BERKELEY, Calif.–(BUSINESS WIRE)–Wings Financial Credit Union ($6.5 billion in assets) will now offer Access Softek’s EasyVest robo-advisor investing solution to its more than 300,000 members to make investing simpler and more accessible.
Access Softek, Inc., an omnichannel digital banking platform provider, created EasyVest to give financial institutions a solution that simplifies investing and makes it available to the average member for a minimum as low as $200. With the increasing level of competition in the wealth management space, Access Softek’s EasyVest is the first and only robo-advisor that seamlessly integrates into online banking to help credit unions enhance their wealth management programs and compete with third-party investment apps.
While EasyVest helps Wings compete with outside players, it simultaneously complements the credit union’s existing wealth management program. EasyVest makes investing more widely available to members and allows them to easily grow their wealth. Once their assets reach a certain size, members are prompted to form a relationship with the credit union’s wealth management advisor.
“We have worked with Access Softek for more than seven years, and we trust the solutions they create. When they launched this robo-advisor, we knew this would be an important tool in our wealth management strategy,” said Frank Weidner, President & CEO of Wings Financial Credit Union. “Digital services are crucial for our members and providing them with an online and mobile investing solution helps us continue our mission of being full-service via digital channels.”
EasyVest uses a series of questions to assess the consumer’s timeframe, risk appetite, income and investment goals then suggest the right investment portfolio for them. Consumers can use the solution to invest in individual or retirement accounts, purchase fractional shares and automatically rebalance their portfolio. EasyVest features an array of low-cost, broad index ETF portfolios and includes ESG options as well as IRAs. With its intuitive dashboard, the ability to start small and transfer funds from other accounts or even set up recurring transfers, it has never been simpler for consumers to set up investments and let the technology do the hard work for them.
“Robo-advisors will become increasingly more crucial for credit unions in the coming days. They appeal to a younger and wider demographic, help keep valuable assets in the credit union, and increase its market share in wealth management,” said Chris Doner, founder and CEO of Access Softek. “During a time of historically low interest rates, non-interest income is critical for credit unions that want to stay successful. EasyVest is a simple solution that not only helps credit unions attract members but generates this crucial non-interest income. Wings is a great example of a credit union that looks ahead and finds opportunities to implement technology that helps them grow their membership today and in the future.”
About Wings Financial Credit Union
Wings Financial Credit Union is Minnesota’s largest credit union and one of the top credit unions nationally, with $6 billion in assets and over 290,000 members. In 2019, Wings was named one of the top ten credit unions nationally by Gobankingrates.com and in 2020 named a StarTribune top workplace for the eighth consecutive year.
Wings members enjoy some of the area’s best savings and lending rates, convenient mobile and online access, over 80,000 surcharge-free ATMs and 24 branch locations throughout the state of Minnesota, plus offices in Atlanta, Detroit, Orlando, and Seattle. Founded in 1938, Wings’ membership has grown to include anyone who lives or works in 24 Minnesota counties including the Minneapolis-St. Paul metro area. To learn more, visit www.wingsfinancial.com.
About Access Softek, Inc.
Access Softek sets the standard for the omnichannel digital banking landscape, having developed the first downloadable apps for mobile banking. Since that time, Access Softek has extended its track record of innovation to online banking, biometric authentication, real-time fraud prevention, and automated investing integrated directly into a financial institution’s digital banking platform, among many other innovative products. Since 2004, Access Softek has delivered industry firsts to over 400 bank and credit union clients from its Berkeley, California headquarters. Learn more at AccessSoftek.com.