The Financial Spark announced it is now offering online and people-based services that will allow smaller banks and credit unions better compete with larger financial institutions.
The Wilmington-based company has developed a proprietary platform, BankFlow, which gives banks of all sizes access to information that would otherwise be cost prohibitive, according to a release. “We built BankFlow to intuitively deliver the information most important to banks,” says Brad Miller, CEO and co-founder of The Financial Spark. “It’s highly customizable and allows us to deliver a very detailed look at what a particular bank’s competitors are up to.”
The company is comprised of financial services, veterans from INGDirect, now Capital One, Wilmington Trust and other companies.
“It’s highly customizable and allows us to deliver a very detailed look at what a particular bank’s competitors are up to
Today’s retail banking market is more complex and competitive than ever. The average household maintains relationships with four full-service financial institutions. “The consumer is at the hub of all of that marketing, and the typical bank is out on a spoke with little knowledge of exactly what that consumer is seeing,” Miller said in announcing the services.
BankFlow is described as a proprietary platform combining a customized online dashboard with a dedicated financial services industry representative. The services include bank rate monitoring, market research tool, web tracking.
While the first set of services are focused on customized research and insight, its next wave, already in development, will give banks the tools to capitalize on that information by way of marketing, compliance and rate management solutions.
“Innovation is no longer about fancy card art or adding extra rewards points,” says Miller. “It’s about re-engineering how banks engage and service their customers. All banks, big and small, possess the potential to do so. They just need the right tools and insight. The Financial Spark’s mission is to be the partner that makes it happen.”
The Financial Spark also provides advertising management, and customized solutions including mobile banking application development on iOS, Android and Windows devices.
