Kathleen Craig, founder and CEO of the fintech Plinqit, draws upon her background in fintech and banking — she was previously a client experience officer at a financial institution — to help Plinqit develop digital products for regional and community banks.
Plinqit offers a platform for integrating automated savings, data-driven financial wellness content and virtual account management. The company now works with more than 50 banks and credit unions to help them attract low-cost deposits and new clients and broaden their market footprint.
As interest rates have remained high, banks and credit unions have prioritized attracting and retaining deposits. Given this need, one of Craig's most notable achievements is the recent rollout of a new product called High Yield Savings by Plinqit. The product, which Craig and her team developed in just six months, uses Plinqit's proprietary backend ledger platform and allows lenders to launch a separate digital brand to reach new customers.
Through High Yield Savings, one bank has brought in more than $10 million in deposits within the first month after its launch, according to Plinqit. A significant portion of these deposits came from customers of major national banks, underscoring the broad appeal and efficacy of HYS in attracting diverse audiences, according to Plinqit.
Craig's leadership extends beyond product innovation to encompass strategic partnerships and advocacy within the industry. She mentors budding fintech founders and sits on the boards of the Michigan Founders Fund and the Association for Financial Technology, leveraging her expertise to shape the future of the fintech and financial services sector. She also regularly speaks at industry trade shows and conferences and is also a member of the Forbes Finance Council.
