Radius Bank Expands Marketplace with the Addition of Life Insurance Through Ladder
New collaboration allows customers to apply for life insurance directly through the Radius mobile app and online banking platform
BOSTON – August 15, 2019
Radius Bank, a forward-thinking online bank, announced today the expansion of its digital marketplace to include life insurance offerings through Ladder. The integration allows Radius’ personal banking clients to apply for and, if eligible, obtain a life insurance policy in a matter of minutes. This new partnership with Ladder is the latest example of the Bank’s vision to create a marketplace of curated and innovative personal finance offerings catered to the needs of today’s consumers.
Millions of Americans start the process of buying life insurance but never finish because of outdated, time-consuming and confusing processes. Ladder has changed that by redesigning the purchasing process with an easy online application for instant decision making. Customers can get a free, instant quote online and, if qualified, choose to receive immediate coverage. And because a person’s needs change over time, Ladder has built a product that is flexible and can be adjusted at any time, all online.
“We first introduced our Marketplace in October 2018 when we upgraded our mobile app and online banking platform with the goal to provide our clients one central place to find best-in-class financial products,” said Radius Bank President and CEO, Mike Butler. “We are the first FDIC-insured financial institution to bring the benefits of Ladder to consumers and are thrilled to partner with a company that is leading the charge in revolutionizing the insurance industry.”
Clients can apply for life insurance with Ladder through Radius Online Banking, the Radius Mobile app or from Radius’website. They will then answer a few simple questions within the Radius Bank platform to determine their eligibility, desired coverage amount and length of coverage. Upon completing the application, clients will immediately receive an eligibility decision from Ladder.
“Radius is staying ahead of the curve when it comes to understanding what customers need and, more importantly, want for their financial well-being,” said Ladder Co-Founder, Jeff Merkel. “We are excited to help ensure their customers are covered when they hit major financial and personal milestones like owning a home and starting a family.”
About Radius Bank
With assets of approximately $1.4 billion, Radius Bank is a forward-thinking online bank committed to providing a full complement of accounts and services to meet the banking needs of consumers and businesses nationwide. Radius provides the product depth of a national brand, the technology of a fintech, and the personalized attention typically reserved for a local bank to consumers, small and middle market businesses, unions, government entities and non-profit organizations. The Bank’s award-winning digital banking platform allows consumer clients to bank from anywhere with a computer or mobile device and provides convenient features such as check deposit, bill pay, card management, and a personal financial management dashboard. Business clients enjoy a wide array of award-winning deposit products, advanced treasury management services, and loan and payment solutions. In addition, Radius’ suite of open APIs deliver a robust banking-as-a-service (Baas) platform for fintechs to quickly access core banking features and build best-in-class financial solutions. Radius specializes in partnering with forward-thinking fintechs to provide white-label deposit products, cards, digital onboarding, and account management. Radius Bank is a member of the Federal Deposit Insurance Corporation and is an Equal Housing/Equal Opportunity Lender. For further information, visit the Bank’s website at radiusbank.com, or follow the Bank on Twitter, LinkedIn, Facebook, and Instagram.
Ladder has reinvented life insurance to offer instant, fully underwritten term policies online. With stellar prices, no hidden fees, and the flexibility to adjust or cancel your coverage anytime, Ladder is on a mission to fuel the resilience of underinsured families and communities by closing the $16T life insurance gap. Founded in 2015, Ladder leverages AI and a direct-to-consumer, full-stack approach to make life insurance as fair and accessible as it can be. Visit ladderlife.com to learn more.