The Milford Bank Launches Plinqit Savings App

Connecticut bank offers Plinqit to help customers save and build stronger relationships with the institution

ANN ARBOR, Mich.—(BUSINESS WIRE)—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.

“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”

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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.”

About Plinqit

Plinqit is a mobile first platform that is elegant and highly powerful at the same time. Unlike any other savings app on the market, its patent-pending Build Skills™ pays users for engaging with content, creating higher user engagement for financial institutions. Created by Millennials for Millennials, Plinqit helps financial institutions connect with this important demographic in a meaningful, relevant way - bringing together digital customers, FI’s and savings in one beautiful place. For more information, visit www.plinqit.com.

About The Milford Bank

On June 26, 1872, thirty-eight prominent Milford citizens who recognized the need for a bank in Milford contributed funds to start a local savings bank. Now over 120 local organizations rely on our financial support throughout the year. In addition, our Trustees, officers and staff contribute their time, talent and experience to many more groups. We continue to innovate to make banking simpler and more financially rewarding, from our newest office in Stratford to our remote deposit capture and our feature packed Web Office. We also continue to be a corporate role model for all the communities we serve. We pride ourselves on being great neighbors. All of us at The Milford Bank work hard every day to provide quality service, convenience and a wide range of popular products. That’s why our loyal customers know, we’re always there.

https://www.businesswire.com/news/home/20191104005512/en/Milford-Bank-Launches-Plinqit-Savings-App