- Customer engagement innovator Larky has teamed up with Wisconsin-based Forward Bank.
- Courtesy of the partnership, Forward Bank has integrated Larky’s nudge push notifications into its banking app.
- Nudge provides personalized, timely push notifications and can increase customer engagement by 7x compared to traditional marketing methods.
Larky, a fintech that specializes in helping banks and other financial institutions better engage with their customers and members, has partnered with Wisconsin-based Forward Bank. The institution has deployed Larky’s nudge solution, which delivers personalized, timely push notifications to account holders. The technology is integrated into the FI’s existing mobile banking app and Forward Bank plans to use nudge for a variety of use cases including post-visit surveys, geofenced event announcements, and on-site financial service recommendations, as well as thank you messages to account holders after they opt in to receive nudge notifications. The goal is to help Forward Bank better anticipate customer needs, preferences, and behavior.
“Previously, we reached our account holders through email and direct mail, which presented challenges with timeliness,” Forward Bank VP and Marketing Director Jennifer Sobotta said. “By now delivering nudge notifications that reach account holders more quickly with relevant messages, we hope to strengthen our commitment to them as a trusted financial resource and ultimately strengthen our long-term customer relationships.”
A customer-owned, independent community bank, Forward Bank serves communities in central Wisconsin and nearby areas. Founded in 1919 and headquartered in Marshfield, Forward Bank has more than $930 million in assets and is a major supporter of local businesses, schools, clubs, and sports organizations.
Headquartered in Ann Arbor, Michigan, Larky made its Finovate debut at FinovateFall 2014 in New York. Founded in 2012, Larky enables financial institutions to better engage their customers by leveraging push notifications as a sophisticated marketing tool to promote products and services, popularize financial literacy and financial wellness initiatives, and important branch information and updates. The company says its technology can help financial institutions boost mobile app engagement and generate revenue growth via an engagement rate that is 7x better than traditional marketing strategies.
Larky closed out 2022 with a new partnership announcement, teaming up with Gerber Federal Credit Union to enhance the Michigan-based credit unions digital customer communications. Also last year, Larky announced that its nudge technology has been added to Finastra’s mobile banking platform.
“This collaboration signifies a momentum step forward and reinforces our belief that push notifications are not optional, but rather an integral must-have for financial institutions seeking to successfully compete in today’s digital age and enhance customer engagement,” Larky CEO Gregg Hammerman said when the Finastra integration was announced.
Larky has raised $2.4 million in funding according to Crunchbase. The company’s investors include Michigan Angel Fund and North Coast Technology Investors.
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- Source: https://finovate.com/forward-bank-turns-to-larky-to-drive-personalization/
