Merging Fintech with Legacy Banking


Who icon

$4.8 billion in assets; 240,000 customers. Chartered in 1825; Oldest mutual bank in CT.


What icon

As an early adopter to the power of fintech, building a proprietary, integrated, dynamic personal financial management tool was a top priority.


Why icon

To allow customers a one-stop, seamless money management experience while also providing Liberty with the information that could help our customers better reach their financial goals.


Solution icon

A custom built Geezeo-powered white label, digital financial management tool called Money Manager, launched in January 2018.


The Challenge

With digitization sweeping through the financial management experience, financial institutions need to be proactive in transitioning their businesses to the new expectations of younger customers. Ideally, FIs need to build a bridge between the very ‘name and face’ characteristics that make them unique and important institutions while also helping empower customers with the powerful digital financial tools that fintech firms provide.

In this case, a leading $4.8 billion New England bank with a 193-year history was looking to help its individual and commercial customers manage their finances and attain their financial goals with the latest in digital financial management tools powered by Geezeo.

This is where its digital banking platform comes in, and its Money Tracker PFM in particular. The goal is to use the PFM as a differentiator; an easy-to-use, powerful PFM with a local flavor.

The Client

Established in 1825, Liberty Bank is Connecticut’s oldest bank, with 55 offices throughout the central, eastern, western and shoreline areas of the state.

As a full-service financial institution, Liberty offers consumer and commercial banking, home mortgages, insurance, and investment services. Named as a “Top Workplace” by the Hartford Courant for six consecutive years, Liberty maintains a longstanding commitment to superior personal service and unparalleled community involvement.

The Goal

Liberty was interested in building an innovative, holistic digital financial experience for its customers. It wanted to marry its community bank brand with the expanding opportunities digital financial management offer.

“We were noticing that a growing number of our customers were signing up for online personal financial management (PFM) tools,” said Chief Marketing Officer Patricia Jatkevicius. “We realized that there was an opportunity here for us. Not only could we add value to our relationship with our customers by giving them a tool powered by their bank, but we could also use the data to find out how we could serve them better.”

With a growing variety of online tools and apps the competition for customers’ attention is increasing. But building value into your own site is not only good for customers, but good for business.

“We decided to build our digital financial management site Money Manger and a key part of powering that was the PFM,” observed Jatkevicius. “Our best customers tend to use these tools the most – ones with higher transactions and multiple accounts. Money Manager will not only help customers budget; they’ll get better at learning how to save and make smarter-spending decisions over time. The tool will also help them be more cautious of financial risks and aware of future life events that may alter their spending habits.”

At Liberty, Money Manager for consumers is available through a tab within the Online Banking platform. Additional features such as Geezeo’s TruBiz, which empowers small business customers, and the Spend & Save application, for short-term financial goal tracking, will be added in 2018.

The Geezeo Difference

“After a lengthy and thorough vetting process, we chose Geezeo as our PFM partner for a number of reasons,” reflected Jatkevicius.

“First and foremost, it’s a great fit for Liberty’s customers: It’s easy to use and intuitive for new users, yet innovative and granular enough for savvier users that want more robust capabilities without being overwhelming (progressive functionality to serve an array of needs). And the ongoing development/addition of new features – means that we have an ever-evolving platform that won’t get antiquated.”

“Best of all, Geezeo’s team was a joy to work with. Add to that, Geezeo has a Connecticut office. With Liberty’s nearly two century history of service in the state, it was great to work with a local firm that had the kind of vision, talent and flexibility to help build our Money Manager.”

“Bear in mind, Money Manager is one piece of a larger digital initiative. Geezeo stepped in as a great partner right from the beginning and was super responsive (more than just a vendor relationship; a true partnership).”

“What’s more, after helping us with Money Manager, Geezeo helped to create a library of Liberty Online Banking educational videos for customers, which also lives on our new website. And through it all, Geezeo’s staff has been very patient and helpful, even when given tight deadlines.