Radius Bank Partners with Stackin’ to Power New Checking Account
Virtual bank offering money management capabilities to all platform users through Stackin’ Cash
BOSTON – August 6, 2019
Radius Bank, an industry-leading virtual bank, today announced a new partnership with Stackin’, a text message-based financial wellness platform that helps users learn, save and invest. Through the partnership, Stackin’ will offer users a Radius-powered checking account, Stackin’ Cash, as a free personal high-interest checking account. This announcement furthers Radius Bank’s mission to strategically partner with fintechs to improve the way consumers bank and manage their money.
Founded in 2017, Stackin’ uses intelligent text messaging to help millennials find ways to improve their finances and grow their hard-earned money. Stackin’ Cash is the latest in a line of deposit products powered by Radius Bank and offered by its strategic partners, utilizing the Bank’s API technology created in partnership with Treasury Prime.
WithStackin’ Cash, consumers will enjoy 1.00% APY on the entire deposit balance, free ATMs worldwide, and no monthly maintenance fees.1 The account can be easily managed from the Stackin’ website and text message service, as well as from Radius Bank’s website and mobile banking app.
“We are thrilled to be partnering with Stackin’ to offer our advanced, technology-backed banking services to the millennial audience,” said Mike Butler, President and CEO of Radius Bank. “The complicated nuances of money management can make financial literacy seem daunting. Radius and Stackin’ share the goal of simplifying it for everyone.”
Radius Bank will be the first bank account API integration that Stackin’ has enabled its users. This partnership gives millennials both Stackin’s financial and money management information needed to bank strategically, and Radius Bank’s best-in-class digital checking account product to bank easily and conveniently.
“Partnering with Radius is a natural fit given our mutual goals to help the next generation not only understand their finances, but manage them with confidence and ease,” said Kyle Arbaugh, President & Co-Founder of Stackin’. “We can’t wait for our customers to experience a best-in-class banking option, thanks to Radius.”
To learn more about the Stackin’ Cash account, visit www.startstackin.com.
To learn more about partnership opportunities at Radius Bank, visit https://radiusbank.com/company/partnerships/.
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.
Stackin’, one of the fastest growing consumer finance brands in the U.S., simplifies its users financial lives, offering education, guidance and access to helpful products all via text message. The Company serves a growing generation of under-served young consumers who face significant financial challenges. Its personalization engine makes financial wellness as easy as texting friends with features such as spending analysis, savings reminders, stock alerts and the ability to start investing in a low-cost, diversified portfolio with as little as $5. The Company is backed by leading venture and strategic investors such as Experian, Social Leverage, Dig Ventures, Cherry Tree Investments, Wavemaker and Mucker Capital. Based in Los Angeles, Stackin’ was launched in April 2017 by consumer technology veterans, Scott Grimes and Kyle Arbaugh. For more information visit www.startstackin.com.
Advisory products and services are offered through Stackin Financial LLC, an SEC registered investment advisor. DriveWealth LLC, a third-party SEC registered broker-dealer and member FINRA/SIPC, provides clearing and execution services and serves as qualified custodian for advisory assets of Stackin’ Clients. Products offered through Stackin Financial LLC are Not FDIC Insured, Not Bank Guaranteed, and May Lose Value. See our disclosures page for more information.
1] Annual Percentage Yield (APY) accurate as of 10/19/2019. Minimum amount to open a Stackin’ Cash account is $100.00. Rate of 1.00% applies to the entire account balance. Rates may change after account is opened. Fees may reduce earnings. FDIC-insured up to at least $250,000 per depositor.