Banking Up Launches at FinovateSpring, Lets Any Business Offer Customers a Trusted Alternative to Traditional Banking

Banking Up launches at FinovateSpring today a first-of-its-kind personal finance platform that lets banks and businesses provide customers with a smart, mobile alternative to traditional checking accounts. Along with the launch, Plastyc Inc., which developed Banking Up, announced that it is now doing business as Banking Up.

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It's time to take banking in the 21st century. Banking Up makes banking truly mobile and reduces the barriers to access by helping people find quality financial services right where they do their daily business,

San Francisco, CA (PRWEB) May 15, 2013

Banking Up launches at FinovateSpring today a first-of-its-kind personal finance platform that lets banks and businesses provide customers with a smart, mobile alternative to traditional checking accounts. Along with the launch, Plastyc Inc., which developed Banking Up, announced that it is now doing business as Banking Up.

Over 24 million households have poor access to mainstream banking, and 91 percent have mobile phones and smartphones, according to the FDIC. Banking Up gives banks and businesses a scalable way to provide customers in their local communities with an affordable, high-quality banking option.

"Banking Up is committed to helping mid-to-large size businesses that serve local communities offer customers accounts that they can trust, regardless of their income, age or bankability," said Patrice Peyret, CEO of Banking Up.

Banking Up provides a complete, private-label service that businesses can brand as their own. Customers benefit from FDIC insured accounts and fully mobile banking on iPhones, Android phones, non-smart phones and the web. The accounts include online check-writing, bill paying, direct deposits, photo check deposits, automated savings and more. The accounts can include a Visa or MasterCard card accepted everywhere debit cards are accepted, and eligible businesses offering the service can earn up to 50 percent of the interchange fee for qualified accounts. Or, the platform can extend current card programs for banks that already issue their own prepaid cards.

Banking Up makes it easy and cost-effective to reach more customers with a trusted financial service. It includes customer relationship management tools to enroll customers, engage them with email, mobile alerts and loyalty programs and enhance their experience based on real-time analytics and reporting.

The platform also includes the back-end links with the card networks, processors, the issuing banks and the electronic payment network that enables direct deposit of payroll, social security and other government benefits and tax refunds. Banking Up's customer care handles all account inquiries through online help and US-based live agents.

Although Banking Up is a new product for banks and businesses, the platform already has supported over $2.2 billion of transactions servicing consumer products such as H&R Block's Emerald MasterCard Prepaid Card and the UPside Visa Prepaid Card, a multi-time winner of the Paybefore Awards.

"It's time to take banking in the 21st century. Banking Up makes banking truly mobile and reduces the barriers to access by helping people find quality financial services right where they do their daily business," said Mike Harris, managing director of Core Venture Capital, a Los-Angeles based fund that invests in the most innovative companies serving underbanked consumers in America.

About Banking Up

Banking Up is a leading online and mobile financial services company, providing businesses, banks and their consumers with smart, technology-forward personal finance products. The Banking Up platform enables businesses and banks to offer customers full-featured checking account services on top of easy-to-deploy, low-cost prepaid card accounts. Its consumer-facing product, the UPside Visa online and mobile account, provides consumers with an attractive alternative to traditional checking accounts. Plastyc, Inc., now doing business as Banking Up has won multiple awards for serving underbanked consumers. Its partners include the Consumer Financial Protection Bureau, Center for Financial Services Innovation, H&R Block, GreenDot and Walmart. BankingUP’s principals and directors have a track record as financial services innovators at companies including Gemalto, Oberthur, Signio (now part of PayPal, an eBay company), ClairMail (now part of Monitise), Lending Club, and Genetic Finance. Banking Up is privately held with headquarters in New York City. For more information, visit http://www.bankingup.com


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