Harvest Savings & Wealth Technologies collects $23m in round of debt and equity

Harvest Savings & Wealth Technologies, a solution provider for the financial industry, has collected $23m in a round made of equity and debt.

The company closed the round in conjunction with a rebrand from its former name Trizic. Its new brand signifies its continued expansion into providing “tightly integrated savings and wealth solutions for banks and credit unions,” it said.

Capital from the round, which was supplied by unnamed backers will be used to further the growth of the platform.

Harvest has revealed two new products: Goalkeeper and Signals. The Goalkeeper solution is a white-labelled, automated micro-savings solution which enables financial institutions to deliver unlimited goals-based savings accounts to their customers for no monthly fees.

Bank customers can establish as many goal accounts as they wish, and then select automated funding method to save money and reach financial goals.

Its other new solution, Signals, is an actionable business intelligence layer which runs across a financial institution’s retail and wealth core systems. Specified patterns are tracked daily which enables actions which offer tightly integrated savings and wealth solutions across the value chain.

Harvest CEO Drew Sievers said, “With Goalkeeper and Signals, we are rounding out a bank-wide offering and solving some of the key problems facing banks and robo-advice.

“Working together, the products let banks stem the outflow of deposits going to micro-saving, micro-investing, and traditional investment companies. As bank customers move through their savings goals, Signals also assists them in moving further upstream into the wealth and trust divisions of the bank.”

Copyright © 2019 FinTech Global

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