Bits of Stock is a consumer rewards platform that enables financial institutions to offer fractional stock investments as rewards, enhancing customer engagement and loyalty. By integrating stock rewards and round-ups into banking services, the platform addresses the challenge of attracting younger demographics seeking investment opportunities while boosting deposits and card usage.
Funding
$4.5M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
YFounders
Product
Problem
Financial institutions face challenges in attracting and retaining younger customers while also seeking to increase deposits and card usage. Traditional rewards programs often fail to engage younger demographics who are looking for investment opportunities integrated with their banking services.
Solution
Bits of Stock offers a consumer rewards platform that enables financial institutions to provide fractional stock investments as rewards, thereby increasing customer engagement and loyalty. The platform integrates stock rewards and round-ups directly into existing banking services, providing an easy entry point to investing for new entrants. By offering fractional shares, the platform removes barriers associated with traditional investing, appealing to millennials and Gen Z. Financial institutions can use the platform's customizable web application or API to build a tailored platform.
Target Audience
The primary target audience includes banks and credit unions aiming to attract and engage younger demographics, increase customer loyalty, and boost deposits and card usage.
Features
- Fractional stock rewards linked to banking activities
- Stock round-ups that allow customers to invest spare change
- Custodial accounts for children to engage future bank account holders
- Customizable web application for fast integration with existing banking providers
- Full API for building a custom platform
- Mix-and-match widgets and web application modules for platform customization