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Top banking and fintech news outlet features Pocketnest in its emerging fintech directory
Wealth management fintech Pocketnest digitizes financial wellness for financial institutions.
The Detroit, Mich.-based startup is one of the newest additions to Bank Automation News’ Emerging Fintech Directory, a compilation of fintechs in the financial services sector.
Founded in 2019, Pocketnest’s flagship offering is a white-label financial wellness platform for banks and credit unions, with clients including $4 billion MSU Federal Credit Union, $896 million 4Front Credit Union and $410 million First Independence Bank. Pocketnest’s approach to wealth management uses behavioral sciences and psychology, which Jessica Willis, founder and chief executive officer at Pocketnest, called an alternative to roboadvisors.
The automation and financial technology boom of the past decade created a gap between younger consumers and their banks, Willis told BAN.
“This evolution has been incredible, but it leaves major gaps for the largest underserved demographic—millennials and Generation X,” Willis said. “It also leaves financial institutions scrambling to create real connections with their communities that have high demands for innovation, customization and tech.”
Pocketnest raised $2 million in a January seed round, according to Crunchbase.
This story originally appeared on Bank Automation News' website.
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