The Milford Bank announced today that it will offer Plinqit, a brandable, savings app and the only savings tool that pays users for engaging with content, helping customers save money and increase financial wellness.
Established in 1872, The Milford Bank was formed to serve the financial needs of its customers and its community. Since the beginning, the bank’s goals have not changed. When The Milford Bank wanted to provide a cost effective, simple way for customers to save money for life goals, the bank turned to Plinqit.
Attracted by the ease of use and uniqueness of the product, The Milford Bank selected Plinqit to offer customers a non-traditional, modern tool that helps with the first step of the financial wellness journey: saving money. Unlike many fintechs that offer consumer-facing savings apps, Plinqit is designed specifically for financial institutions to help drive engagement and deposit growth while maintaining their commitment to serving their communities with top-notch services.
For instance, Plinqit’s patent-pending Build Skills™ is the only platform that pays users for engaging with content. Users simply watch a video or read an article from the Plinqit library and take a short quiz. Then users are rewarded for learning more about personal finances, creating higher user engagement for financial institutions.
“With Plinqit, we can provide customers a digital experience that helps them save while also providing them with The Milford Bank’s personalized customer service,” said Susan Shields, President and Chief Executive Officer of The Milford Bank. “HT Mobile Apps’ knowledge of community banking and focus on partnering with community banks instead of competing against us drew us to their unique value proposition. We are excited to partner with Plinqit and see our customers meet their savings goals effectively all while attracting new customers who may not understand the difference a community bank can make on their path to financial wellness.”
“When we created Plinqit, we were looking for a way for community financial institutions to better engage with customers while also teaching people about personal finances,” said Kathleen Craig, founder and Chief Executive Officer of HT Mobile Apps, creator of Plinqit. “It has worked – total Plinqit deposits recently surpassed $500,000 in just a few short months. By partnering with The Milford Bank, we can support their goals of serving their community, improving the financial wellness of their customers in a fun way.”