ANN ARBOR, Mich., Dec. 17, 2024 —Plinqit is proud to announce a record year of growth driven by its latest product, High Yield Savings by Plinqit. This innovative, white-label digital savings solution has enabled financial institutions nationwide to acquire new deposits while providing an accessible, high-value savings option for consumers.
Since its launch, High Yield Savings by Plinqit has generated over $2 billion in deposits. Notably, nearly half (46%) of these deposits are sourced from some of the largest banks in the country, including Chase, Bank of America, Wells Fargo, and Capital One. On average, Plinqit depositors maintain a balance of more than $40,000, demonstrating the platform’s strong appeal among savers.
“With strong results and growing adoption, Plinqit is well-positioned to revolutionize the deposit landscape, providing a data-driven approach to savings that meets the expectations of consumers and financial institutions alike.”
Plinqit’s High Yield Savings product is attracting a valuable demographic, with 58% of depositors under the age of 50 and 38% under 40. Additionally, nearly half of depositors report household incomes ranging from $100,000 to $249,999 while nearly one-third have household incomes ranging from $50,000 to $99,000, underscoring the broad appeal of Plinqit’s high-yield savings options across various income levels. Once linked to their accounts, an impressive 94% of depositors choose to fund their accounts, while 72% of all registrants activate their savings by funding their accounts.
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