Spiral, a fintech focused on digital banking, has introduced a new Savings Center designed for banks and credit unions. This offering aims to help financial institutions grow and retain deposits, cross-sell loans, and enable account holders to save automatically, build financial habits, and achieve financial goals.
Many Americans continue to face challenges with personal savings, with the average personal savings rate remaining under 4%. A 2024 Forbes survey indicated that one in four Americans has less than $1,000 in savings, and the 2025 Bankrate Savings Report found that 19% of Americans lack any emergency savings. Concurrently, financial institutions are under pressure to differentiate themselves, increase deposits, improve primacy, and deepen savings and loan relationships.
Mary Mrozinski, Chief Brand & Digital Officer at West Shore Bank, stated, “Our customers have been looking for easier ways to save — and the Savings Center delivers. It’s intuitive, effective, and built for the way people manage their money today. We’re proud to offer solutions that make financial wellness more accessible in the communities we serve.” Brandon Gaffney, SVP/Marketing Director at Regent Bank, added, “Spiral’s Savings Center will help us stand out in a crowded digital market. It’s a key part of our long-term strategy to grow deposits and deepen engagement in the communities we serve. We’re excited to lead the way with experiences that truly put our customers first.”
Spiral’s Savings Center provides an alternative to high-yield CD offerings, which often incur high acquisition costs for short-term deposits. The new solution is designed to enhance the digital experience by offering automated savings tools intended to increase deposits and growth at a low cost. The center provides gamified and automated savings options, including auto-savings, round-up savings, and personalized goal tracking.
Simon Griffiths, President and CEO at Camden National Bank, commented, “With Spiral, our customers will be empowered to save effortlessly for their life goals, such as buying a home, taking a vacation, or saving for a car. We’re making it easier for customers to reach their financial goals, find new ways to grow their savings, and support their communities through everyday banking.”
The Savings Center has seen rapid adoption among U.
S. financial institutions. Spiral facilitates fast and seamless integration, embedding the Savings Center directly into existing digital banking applications for over 2,000 financial institutions. Within 3 to 6 months of launch, up to 15% of a financial institution’s users reportedly engage with Spiral daily. Data indicates that within 90 days of enrollment, account holders show an average of up to a 16% increase in monthly deposits, a 31% boost in card transaction volume, and a 15% increase in digital engagement.
Shawn Melamed, CEO and Co-founder of Spiral, noted, “As people look for easier ways to save money, community financial institutions are losing deposits to mega banks and fintech companies. This is an exciting milestone on our journey to empowering more financial institutions to become the primary choice for savings, cards, loans, and giving.”
Spiral, headquartered in New York City, focuses on helping financial institutions grow deposits, retention, and accounts through personalized banking experiences. The platform currently powers millions of transactions nationwide.
