Webster Five Selects Spiral to Empower Community Impact and Engagement Through Everyday Banking
June 04 2024 - 8:43AM
Business Wire
Webster Five adds Spiral to allow customers to
round up their everyday purchases to effortlessly save and support
charitable causes, all while boosting digital donations to local
nonprofits.
Spiral, the award-winning Impact-as-a-Service™ platform for
financial institutions, today announced a partnership with Webster
Five, a leading Massachusetts-based bank renowned for its community
support and personal services. The partnership with Spiral will
enable Webster Five to amplify customer engagement and grow
deposits through new digital experiences. Customers will be able to
turn everyday purchases into savings and community impact and
donate through the newly established online Giving Center.
By integrating Spiral's Everyday Impact™, Webster Five’s
personal and business banking customers will be empowered to round
up their everyday purchases to go toward saving for the future and
supporting their favorite charitable causes, directly benefiting
their communities and nonprofits. In addition, Webster Five’s new
Giving Center will enable customers to easily donate to their
preferred charities directly from their online bank accounts.
Through this innovative Giving Center, customers can create a
tailored portfolio of causes, track their charitable impact, and
receive a donation report for tax purposes.
"We are excited to enrich our customers' digital experiences,
offering easy ways for them to save for their future while making a
positive impact on their local communities," stated Brian McEvoy,
Chief Retail Banking Officer at Webster Five. "With Spiral, we
empower local nonprofits to drive more digital donations for their
important missions while we are helping our customers with their
financial wellness and supporting causes they care about. It’s a
big win-win for us."
By integrating with Spiral, Webster Five will drive awareness
and digital donations directly from the bank’s customer base to
local nonprofits, attract more nonprofit businesses, and create
positive change in their community through fundraising campaigns,
donation matching, and community-wide events.
"Webster Five supports and provides banking services for many
charitable organizations. By highlighting nonprofits through
everyday banking, they can elevate the efforts of their charitable
missions, raise more contributions, and attract new donors," said
Shawn Melamed, CEO and Co-founder of Spiral. "We look forward to
helping more financial institutions help their account holders
reach financial wellness, attract new account holders, and grow
deposits from socially conscious consumers and businesses."
Spiral’s turnkey solutions integrate with leading digital
banking providers and core systems. To learn more about Spiral’s
platform, please contact Spiral here.
About Spiral
Headquartered in New York City, Spiral is the award-winning
Impact-as-a-Service™ platform that enables banks and credit unions
to grow deposits and attract new accounts through financial
wellness and community impact. With Spiral, financial institutions
can positively impact the lives of their account holders and their
communities through any online bank account, debit card, or credit
card. Thus, Spiral makes it simple for financial institutions to
drive positive change and empower millions of customers and
businesses to contribute to a better world.
Spiral is spearheaded by fintech serial entrepreneur Shawn
Melamed, a former Managing Director of Morgan Stanley's Technology
Business Development and Innovation Offices. Their mission-driven
team has deep banking, nonprofit, and fintech expertise, including
Jim Rosenthal, the former COO of Morgan Stanley, who is part of
Spiral's board. Spiral is backed by Team8, Euclidean Capital,
Intuition Fund, Communitas Capital, Phoenix, Nidoco AB, MTVO,
Curql, ICBA, and more. To learn more, visit Spiral.us.
About Webster Five
Established in 1868, Webster Five offers consumers, businesses,
and nonprofits not only a wide range of products and services but
also the stability and community support that can’t be matched by
their larger counterparts. Webster Five supports local
organizations both through corporate sponsorships and through the
Webster Five Foundation. Through their Web of Caring to Make a
Difference program, Webster Five has provided millions of dollars
in charitable contributions to local nonprofit organizations and
programs. To learn more about Webster Five, visit web5.com.
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