Texas Capital has launched a new digital bank that offers miles instead of interest to target people who frequently fly.
The bank has partnered with American Airlines to offer customers of the new digital bank earn air miles.
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Dubbed Bask Bank, the digital savings account offers customers American Airlines AAdvantage miles instead of interest.
Texas Capital Bank president and CEO Keith Cargill said: “This new digital bank is the next step in Texas Capital Bank’s on-going strategy to meet customer needs.
“The digital nature of Bask Bank will bridge the gap between physical and virtual banking to deliver a premier user experience beyond mere transactions by giving savers memorable and tangible benefits for their deposits.”
The no fees and no minimum balance offering incentivises saving as it offers customers rewards for saving, not spending.
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By GlobalDataTexas Capital Bank has named Matt Quale as president of Bask Bank. He previously served at Brighthouse Financial as chief marketing officer.
Quale said: “It’s a bold new platform – a stronger option for savers who aren’t getting much out of a traditional savings account. Bask Bank helps you enjoy more of life’s experiences today, while still saving for the future.
AAdvantage program president Bridget Blaise-Shamai said: “We take pride in creating opportunities for AAdvantage members to earn miles through their everyday activities.
“Collaborating with Bask Bank gives our customers a new way to easily earn miles toward their travel dreams while still tracking toward their financial goals.”
