Webster Five Selects Spiral to Empower Community Impact and Engagement Through Everyday Banking

June 04, 2024 at 08:43 AM EDT

Webster Five adds Spiral to allow customers to round up their everyday purchases to effortlessly save and support charitable causes, all while boosting digital donations to local nonprofits.

Spiral, the award-winning Impact-as-a-Service™ platform for financial institutions, today announced a partnership with Webster Five, a leading Massachusetts-based bank renowned for its community support and personal services. The partnership with Spiral will enable Webster Five to amplify customer engagement and grow deposits through new digital experiences. Customers will be able to turn everyday purchases into savings and community impact and donate through the newly established online Giving Center.

By integrating Spiral's Everyday Impact™, Webster Five’s personal and business banking customers will be empowered to round up their everyday purchases to go toward saving for the future and supporting their favorite charitable causes, directly benefiting their communities and nonprofits. In addition, Webster Five’s new Giving Center will enable customers to easily donate to their preferred charities directly from their online bank accounts. Through this innovative Giving Center, customers can create a tailored portfolio of causes, track their charitable impact, and receive a donation report for tax purposes.

"We are excited to enrich our customers' digital experiences, offering easy ways for them to save for their future while making a positive impact on their local communities," stated Brian McEvoy, Chief Retail Banking Officer at Webster Five. "With Spiral, we empower local nonprofits to drive more digital donations for their important missions while we are helping our customers with their financial wellness and supporting causes they care about. It’s a big win-win for us."

By integrating with Spiral, Webster Five will drive awareness and digital donations directly from the bank’s customer base to local nonprofits, attract more nonprofit businesses, and create positive change in their community through fundraising campaigns, donation matching, and community-wide events.

"Webster Five supports and provides banking services for many charitable organizations. By highlighting nonprofits through everyday banking, they can elevate the efforts of their charitable missions, raise more contributions, and attract new donors," said Shawn Melamed, CEO and Co-founder of Spiral. "We look forward to helping more financial institutions help their account holders reach financial wellness, attract new account holders, and grow deposits from socially conscious consumers and businesses."

Spiral’s turnkey solutions integrate with leading digital banking providers and core systems. To learn more about Spiral’s platform, please contact Spiral here.

About Spiral

Headquartered in New York City, Spiral is the award-winning Impact-as-a-Service™ platform that enables banks and credit unions to grow deposits and attract new accounts through financial wellness and community impact. With Spiral, financial institutions can positively impact the lives of their account holders and their communities through any online bank account, debit card, or credit card. Thus, Spiral makes it simple for financial institutions to drive positive change and empower millions of customers and businesses to contribute to a better world.

Spiral is spearheaded by fintech serial 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, Curql, ICBA, and more. To learn more, visit Spiral.us.

About Webster Five

Established in 1868, Webster Five offers consumers, businesses, and nonprofits not only a wide range of products and services but also the stability and community support that can’t be matched by their larger counterparts. Webster Five supports local organizations both through corporate sponsorships and through the Webster Five Foundation. Through their Web of Caring to Make a Difference program, Webster Five has provided millions of dollars in charitable contributions to local nonprofit organizations and programs. To learn more about Webster Five, visit web5.com.