Thomaston Savings Bank has joined the Alloy Labs Alliance, a consortium of community and mid-sized banks focused on quickening the pace of technology innovation to help banks compete against large, national players.

“Thomaston Savings Bank has always been committed to delivering the products and services our customers want and need,” Stephen Lewis, Thomaston Savings Bank’s president and CEO, said in a statement. “Being part of the Alloy Labs allows us to meet those needs and bring new innovations to market quickly and efficiently.”

Alloy Labs Alliance launched in 2018 with 12 banks from across the country and now has more than 60 members, including Middletown-based Liberty Bank, which joined in 2021. The organization also has a strategic partnership with the American Bankers Association

“The Alliance gives us a direct line to some of our most forward-thinking peers across the country, and creates opportunities for us to share best practices and develop even better practices through collaboration,” Lewis said.

Members of the Alloy Labs work together to drive innovation, build partnerships and make strategic investments, Thomaston Savings Bank said in the statement. Members have access to proprietary insights and benchmarks and can take part in peer workgroups to tackle challenges involved with modernizing bank architecture.

Alloy Labs Alliance also has a Concept Lab, a reverse accelerator program that builds partnerships between banks and startups offering services outside of traditional banking.

“We are excited that Thomaston Savings Bank has joined the Alloy Labs Alliance,” Jason Henrichs, CEO of the Alloy Labs Alliance, said in the statement. “They bring a strong commitment to serving their customers, and also a strong commitment to continuous improvement. We are looking forward to their contributions to the group’s efforts.”

Thomaston Savings Bank has about $1.5 billion in assets and 15 branches in Western Connecticut.