Stearns Bank is partnering with Zogo Finance, a financial technology company, to offer all-age financial education tools through Zogo’s mobile app. Through the partnership, the two companies will further their shared mission to boost financial literacy and promote financial wellbeing by increasing access to financial education modules, including “gamified” learning tools.
By teaming with Stearns Bank, Zogo continues to build momentum, underscoring the appetite for Zogo’s offering, particularly in the wake of an economic shock that has exposed the grave need for financial resilience and preparedness. Now a partner to financial institutions in all 50 U.S. states, Zogo offers learning modules that seek to make financial literacy education fun, simple and social. Its app-based solution helps young adults enhance their understanding of key financial concepts while simultaneously enabling banks and credit unions to better engage this customer segment.
As one of Zogo’s newest partners, Stearns Bank, which has more than 35,000 business customers with mobile access to its mobile deposit services and equipment finance and small business loan programs, will offer through its app and mobile banking platform, also known as StearnsConnect, more than 300 co-branded financial literacy modules released by Zogo that explore key concepts such as saving for retirement, using credit responsibly and creating a budget. This educational content, approved by financial professionals, was developed by Zogo’s Gen Z and millennial team members to reflect younger generations’ predilection for technology-aided microlearning. As users progress through each module, which are designed to take roughly two minutes each, they also will accrue points that can be redeemed for gift cards from retailers such as Amazon or Starbucks.
“Stearns Bank is driven by a passion for helping others achieve their greatest ambitions, and we believe that financial education is foundational to this core mission,” Kelly Skalicky, president and CEO of Stearns Bank, said. “Through this partnership with Zogo, we look forward to helping our valued customers acquire the money management skills they need to reach their personal and financial goals. We’re confident that Zogo’s rewarding, gamified approach to financial literacy will prove appealing and valuable to individuals of all ages.”
“We were particularly impressed by the maturity of Zogo’s solution and the ease with which it integrates into our electronic banking platform,” Josh Hofer, chief risk and information security officer at Stearns Bank, said. “As a forward-looking financial institution, we are always on the lookout for robust tools that will enable us to better serve our customers and help them thrive, and Zogo’s modern and accessible approach is particularly compelling.”
“We’re on a mission to promote financial wellbeing and are thrilled that so many financial institutions have taken up the charge alongside us,” Bolun Li, founder and CEO of Zogo Finance, said. “Banks and credit unions are uniquely positioned to assume a leadership role when it comes to boosting financial literacy in their communities, deepening their relationships with customers in the process.”
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