Oregon, US-based Maps Credit Union and the Reseda Group, MSU Federal Credit Union’s (MSUFCU) wholly-owned credit union service organisation (CUSO), have partnered up to acquire Pocketnest, an AI-powered financial wellness platform, for an undisclosed sum.
Founded in 2017 by CEO Jessica Willis, Pocketnest leverages behavioural science and generative AI to deliver personalised financial guidance and education. The platform covers 10 core financial areas, ranging from budgeting and debt management to estate and tax planning, with a recently launched net worth view feature. The Michigan-based company targets both Millennials and Generation X consumers across the US through white-labelled solutions and its mobile application.
Pocketnest currently integrates with CU*Answers, Lumin Digital, and Nymbus banking platforms, with additional integrations planned for release.
“Many digital banking experiences prioritise transactions first, driving members to purchase products such as opening a line of credit or securing a loan,” the companies say in a joint statement. “The new Pocketnest-centred approach enables financial institutions to create a member experience that prioritises financial wellness, helping to establish a solid financial foundation before recommending transactions.”
Beyond enhancing member financial wellness, the acquiring organisations also plan to leverage Pocketnest’s analytical capabilities. The platform generates insights that can help create new revenue streams through improved product engagement, increased deposits, and enhanced cross-selling opportunities, while informing institutional strategy.
Reseda has maintained a financial interest in Pocketnest since 2022, when it co-led a $1.95 million seed round alongside ID Ventures and The Impact Seat. Following this investment, Reseda made Pocketnest’s technology available to all MSUFCU members.
Source: https://www.fintechfutures.com/
