Kinecta Federal Credit Union Brings Wealthtech to Members

Written by: American Banker

The $6.8 billion-asset institution partnered with FusionIQ to launch digitally advised and self-directed investment platforms as part of a push to attract and retain younger generations of consumers.

“All institutions are competing to become the primary financial institution for new and existing customers, [and] a platform that provides digital investing for all members makes the institution more attractive,” McNeely said. “As an offensive move, this platform would be considered a sticky product, strengthening the retention of banking customers.” The wealthtech offering could become a source of fee revenue for the credit union as well.
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