(MENAFN Editorial) Community Banks Brand and Distribute High Demand Apps to Consumers. New Revenue Model for App Vendors. Community Banks can now compete with Big Banks and Win.
San Francisco, CA, March 08, 2017 Linqto, a leading Silicon Valley-based software firm that has created award-winning high-demand banking, video chat and business software since 2008, in partnership with Western Independent Bankers (WIB) have launched their new and cutting-edge WIB App Store for banks. This next-level platform offers a wide variety of high-demand lifestyle Fintech apps for member banks to rebrand and distribute to customers. In addition, the one-of-a-kind storefront supports a new revenue-generating system as vendors increase adoption and monetize their apps. With the WIB App Store, community banks can now compete with big banks by offering innovative technology to their market at a fraction of the typical industry cost quickly and easily. Now, community banks can attract new markets, develop existing customers and advertise their bank utilizing mobile device screens.
Check out the short informative video on: http://www.linqto.com/Linqto.aspx.
Why a WIB App Store is important
Typically, millennials do not visit a bank branch and instead discover banks using their phones. Large banks are responding. BBVA has 24 apps on the Apple Store. USBank has 43. Community banks and credit unions can only afford one app, their mobile banking app. Discoverability by non-customers is impossible since the user must be an existing customer to access the app. Linqto provides the delivery of new Fintech software as a service. The Linqto Platform creates a revolutionary new marketplace where banks can brand new software and use it with their customers. Automatically. In an online store. Community banks and credit unions can now afford to compete with the largest banks by providing customers the latest financial technology.
To meet growing consumer demand for progressive smartphone and app offerings, big banks have invested substantial resources in creating their own financial lifestyle apps, leading to increased sales and improved customer satisfaction. Community banks, however, have been marginalized by development costs resulting in an inability to disrupt the market stronghold.
Now, with this new platform offered by Western Independent Bankers, member banks can compete and win with customized applications designed to appeal to a multitude of demographics. "Western Independent Bankers has a recognizable name and large footprint with community banks," said Bill Sarris, CEO of Linqto. "Via this strategic partnership with WIB and WIB Service Corporation, more than 800 community banks will have "storefront" access to the latest Fintech apps. We can bring brand loyalty and market share to these banks through the Linqto Platform."
Linqto will deliver the WIB App Store through its automated delivery platform. The Linqto Software Delivery Platform allows financial institutions to choose the latest high-demand Fintech apps from a digital storefront and within minutes, the app is uniquely branded with the bank's name and logo. That app is then immediately available for internal bank testing and, upon completion, is automatically distributed to the major app stores, Apple and Google. With a process that is expeditious and fully automated, the WIB App Store also offers a collection of non-Fintech lifestyle apps that are rapidly gaining popularity with the millennial generation.
"All of our banks want to appeal to the digital generation and develop customer loyalty through service and innovation," said WIB President & CEO Michael Delucchi. "By using the WIB App Store, banks can now transform the customer experience without the white-label and branding costs that have traditionally kept them confined to the standard banking transaction app. There is a framework of opportunity here, and we're excited to see our members take advantage of it."
Wendy Brickman (831) 594-1500 or
Marci Bracco (831) 747-7455 or
Bill Sarris, CEO, Linqto, 831-521-3605
Linqto is a Silicon Valley based software company specializing in enterprise solutions for banking and new Fintech applications. Linqtos engineers specialize in financial software; at Intuit working on Mint and Quickbooks and at NCR building ACH, wire transfer and bill pay systems. American Banker named Linqto one of the Top Ten Tech Companies to Watch. Linqto received the Top Award in the Monarch Innovation Awards, in previous years awarded to Chase. Wells Fargo, City and Bank of America. For more information www.linqto.com.
About Western Independent Bankers and WIB Service Corporation
For eighty years, Western Independent Bankers (WIB) has been the premier networking and educational organization for community banks across the Western United States. With over 22,000 members from 140 financial institutions, WIB advances a landscape of learning designed to inform, educate, and connect industry professionals with the resources and services necessary for maximum personal and organizational performance. WIB Service Corporation, a wholly owned subsidiary of WIB, conducts a strenuous selection process before putting the stamp of approval on an elite group of products and services that meet the highest industry standards and help WIB member banks to reduce costs, operate more efficiently, and compete more effectively. For more information, visit www.wib.org.
To schedule an interview with Bill Sarris, CEO of Linqto, call Wendy Brickman at (831) 594-1500 or email .