4Front Credit Union has launched Plinqit savings app to encourage members to develop saving habits with an incentive and progressive friction.
Created by HT Mobile Apps, Plinqit pays users for learning about personal finances.
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The platform pays users through its patent-pending Build Skills solution for engaging with content related to finances.
Users can watch a video or read an article to gain knowledge on finances and take a short quiz to receive a reward for learning more about financial wellness.
HTMA founder and CEO and Plinqit creator Kathleen Craig said: “By partnering with 4Front Credit Union, we are able to help them better engage with their members and create deeper relationships.
“When we created Plinqit, we wanted it to be more than an attractive digital offering for financial institutions, it needed to help people feel empowered and improve their financial literacy.
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By GlobalData“With a higher than average 55% engagement rate and more than 60% of users continuing to save after they reach their goals, we are doing just that!”
Initially, 4Front planned to create a tool internally, using incentives and progressive friction to engage its members into practising saving habits.
4Front Credit Union strategic innovation SVP Zach Eychaner said: “We wanted to find a tool that would help our members create better financial habits by saying – that’s why we selected Plinqit.
“By expanding our digital offerings to include Plinqit, we can continue to empower members through innovative financial tools.”
4Front Credit Union is a member-owned financial cooperative. It serves more than 81,000 members across the state of Michigan.
