Partnership for Financial Wellness: Lake City Bank's collaboration with Spiral introduces the SpendSave solution, integrating Spiral's Roundup Center to enable customers to automatically save spare change from debit card purchases, which is expected to significantly enhance customer savings and community impact.
Digital Transformation: This solution not only supports customers' savings goals but also allows them to donate spare change to local and national nonprofits, promoting community development and potentially increasing customer loyalty and the bank's competitive edge.
Community Support: Customers can choose to allocate their roundups entirely to savings or split them between charitable giving, particularly in areas like affordable housing and financial education, which is expected to enhance the bank's reputation and influence within the community.
Integration Advantage: Spiral's solutions seamlessly integrate with leading digital banking providers and core systems, which is anticipated to help Lake City Bank increase deposits and customer retention, driving long-term business growth.
LKFN
$59.91+Infinity%1D
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About LKFN
Lakeland Financial Corporation is a bank holding company, which provides, through its subsidiary Lake City Bank (the Bank), a range of financial products and services throughout its Northern and Central Indiana markets. It offers commercial and consumer banking services, and trust and wealth management, brokerage, and treasury management commercial services. It serves a diverse customer base, including commercial customers across a wide variety of industries, including commercial real estate, manufacturing, agriculture, construction, retail, wholesale, finance and insurance, accommodation and food services, and healthcare. The Bank serves Central and Northern Indiana communities with 54 branch offices in 15 counties and a robust digital banking platform. The Bank’s deposits are insured by the Federal Deposit Insurance Corporation (the FDIC) to the maximum extent provided under federal law and FDIC regulations. It also provides credit card services to retail and commercial customers.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
