Locality Bank Selects Swaystack to Personalize Digital Engagement

Locality Bank selects Swaystack’s personalized engagement platform to bridge the divide between new account opening and digital banking. 

46% of newly opened accounts go inactive within the first year (Jim, Marous, The Financial Brand). With the cost of acquisition for new accounts well over $200, banks face a dual strain: coming out of pocket to acquire customers, while nearly half of those accounts go inactive.

“Our partnership with Swaystack is a game-changer for us at Locality Bank,” explained Corey LeBlanc, COO and Co-founder. “It bolsters our ability to deeply understand our customers from the very beginning of the relationship. Soon, we can deliver personalized insights, next best action, and product recommendations at the most opportune time. This data-driven approach helps us meet our customer expectations for personalized banking and will boost retention by ensuring that our customer experience is engaging, relevant, and individually tailored.”

In today’s economy, banks across the nation are chasing low-cost, core deposits and non-interest, interchange income. By deploying Swaystack’s frictionless, 60-day new account onboarding journeys, Locality Bank can win primary financial institution status with customers immediately after they open an account; taking a strong step towards its goals of empowering local businesses to maximize their potential.

We are excited to partner with Locality Bank to accomplish two important objectives: serve the South Florida business community and help Locality Bank punch above its weight using the power of data.”

— Har Rai Khalsa, CEO and Co-founder of Swaystack

The Swaystack platform boosts the value Locality Bank currently generates from its next-gen digital banking and marketing automation platforms by deploying:

  • Engagement widgets
  • Intelligent audience segmentation
  • Templated campaigns with content creation
  • Cross-channel journeys with real-time triggers
  • Campaign analytics

Har Rai Khalsa, CEO and Co-founder of Swaystack shared his enthusiasm: “We are excited to partner with Locality Bank to accomplish two important objectives: serve the South Florida business community and help Locality Bank punch above its weight using the power of data. For a community bank focused on differentiating through its digital presence, predicting customer needs and activating the wealth of data Locality Bank already has is the fastest path to deliver a personalized banking experience. This collaboration positions us to transform community banking by providing actionable insights that enhance customer engagement,” stated Khalsa. “Our commitment to Locality Bank reflects our dedication to helping banks stay top of wallet while connecting with and serving their communities.”

The collaboration between Swaystack and Locality Bank marks a strategic advancement in community banking, one positioned to offer more targeted financial products and services. According to industry analysis, implementing advanced analytics tactics can lead to a revenue increase that is three times faster than market growth, demonstrating the substantial economic benefit of insights-driven customer engagement (McKinsey, 2023) and underscoring the impact of this partnership to transform customer interactions and drive business growth.

To personalize your onboarding and engagement journeys, schedule a discovery call.

About Locality Bank

Locality Bank is a digital-first community bank based in Fort Lauderdale, Florida. The bank serves local businesses by offering the traditional services of a community bank as well as user-friendly, cutting-edge technology. The digital-first community bank is located at 1400 South Andrews Avenue, Fort Lauderdale. To learn more, contact Locality Bank by calling 954-799-0900, visiting www.localitybank.com or via email at info@localitybank.com. You can also follow Locality Bank on Facebook, X, LinkedIn, Instagram, and YouTube.

About Swaystack

Swaystack, a personalized engagement platform is spearheaded by second-time founders who share a passion for helping banks and credit unions compete with megabank and neobank technology. Har Rai Khalsa began his career as a lender in 2007, co-founded MK Decision in 2015 to help banks and credit unions compete with digital account opening, which was acquired by Alkami in 2021. Simran Singh Co-founded Zogo in 2018. As the CTO of Zogo, he helped 250+ financial institutions gamify financial education to over 1.1 million users. Simran and Har Rai have a collective 20+ years in fintech and have served over 300+ financial institutions with the companies they’ve built.