Save®, a prominent fintech company, launched a first-of-its-kind savings program called the Market Savings program. The firm announced that it has signed an agreement with Wester Bank N.A., a premier bank in the Northeast that offers a wide berth of financial and digital banking products to individual and commercial customers. The savings account will be made available to Save® customers who opt into the program on the Savetech platform.
We're excited to work with Webster Bank to build an entirely new approach to savings. By adding the Market Savings program to our platform, we're able to better support our customers' financial and savings goals at a time when low rates, high inflation, and market volatility are top of mind." said Michael Nelskyla, Founder and CEO, Save
Save is an SEC-registered investment expert. The firm expects the return potential of the Market Savings program to be higher than the traditional high-yield interest savings account. Customers who opt for the program will have their deposits held in savings accounts at the Webster Bank with an FDIC insurance for the standard maximum deposit insurance.
We look forward to working with Save on this innovative savings product. Save is focused on innovative, digital offerings and has an approach that differentiates Save in the consumer space." Matthew Smith, Executive Managing Director at Webster Bank.
Save is on a mission to change the way people build wealth. Our Savetech platform can fundamentally change how people save." said Adam Watts, President and COO of Save.