Radius Bank partners with Harvest Savings & Wealth Technologies to launch Goalkeeper

By Pavithra R

Radius Bank, a forward-thinking virtual bank offering a full complement of leading-edge personal and business products and services has announced the launch of Goalkeeper, an automated goal based savings platform integrated within Radius Bank’s online and mobile banking channels.

The Goalkeeper is launched in partnership with Harvest Savings & Wealth Technologies, a leading FinTech solution provider. It allows clients to set and automatically fund any financial goal, helping customers take control of their financial health.

Within Radius’ digital banking platforms, customers can use Goalkeeper to create goals, customise them with name and a picture, set target amounts, and then select an automated savings method. It then helps build customer savings automatically using periodic deposits or a proprietary algorithm designed to find untapped dollars for saving.

“The popularity of savings apps have helped consumers do a better job of reaching their financial goals, but these apps oftentimes only serve a limited purpose, thus requiring users to scan multiple apps in order to get a full picture of their finances often at a cost. Integrating Harvest’s technology directly into our digital suite lets our customers get a holistic view of their overall financial wellness, all in one, easy-to-navigate platform at no charge,” said Mike Butler, President and CEO of Radius Bank.

With an increased demand for FinTech savings apps, Radius recognised their customers interest in automated saving programs and aimed to provide a product that would help their customers fulfil their financial goals without leaving the Radius Bank app.

“As the number of consumers using fintech savings tools continues to grow, money will continue to leave banks. Goalkeeper allows banks to effectively combat micro-savings startups, retaining critical deposits, while gaining valuable insight into what their customers are saving for. As a bank industry innovator, Radius Bank saw the opportunity to quickly bring the solution to market, leveraging the power of their mobile banking app, which is already installed on tens of thousands of Radius Bank customer phones,” said Drew Sievers, CEO of Harvest Savings & Wealth Technologies.

The launch of Harvest’s Goalkeeper and its addition to the bank’s digital suite is expected to help customers continue improving their financial wellness and attain better money management skills.

Founded in1987, Radius offers branchless digital banking platform that combines technology and checking and savings account features for consumers and small businesses. It has over $1.4 billion in diversified assets. The firm was acquired by LendingClub in February this year.