Banking as a service

Radius Bank is the first bank to offer a savings account within NerdWallet’s mobile app

  • NerdWallet now offers a Radius savings account to its users.
  • Radius Bank partnered with the personal finance manager on this product launch.
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Radius Bank is the first bank to offer a savings account within NerdWallet’s mobile app

NerdWallet is now offering a savings account within its mobile app via a partnership with Radius Bank.

What's happening: Personal finance users will be able to open up a Radius high interest savings account directly from NerdWallet's mobile app.

  • This is the first banking partnership NerdWallet has formed of this kind.
  • Upon completing the Radius online application, account holders will receive an annual percentage yield on all balances, no monthly fees and a complimentary ATM card.
  • Credit Karma recently launched its own savings account in partnership with MVB Bank as personal finance advice platforms move further into managing, storing, and moving their users' money.

Radius Bank, for its part, is also forging new partnerships during 2019, including deals with Brex, MaxMyInterest, Wallit, NorthOne, and Stackin’.

  • Radius hopes to provide other banking products and services to NerdWallet customers as the partnership progresses, according to a company spokesperson.
  • The Boston-based bank has banking as a service partnerships that use its API technology created with Treasury Prime to embed its banking products in third party sites and apps.
  • Radius also signs partnerships with leading fintech firms to include them in its own Marketplace, making them available to its own customers through its digital and mobile channels.

“We have long admired NerdWallet’s rigor and success in offering the tools and honest advice that people need to make intelligent decisions about their finances,” said Mike Butler, president and CEO of Radius Bank.

“We’re excited to launch this partnership that makes applying for and opening an account within the NerdWallet app easier than ever."

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