In response to continued demand for better consumer engagement tools for the digital channel, Pulsate, provider of mobile-first engagement solutions that deepen digital banking relationships and cut through noise in consumers’ moments of need, announced it has raised $7.75 million in Series A funding, led by TruStage Ventures and Curql Collective.
The majority of consumers have followed the shift from traditional branch to mobile banking with only 10% of still preferring to regularly bank in-person. The challenge for credit unions and community banks lies in delivering greater levels of convenience to the majority of their account holders via the digital channel without sacrificing the quality of the relationships with those customers and members. In today’s competitive banking landscape, community financial institutions must be able to respond to dynamic market fluctuations while driving meaningful deposit growth through targeted communication by reaching the right people at the right time, regardless of location or channel.
“Offering personalized banking experiences will continue to be a key differentiator for community financial institutions,” said Sam Das, managing director of TruStage Ventures. “Customers expect institutions to be there at their moment of need, which is why mobile engagement platforms are important. By further investing in Pulsate, we are empowering them to help even more banks and credit unions serve their customers better and strengthen their relationships.”
Also Read: Socure Drives Fintech Innovation with Banking-as-a-Service Insights and Controls
Pulsate’s mobile-first engagement solution allows community FIs to ensure they are providing personalized, timely and relevant outreach to their members and customers in their time of need, deepening those banking relationships while positioning themselves as their account holders’ primary institution. This will be especially relevant in financial institutions’ ongoing efforts to attract and retain deposits as they leverage data-driven, personalized engagement with customers via digital channels.
“It’s no surprise that credit union members have high expectations when it comes to their digital banking experience,” said Nick Evens, President and CEO of Curql Collective. “They desire customized and responsive tools similar to other digital channels they interact with daily. Pulsate’s solutions empower credit unions to meet their members’ needs and adapt their communications to elevate member relationships in an efficient and scalable manner.”
Pulsate has experienced rapid growth and rising demand throughout the last year. The company plans to use this round of funding to further accelerate this growth trajectory, support expansion of staff and resources, and continue its goal of empowering community FIs to cut through the digital clutter and communicate more effectively and meaningfully with their members and customers in their moment of need, boosting loyalty and retention.
“We are thrilled by the support from investors like TruStage Ventures and Curql who are committed to supporting our industry and share our vision for enhancing the future of digital engagement for community financial institutions,” said Sarah Martin, CEO of Pulsate. “This not only validates the strength of our platform, but also further accelerates our mission to transform the way financial institutions build and foster meaningful relationships with consumers in the digital realm. With this investment, Pulsate is poised to lead the charge in revolutionizing relationship banking, ensuring a seamless and personalized experience for consumers across the digital landscape.”
SOURCE: Businesswire