Lake City Bank, an Indiana-based financial institution, has partnered with Spiral, a platform specializing in personalized banking experiences, to launch “SpendSave,” a new digital feature enabling customers to round up debit card purchases for automated savings or charitable contributions.
Lake City Bank’s SpendSave, powered by Spiral’s Roundup Center, integrates directly into the bank’s digital banking platform. This functionality allows customers to automatically direct spare change from everyday debit card transactions towards personal savings goals or to support a range of charitable causes.
Customers have the flexibility to allocate their roundups entirely to savings, or to split them between savings and charitable giving. The platform supports contributions to both community and national nonprofits, as well as local initiatives such as affordable housing, financial education, and community development. Users also receive real-time impact tracking and tax-deductible donation receipts for their charitable contributions.
Stephanie Leniski, Executive Vice President and Chief Retail Banking Officer at Lake City Bank, stated, “Lake City Bank remains focused on offering our customers advanced financial products that promote their economic wellness. With our SpendSave solution powered by Spiral, customers can automatically work toward their financial aspirations, all through their regular debit card purchasing patterns. As a community bank, we’re particularly proud to offer a convenient option for customers to support their favorite charitable causes with this new solution.”
Shawn Melamed, CEO and Co-founder of Spiral, commented on the partnership, “Lake City Bank’s focus on empowering financial wellness and embracing digital transformation for their communities is remarkable. We’re enthusiastic about enabling more banks to enrich their customers’ financial journeys while increasing deposits and strengthening community ties.”
Spiral’s platform is designed for integration with existing digital banking providers and core systems, providing a turnkey solution for financial institutions.
Headquartered in New York City, Spiral is a platform that aims to help banks and credit unions grow deposits and improve customer retention through personalized banking experiences. The company is backed by investors including Team8, Curql, and ICBA.
Lake City Bank, founded in 1872, is a $6.9 billion bank based in Warsaw, Indiana. It operates 55 branch offices across Central and Northern Indiana and maintains a digital banking platform. The bank is the sole subsidiary of Lakeland Financial Corporation.
