USB selected FIS, a global leader in financial services technology to launch the new mobile tool for customers.
Danbury, CT (December 1, 2021) – “USB Spending Insights,” a new AI-powered mobile app tool that enables customers to track spending and better manage their finances, is now available from Union Savings Bank (USB), announced Peter Scotch, SVP, Director of USB’s Innovation Center. Powered by the FIS Digital One Financial Wellness suite, the mobile tool is accessed through the USB mobile banking app and is free to bank customers that have a USB personal checking account.
“With consumers facing higher costs recently, USB Spending Insights comes at a critical time as people attempt to keep a particularly close eye on their expenses and identify ways to save,” said Scotch. “We’re proud to be at the forefront of this technology in the community banking space while teaming with FIS.”
USB Spending Insights offers more than 50 different data points about a consumer’s finances. With a simple swipe, customers can see their spending trends. This tool enables individuals to set budgets, learn about spending habits, and track spending trends on such things as food, gas, restaurants, entertainment, and subscriptions. USB Spending Insights analyzes accounts, predicts how much money users will have and suggests actions that can be taken to gain control of finances.
“We’re excited to be partnering with Union Savings Bank, an innovative community bank that puts their customers first, on the launch of this important consumer financial tool,” said Maria Schuld, Division Executive, Americas Banking Solutions at FIS. “USB Spending Insights is a manifestation of the FIS commitment to advance the digital banking experience, as it provides a solution to address the challenges that consumers face when managing their overall spending and budgets.”
For existing customers that have the USB mobile app and a USB personal checking account, USB Spending Insights becomes an automatic feature. Current customers that don’t have the USB app will need to download it to gain access to this tool. New customers simply need to open a USB personal checking account and download the USB app from the app store.
Scotch added that for new customers, insights will be available right away, but even more value will be gained over time as the tool learns the users’ spending habits.
Scotch explained that USB Spending Insights is yet another example of how USB is using the latest technology to benefit customers in their daily lives. “This capability is the latest in a series of smart products that Union Savings Bank has introduced, all designed to improve the customer experience, which is part of our mission.” Other digital services include contactless debit cards, instant issuance of debit cards in branch offices, Apple Pay instant issuance, advanced debit card controls, USB Voice ID, and Early Payday.
About Union Savings Bank
Established in 1866 and headquartered in Danbury, Conn., Union Savings Bank is a $3.0 billion mutual bank dedicated to being the bank of choice. As a full-service financial institution, Union Savings Bank provides banking, mortgage, investment, trust and insurance products throughout western Connecticut with 25 offices in Bethel, Brookfield, Canton, Danbury, Goshen, Kent, Litchfield, Marble Dale, Monroe, New Fairfield, New Milford, Newtown, Ridgefield, Roxbury, Southbury, Torrington and Washington Depot. The bank provides financial services to individuals, businesses, not-for-profit organizations, and government entities through its commercial, residential and consumer lending, corporate services, retail banking and wealth management divisions. Please visit www.unionsavings.com for more information. Member FDIC. Equal Housing Lender.
FIS is a leading provider of technology solutions for merchants, banks and capital markets firms globally. Our employees are dedicated to advancing the way the world pays, banks and invests by applying our scale, deep expertise and data-driven insights. We help our clients use technology in innovative ways to solve business-critical challenges and deliver superior experiences for their customers. Headquartered in Jacksonville, Florida, FIS ranks #241 on the 2021 Fortune 500 and is a member of Standard & Poor’s 500® Index. To learn more, visit www.fisglobal.com.
Union Savings Bank