A growing number of fintech partnerships, incubators and accelerators are leading the charge with digital experiences that appeal to younger demographics’ demands for brands that are accountable and deliver value not only by using the table stakes of digital convenience but also by elevating the game with authentic experiences.
One example of how these components can successfully come together is the 1871 and BMO Harris Bank accelerator that is completely dedicated to women-founded fintech startups. According to Katherine Davis, its companies are creating products to simplify money management, investing and banking.
The BMO Harris Bank accelerator startups could appeal to these younger consumers’ need for financial information and align with how they want to consume it:
• As Davis explains, Plinqit is a brandable, mobile-first platform that’s both easy to use and powerful. Its patent-pending Build Skills app pays users for engaging with content, which increases engagement and improves financial literacy. Created “by millennials for millennials, Plinqit helps banks and credit unions connect with this important demographic in a meaningful, relevant way.” The app has reportedly helped users save over $1 million since launching in 2019.
• Pocketnest is a white-labeled comprehensive financial planning tool. Under their own brands, financial institutions are using Pocketnest to guide customers step by step through customized financial planning to-do lists of “actionable recommendations, education and tasks.” Financial institutions reportedly benefit by gaining knowledge of their customers and the right solutions for them.
