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FinTech Breakthrough Names CIT Bank Best Personal Finance Company

April 04, 2019, 08:00 AM
Filed Under: Banking News

CIT Bank, CIT Group's national online bank, announced it has been selected as winner of the Best Personal Finance Company award by FinTech Breakthrough, an independent organization that recognizes the top companies, technologies and products in the global fintech market.

CIT Bank is a leading online bank in the U.S. and most recently launched Savings Builder, a digital savings account designed to reward customers who build a habit of saving. Consumers can qualify for a top interest rate either by consistently saving at least $100 each month or by maintaining a balance of $25,000 or more.

"We are pleased to receive this recognition highlighting our efforts to provide customers the financial agility they need to meet their goals," said Ravi Kumar, head of Internet Banking for CIT Bank. "We believe the Savings Builder account is unique in offering smart savings strategies for consumers regardless of where they are in their financial journey."

This year's awards program attracted more than 3,500 nominations from across the globe in the categories of Payments, Personal Finance, Wealth Management, Fraud Protection, Banking, Lending, RegTech, InsurTech and more. The Best Personal Finance Company category, in which CIT Bank was honored, is considered one of FinTech Breakthrough's marquee awards.

"Building a habit of saving is a critical step toward achieving financial security," said James Johnson, managing director of FinTech Breakthrough. "This year, CIT Bank rose above the pack as a result of its compelling personal savings products that make it easier for users to build healthy savings habits."

The 2019 FinTech Breakthrough Award winners include:

Industry Leadership       

Best FinTech Startup: Marqeta
Best Overall FinTech Software: eMoney Advisor
Best Overall FinTech Mobile App: Twine by John Hancock
Best FinTech CEO: Phillip Rosen, Even Financial
Best Overall FinTech Company: Adyen

Personal Finance       

Best Personal Finance Platform: Tiller
Best Personal Finance Company: CIT Bank
Best Digital Mortgage Product: Fiserv Inc., LoanComplete
Digital Mortgage Innovation Award: LendingHome


Best Consumer Payments Platform: Western Union
Best Consumer Payments Company: WorldRemit
Best Small Business Payments Solution: TSYS, Vital
Best Credit Card Payments Solution: American Express, American Express Go
Best B2B Payments Platform: Fundbox

Consumer Banking       

Best Digital Bank: Starling Bank
Banking Innovation Award: HSBC Bank USA, N.A.

Consumer Lending       

Best Consumer Lending Platform: Kasasa
Best Consumer Lending Company: Laurel Road
Best Overall Peer-to-Peer Lending Company: LendingClub
Innovation Award for Consumer Lending: Gusto
Best Overall LendTech Company: Laurel Road

Business Lending       

Best Business Lending Platform: ProfitStars, a Jack Henry Company - Commercial Lending Center Suite
Best Business Lending Product: Numerated
Best Small Business Lending Solution: Nav

Wealth Management       

Best Wealth Management Platform: Addepar
Best Wealth Management Product: Moody's Analytics
Innovation Award for Wealth Management: BaseVenture
Best Robo Advisory Platform: Betterment


Best Stock Trading App: Voleo
Best Institutional Investment Platform: Charles River Development
Best Real Estate Investment Platform: Fundrise
Best Trading Platform: ParFX

Financial Research and Data       

Best Overall Analytics Platform: Experian, Ascend Analytical Sandbox
Best Predictive Analytics Platform: Corvil
Best Risk Management Service: Numerix
Best Data Visualization Solution: Credit Suisse AG, Finance Portal
Analytics Innovation Award: Corvil

Banking Infrastructure       

Best Banking Infrastructure Software: OnCorps
Best Banking Transaction Solution: Banking Circle, Banking Circle Virtual IBAN

Fraud Prevention and Transaction Security       

Best Fraud Prevention Platform: NuData Security, a Mastercard company
Fraud Prevention Innovation Award: NICE Actimize, IFM-X Enterprise Fraud Platform
Best Financial Transaction Security Platform: FourStop GmbH


InsurTech Innovation Award: Ladder
Best InsurTech Solution: Root Insurance


Best RegTech Solution: TD Securities, Insight Node ML
Best RegTech Company: BGL Corporate Solutions
RegTech Innovation Award: Workiva


Best Procure-to-Pay Software: Yooz Inc.


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