phenomenon in tandem with the erosion of their loan base, especially in small business lending.

I see this differently.

One person’s threat is another’s opportunity.  While I’ll let other fintechs speak to their own models and motivations, I can tell you with complete authenticity that Celero and its brands are developing leading-edge technology, in payments, software-as-a-service, analytics, business intelligence, social monitoring, and sales tools, and we are doing so to fulfill our commitment to help our community bank partners and their small business customers compete and win.

And we don’t limit ourselves to simply selling our own products and services. In our role as strategic partners and advisors, we not only help our community bankers realize a more expansive relationship with their clients, but we also help them connect the dots with regard to all of the tools at their disposal. My colleague and co-founder, Jeff Brown, exemplified this ethos recently, as he explained how our bank partners can increase fee income and deposit balances through payments and funding accounts earmarked for asset-based lending. Deposits are the launchpad for lending capability, and community bank loans provide a significantly healthier injection of capital than alternative lending options. As I stated before, these loans fuel innovative small businesses in towns all across America.

We are convinced that in order for community banks to fulfill their mission and continue to better serve rural Americans, as well as those in small towns and underserved urban neighborhoods, they need the right strategic partners, the right products, and the right tools to succeed.

Last year, when I began acquiring the strategic pieces of Celero and combining that with my dream team of executives, managers, and performers, I was grateful to find that our stakeholders completely embraced our vision to bring enterprise-level technology in terms of best-in-class payments capabilities and consumable technology tools, to small and mid-sized companies across the country. It’s obvious to me that when you give community bankers—some of the smartest people who are driven to help their business clients as much as they can—the tools to help their customers succeed, you can achieve your own bottom line goals, while helping your partners and their customers achieve theirs, too. Accelerating the growth of our partners and business customers is the core focus. Combining community bank products and services with our fintech offerings creates a formula that positions these small to mid-size businesses to not only survive and compete, but to lead and thrive in a sustainable way.

Aligning your own success to that of your partners and their customers isn’t original, nor should it be particularly noteworthy. But at this point in our history, our community banks need all of us operating on this principle, doing everything we can to work together to serve American business. According to the Small Business and Entrepreneurship Council, firms with fewer than 20 employees account for more than 89 percent of American businesses. That statistic alone tells you the magnitude of what we’re facing here, but I’m glad to know we are partnering with some of the most capable people in business, and commit that Celero will strive to hold up its end of the deal, passionately cultivating the success of our bank partners.

Jim Harris-July 11, 2019 My long-time friend and our CEO, Kevin Jones, talks often about the importance of integration when it comes to helping small and mid-sized businesses compete and win. What he’s referring to is a natural fit that occurs when great financial technology from different corners of the market—payments, SaaS, and analytics—comes together to bring a one-stop shop for SMB management, both from financial and operational perspectives.

While Kevin’s vision is unmatched in the industry in this regard, I focus my role on something that’s even more foundational, and I’m pleased to tell you that what’s behind every great integration is a great partnership, whether it’s a collection of brands like UMS Banking, Elmhurst, Tandem, and RazorSync, or you’re talking about partnerships of the external, strategic variety.

For me, there are many great partnership opportunities for a company like Celero and its subsidiaries like UMS. We’ve seen a wonderful partnership develop internally as we integrate our teams on a shared services platform that will offer incredible value to SMBs. We also see this dynamic in our work at local community banks through UMS, as well as larger community banks and regional banks through Elmhurst.

At UMS and Elmhurst, we work through commercial bankers and the many teammates who support their work, from branch managers to tellers. Partnerships work and only work when both sides can win. When a community bank brings in a payment processing partner like UMS or Elmhurst, both teams can do what they do best, share the revenue accordingly, and give their mutual customer, the SMB, the tools they need to compete. Commercial bankers are at their best when they can focus on building client relationships and leave their partners to simplify otherwise complex aspects of their clients’ businesses.

The same can be said for software providers. There are many SaaS providers out there that are focused on specific industry verticals. A great example is our own RazorSync, but there are many others out there, too. Again, the developer can stick to what they do best—writing great software, while we can come in with a frictionless integration and onboarding experience for the SMB that’s as easy as clicking on the browser icon on your new computer’s desktop. While I suppose it’s possible that you can build a great app without payments integration, having the revenue stream connected to your financial and operational management means a lot more data and a lot better decision-making along your business-building journey.  

Another great value proposition is that of associations. Again, a partnership must deliver value on both ends. When we can engage with associations, we have the opportunity to grow exponentially the number of merchants we serve. In exchange, the association—a member-driven organization that needs to think of new ways each year to deliver greater value to its member companies—has a program that offers competitive rates and terms that help its members grow.

One of the things I love most about our industry is that it’s full of people who are collaborative by nature. That doesn’t mean that we’re not competitive, but rather that we’re able to focus not only on what we need in business, but what our partners, be they financial institutions, software developers, associations, or others, need as well.  What we are building here at Celero, while it may not be unique, it’s nonetheless special. It’s special because of the integrity we have in aligning our success to that of our partners. They find out very quickly that if we are going to invest ourselves, our financial resources, and our capabilities into a partnership, it’s because we’re betting on them to win.

When you base your partnerships on being fair to your partners and positioning them to win big, you can expect great results for your own team as a result, too.

Kevin Jones- June 27, 2019 I’ve reached a place in my career where I choose the people I work with, whether it’s our employees, our strategic partners, or the kinds of customers we bring in to Celero. That’s not something to be taken lightly, and while that’s an incredible place to be, it comes with a high price. That price is constant mindfulness of the needs of others, and how best to take care of their needs. The key to our success is empathy.

When I first began managing people over 20 years ago, I knew that in order to motivate people to succeed for themselves and their customers beyond their wildest dreams, there couldn’t be a “Kevin Jones Way” of leadership. Instead, I decided to make each relationship about the other person, thinking that if I gave them what they needed—confidence, encouragement, tools, and sometimes an appropriate dose of tough love—they would not only play their role on the team, but be the ultimate teammate.

Early on, I could see that this path to leadership was a formula for winning—and winning big. When people know that you believe in them, consider their well-being in an authentic way, and invest in them for the long-term, their performance, productivity, and happiness know few boundaries.

The same dynamic holds true for partners and customers. When you extend empathy and try to walk a mile in the shoes of those outside your company, great things happen. In the business-to-business world, business owners and managers are looking for someone that transcends the traditional vendor/client framework, wanting trusted partners. When you live with empathy for your partners and clients, you can even transcend the trusted partner level and become more like a teammate or even a friend or family member.

What I’m talking about here isn’t a normal approach, but I think it’s what the best companies do best—empathizing to better understand employees, partners, and customers. And this abnormal approach definitely yields abnormal responses, underpinned by a higher level of loyalty.

Here’s the best part: when you choose to lead with your values, first among them empathy, but closely behind come teamwork, accountability, respect, and positivity, success is sweeter. It’s sweeter because you share it with others, with your employees, partners, and customers. I like to think of the difference in a way that many can relate to immediately. I enjoyed my life immensely before I met my wife. My life was certainly good, but I had no idea how great it would become, first through sharing it with her, and then with her and our children.

Anybody who knows me at all hears me talk a lot about concepts like loyalty and culture. Loyalty is something we create through individual relationships, and so is culture. But culture is what happens through the exponential power of all of those individual relationships when you bind them together in the service of a single mission. And the key to all of these wonderful elements of a company is empathy.