Quontic Bank Selects Spiral’s Platform to Amplify Community Impact Nationwide

August 03, 2023 at 07:41 AM EDT

Quontic will leverage Spiral’s platform to streamline donations and launch an innovative digital Impact Center that allows customers to view and track its environmental and community impact.

Spiral, the Impact-as-a-Service™ platform for financial institutions, today announced a partnership with Quontic Bank, an innovative, digital-first, and customer-centric bank with a strong customer focus and a mission to change the banking landscape.

Together, they are launching a digital Community Impact Center for Quontic —an online portal that provides transparent visibility into Quontic Bank's philanthropic activities and their significant contributions to society. The partnership enables Quontic Bank to impact communities nationwide and give back in the form of meals for children, nights under a safe roof for people in need, and trees for a greener planet.

By leveraging Spiral's customizable platform, Quontic's customers can instantly understand the bank's community and environmental impact. The Impact Center will provide visitors with tangible impact and names of charities, allowing them to monitor and measure the positive changes that Quontic contributes to society, fostering a culture of purpose-driven action. Spiral seamlessly handles all the required underlying back-office operations, donation processing, compliance, and technical integrations with charities as part of the partnership.

"We are delighted to embark on this partnership with Spiral," said Robert Russell, President of Quontic Bank. "Spiral's offering aligns perfectly with our value and mission of social good and giving back. Transparency is a key component of our mission, and our new Impact Center will enable us to showcase our community impact efforts and drive positive change on a larger scale by making an impact on our community and nationwide."

The partnership between Spiral and Quontic Bank marks a significant step forward in leveraging technology for social and environmental impact. Together, they strive to revolutionize how financial institutions connect with communities and drive positive change on a broader scale while encouraging greater understanding, engagement, and participation in community development initiatives.

"We are delighted to partner with Quontic Bank to amplify their community impact," said Shawn Melamed, CEO and Co-founder at Spiral. "Our technology and vast nonprofit giving network enables banks and credit unions to simplify donation processes and measure and visualize the impact of their actions, empowering them to make more meaningful contributions to their communities and engage customers and businesses through impact."

To learn more about Quontic’s Digital Community Impact Center, please click here.

About Spiral

Headquartered in NYC, Spiral is the award-winning Impact-as-a-Service™ platform that enables banks, credit unions, and financial institutions to grow deposits and increase engagement through community and environmental impact.

Spiral makes it simple for financial institutions to drive positive change, strengthen their bond with the communities they serve, and empower millions of customers and businesses to contribute to a better world. With Spiral, financial institutions can easily embed community impact and sustainability into any bank account, debit card, or credit card to amplify their community impact and increase engagement and revenue.

Spiral is spearheaded by fintech visionary entrepreneur Shawn Melamed, a former Managing Director of Morgan Stanley's Technology Business Development and Innovation Offices. Their mission-driven team has deep banking, nonprofit, and fintech expertise, including Jim Rosenthal, the former COO of Morgan Stanley, who is part of Spiral's board. Spiral is backed by Team8, Euclidean Capital, Intuition Fund, Communitas Capital, Phoenix, Nidoco AB, MTVO, and more.

To learn more, please contact Spiral here

About Quontic Bank

Quontic is the adaptive digital bank that empowers its customers financially while embracing their diverse circumstances. Quontic’s disruptive banking platform reimagines traditional banking with adaptive lending and innovative deposit products that transcend legacy banking inequities. Quontic’s mission to break the system for financial empowerment stands in the face of big banks and proves there is a better and more equitable way to put the customer first. The bank focuses on truly understanding and serving the underdogs, entrepreneurs, gig-economy workers, immigrants, and more with a curated banking experience as opposed to a one-size-fits-all banking approach. Quontic is a privately held company based in New York, New York. Follow and connect with Quontic on LinkedIn, Facebook, and Instagram.