Plinqit

Increase deposits. Attract new customers. Expand your retail footprint. All while helping your customers live their best financial life. Learn more below 👇

[Plinqit @plinqit]

A recent article in @FinancialBrand features tips on how #Banks can navigate the uncertain economic environment. Things like... providing financial guidance to assist customers through potential economic scenarios aligned with new policies... which could serve as a strategy to maintain deposits during this uncertain period. https://t.co/vNL6bly9A2

#EconomicPolicy #Deposits #BankMarketing

[Plinqit @plinqit]

The team at Plinqit celebrates the everyday heroes that protect our country, who sacrifice time with loved ones, who put others' safety first, and who exhibit courage in extreme circumstances. Thank you for your service.

[Plinqit @plinqit]

Middle-income households are feeling squeezed, even after inflation cools. A majority of households with income between $30,000 and $130,000 rate their personal finances negatively, according to a new survey.

The survey findings show inflation is still a major concern among the middle class and worries about credit card debt are on the rise.

You can check out the full recap of the survey data here ➡ https://t.co/4iZjkjUG7Y

Despite the ongoing financial stress, Plinqit’s 2024 State of Savings Report shows that a majority of Americans, 90%, are saving money this year and 41% are saving to pay down debt. This report is based on a recent survey conducted on our behalf by The Harris Poll of more than 2,000 U.S. adults ages 18 and older.

This is positive news, especially for financial institutions who proactively guide consumers on how to budget, build strong saving habits and even maximize their savings with the right products.

In even better news, our data also shows that younger generations tend to save more. Nearly half of Gen Z, 47%, saves more than 20% of their monthly income and 36% of Millennials say the same.

Given these strong savings habits, coupled with the guidance that financial institutions can offer their customers, perhaps Americans’ negative sentiments about their personal finances will begin to ease. What do you think?

#PersonalFinance #CreditCardDebt #Savings

[Plinqit @plinqit]

People's savings habits vary a LOT by generation. If you're a #bank or #creditunion looking to attract #genz and #millennials, they will need guidance on best tools for their #deposits. Read on from @ABABankers https://t.co/YdCjGOmA9e

[Cornerstone Foundation @CornerstoneCUF]

Did you know? 71.5% have credit cards, but only 20% use high-yield savings! @plinqit’s new report shows we need to boost our savings rate: https://t.co/GmNaSU17Fb

#FoundationPartner

[Plinqit @plinqit]

43% of Gen Z said they are saving to pay off debt this year – one of their top savings priorities. At the same time, the 2024 Plinqit State of Savings report shows this generation is focused on other goals too, like travel, purchasing a vehicle, or buying a home. How can #banks and #creditunions help Gen Z effectively manage these conflicting goals? ➡ https://t.co/0SvZ8340L9

[Plinqit @plinqit]

It's Halloween 🎃, yes, but it's also #worldsavingsday! If saving was easy, there wouldn't be so many articles, books, and influencers/experts on the basics. We're partial to Plinqit's automated savings, which rewards savers for consuming #financialwellness and financial literacy content, and High Yield Savings by Plinqit. And we're honored to partner with exceptional #banks and #creditunions who offer Plinqit!

[Plinqit @plinqit]

Is offering a higher APY #highyieldsavings account the key to #deposits? https://t.co/uGZBWCdmb4

[Plinqit @plinqit]

The top high-yield savings accounts offer an APY of 5% or greater – 10X the average rate of a traditional saving or checking account – but only 1 in 4 Americans earn this rate. #Bankers, could APY be your key to #deposits? Clearly a #highyieldsavings offering is. https://t.co/kS3RmCfNDs

[Plinqit @plinqit]

A new survey of community bankers cited cost of funds as a top concern, amid the higher rate environment. “Right now, our motto is ‘Survive until 2025,’” one Pennsylvania community bank CEO shared.

Technology costs and regulatory demands are also among the worries for today’s bankers.

Check out the full recap of the survey findings in Banking Dive: https://t.co/fIkbkMRIVP

As a fintech company led by former bank executives, we understand these concerns, especially as many FIs are wrapping up their strategic planning for 2025. If you're like most banks and generating a steady stream of deposits is a priority, technology costs and regulatory requirements don’t have to slow you down. Especially if you’ve got a strong fintech partner with a team that has real-world banking experience.

Got aggressive deposit growth goals on the horizon for 2025? Let’s talk!

#CostofFunds #Deposits #Fintech

[Plinqit @plinqit]

According to the Kansas City Federal Reserve, 95.5% of U.S. households have a bank account while 71.5% have credit card accounts. Yet Plinqit’s 2024 State of Savings report paints a stark contrast: only 20% of Americans are saving money in high yield savings accounts (HYSA). Why are so few consumers taking advantage of #highyieldsavings options, and what can #banks do to shift these habits while boosting #depositgrowth? https://t.co/HlWWu7vnPY

[Plinqit @plinqit]

NEW INFOGRAPHIC! Check out the data behind Americans’ attitudes – particularly younger generations, like Gen Z – toward saving and savings behavior. Plinqit commissioned The Harris Poll to survey thousands of consumers about what they save for & why. https://t.co/AoeJWBcJZ4

[Plinqit @plinqit]

Chase is investing heavily in its branch network. Earlier this year, the megabank announced it would open 500 new branches over the next 3 years. More recently, the bank indicates its also investing in more than 100 branches in urban and rural markets that other banks have typically been exiting, according to a recent piece in The Financial Brand.

Check out the full story here: https://t.co/8gr231Ai0b

What does this mean for other financial institutions, especially those without the market footprint of a bank like Chase?

While it may be another threat from the big banks, we believe this aggressive play doesn’t have to signal doom and gloom for the nation’s regional and community banks. Banks that think outside the “branch box” can generate deposits more cost-effectively and in a way that nurtures stronger, more loyal customer relationships long-term.

Launching a digital affinity brand with a compelling product offering is one tactic that has worked for many institutions. Citizens Bank of Edmond took this approach with ROGER Bank and at Plinqit, we’re helping more banks reach new markets too. If deposit growth is your top priority for 2025, let’s chat!

#DepositGrowth #BankBranches #AffinityBrand #DigitalBrand

[Plinqit @plinqit]

Congratulations to Tammy Hopkins Wilson on her well-deserved promotion to SVP, Product Management. Plinqit Company is so fortunate to have her on the executive team.

“Tammy’s expertise and collaborative approach to product are invaluable and setting the organization up for our next phase of growth,” said @KathleenECraig, founder and CEO of @plinqit. “We are excited to have her continue driving our product strategy forward as we evolve and expand our platform to meet the ever-changing needs of consumers and financial institutions.”

https://t.co/QlzTfG08vm

[Plinqit @plinqit]

What an honor to be named a Top #Fintech Startup by @Purpose_Jobs!

And yes, we’re #hiring! https://t.co/wgJVfQ792T

[Plinqit @plinqit]

While it's a tough time to save, you know which generation IS saving more than 20% of their HHI? Gen Z! 47% of Gen Z say they're saving more than 20% of their monthly HHI.

https://t.co/jR9WojEL0E

[Plinqit @plinqit]

So excited to be named a Top #Fintech Startup by @Purpose_Jobs! Check out the feature, and yes, we’re #hiring! https://t.co/wgJVfQ792T

[Plinqit @plinqit]

1 hour until @KathleenECraig joins the #generationalwealth transfer panel at #JHConnect! It's going to be a great session moderated by Carlos Lopez. Come join us!