Backed by the stability and security of Massachusetts-based PeoplesBank, ZYNLO Bank will only be available in this market and one other
ZYNLO Bank (ZYNLO), a digital-only startup powered by PeoplesBank, has launched in Anchorage, Alaska. As a comprehensive digital bank offering, ZYNLO provides a wide range of online and mobile banking, P2P, and mobile pay service, as well as a 24/7 call center. It also offers security as all deposits are insured in full through FDIC and DIF. PeoplesBank is a mutually chartered bank, based in Holyoke, Massachusetts, that is known for its corporate values of innovation and environmental sustainability.
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“Our assessments indicated that a digital bank offering, backed by the security of a community bank, would be an advantage to consumers in Anchorage,” explained Tom Senecal, President and CEO of PeoplesBank. “We are also a bank that values environmental sustainability, having built three LEED-certified banking centers. Digital banking is probably the most environmentally friendly banking solution that we have been able to offer to date.”
Mr. Senecal noted that several factors stood out that made Anchorage an ideal digital banking launch market, including its significant levels of higher education as well as a median age of 33.2, which means a significant portion of its population is theoretically predisposed to digital banking.
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A fee-free account, ZYNLO features Zyng, a benefit that rounds up debit card purchases to the nearest dollar and deposits the difference into the customer’s savings account. ZYNLO is also matching those roundups 100% for the first 100 days, and then 10% after that for an added savings boost.
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