Faribault, MN-based Reliance Bank invited Scott Nelson, PhD, president and chief digital officer of Tamarack Technology, to join its board of directors. Since June 2021, Nelson has been providing Reliance Bank with guidance on the adoption and advancement of digital technology as part of his role on the bank’s advisory board.

“We are excited Scott has agreed to join our board of directors,” Terry Saber, board chair for Reliance Bank and its holding company, Reliance Bancorporation, said. “We have come to know Scott as a curious, intellectual, strategic thinker with a forward-looking perspective and a deep understanding of the changing delivery channels community banks must embrace to thrive. His background and expertise bring needed technology skills to our board.”

In his role on the Reliance Bank board, Nelson will provide guidance on technology strategy as well as the consideration and rollout of new offerings, including fintech partnerships. An expert in technology strategy and deployment, including internet of things connectivity, Nelson will help Reliance Bank expand its services for customers through digital innovation with new offerings and the application of new technologies. In addition, Nelson will serve on both the board’s audit committee and its newly formed technology committee.

“Reliance Bank has established a strong brand promise of customer service and financial performance since it was founded in 2007,” Nelson said. “I am honored to have been asked to join the board to help the bank with its next stage of growth expanding commitments to customers both existing and new.”

Since joining Tamarack Technology in 2020, Nelson has led efforts to refocus the business strategy around investment in digital technologies in order to provide greater value across the equipment finance industry. This has included the expansion of the company’s infrastructure, technology offerings and strategic partnerships.

Earlier this year, the company launched Tamarack.ai, a business intelligence and productivity platform that applies machine learning and artificial intelligence to continuously and autonomously help institutions increase productivity while reducing capital risk through analysis and learning gained from operational data.

During his career, Nelson has accumulated more than 30 years of product development, product management and entrepreneurial business growth experience as a technology and business leader. Prior to Tamarack, he served as the chief product officer and vice president of product at Digi International, a provider of business and IoT products and services. In his role, he defined the business strategy to drive growth by working closely with customers and marketing to understand needs and trends.

The Minneapolis/St. Paul Business Journal named Nelson a “Titan of Technology” in 2015. Nelson has also been a mentor with Alchemist Accelerator since 2014.