State-owned bank strengthens North Dakota’s economy by providing customized financial tools that support agriculture, commerce, and education

Bismarck, ND (September 30, 2025) – The American Fintech Council (AFC), the premier industry association representing responsible fintech companies and innovative banks, today announced the addition of Bank of North Dakota (BND) as its newest member. BND is the only state-owned bank in the United States, providing quality financial services that support agriculture, commerce, and industry across North Dakota. As an AFC member, BND will collaborate with other financial institutions to advance responsible innovations that support communities and drive economic growth.

“Bank of North Dakota exemplifies a thoughtful, community-first banking model that meets the diverse needs of residents and businesses,” said Phil Goldfeder, Chief Executive Officer of the American Fintech Council. “Their focus on customized, responsible banking solutions complements our vision of supporting financial innovation that promotes growth and inclusivity. We are excited to collaborate with BND to help advance technologies and services that strengthen the financial well-being of North Dakota.”

BND partners with local financial institutions for business and agricultural loan programs, facilitates Legislative financial programs that benefit the state, helps North Dakota kids with secondary education, and stands ready for state disasters and hardships.

“Our mission is to provide North Dakota’s financial institutions with the tools and solutions they need to succeed and grow in this ever-changing environment,” said Don Morgan, President and CEO of Bank of North Dakota. “We are committed to providing reliable, tailored banking services that support both immediate needs and long-term sustainability. Joining the American Fintech Council enables us to develop innovative solutions that put the customer experience first, helping us deliver more personalized and effective financial services to the we serve.”

A standards-based organization, AFC is the premier trade association representing the largest financial technology (Fintech) companies and innovative banks offering embedded finance solutions. AFC’s mission is to promote a transparent, inclusive, and customer-centric financial system by supporting responsible innovation in financial services and encouraging sound public policy. AFC members foster competition in consumer finance and pioneer products to better serve underserved consumer segments and geographies.

About Bank of North Dakota
Bank of North Dakota (BND) is the only state-owned bank in the United States. Since 1919, its mission to deliver quality, sound financial services that promote agriculture, commerce and industry has driven numerous initiatives for the residents of North Dakota to improve quality of life and the state’s economy. With just over $10 billion in assets, the Bank acts as a growth catalyst for North Dakota through partnering with the state’s financial institutions, leads special Legislative programs to fulfill on state strategies, helps North Dakota kids through secondary education, and is there when needed during hardships and disasters.

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