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May 11, 2021

Milford Bank expands partnership to offer more apps

IMAGE | Pixabay.com
By Joanna Smiley

Through its partnership with Michigan-based HTMA, a fintech company serving banks and credit unions, The Milford Bank will now offer additional apps to meet the growing digital needs of its customers.

While the bank already offers the company’s Plinqit app, it plans to add two more, Hip Pocket and Banker Jr.

The bank’s current app, Plinquit, which it rolled out in 2019, has saved its customers over $250,000, according to the company’s press release, which also stated that “customers of the bank have embraced the app, and The Milford Bank has consistently grown total Plinqit users month-over-month since its roll-out.”

HipPocket, one of the new apps that will be offered,  works as a cost savings tool for consumers, helping them to evaluate mortgages, auto loans, and retirement products through digital comparison.

Susan Shields, president and CEO of The Milford Bank, said, “ When you help people save money on something like a mortgage, that’s a win-win for everybody. Anytime a community bank can get an edge in that arena, social media, increasing engagement and customer retention, it’s something to be proud of.”

Shields added that her bank has a high-level executive in charge of strategic digital direction, along with a support team that assists  with various projects.

“Social influence is something that banks may or may not be comfortable with, but we are,” she said. “We’ve been doing it for a long time.” 

The bank is also offering the app Banker Jr, which teaches kids how to save and track their money in an interactive format.

Contact Joanna Smiley at Jsmiley@newhavenbiz.com

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