SAN DIEGO: Bankjoy, a leading digital banking provider, today unveiled JoyCompass, a next-generation personal finance platform that helps community financial institutions (CFIs) drive growth through client engagement. The announcement was made at the Corelation Customer Conference in San Diego, where Bankjoy is showcasing its groundbreaking platform to industry leaders.

JoyCompass represents a fundamental shift in personal financial empowerment. The platform is seamlessly embedded into users’ digital banking experience, helping credit unions and community banks fulfill their mission of supporting members' financial wellness while providing these institutions with valuable data to increase client engagement and total relationship value.

"JoyCompass enables growth by delivering on the original mission that made community banking special through the branch, now accomplished digitally: building meaningful, personal relationships and helping people succeed financially," said Mike Duncan, founder and CEO of Bankjoy. "JoyCompass solves the engagement challenge through gamified financial wellness tools that members actually want to use, delivering value for users and critical data for financial institutions. It creates a virtuous cycle that benefits both the client and the institution."

JoyCompass delivers on critical market needs

A recent report from Accenture highlights the urgent need for solutions like JoyCompass:

• 40% of customers lack basic financial knowledge, while 88% of Gen Z and Millennials are eager to expand their financial literacy
• 72% of customers say personalization affects their banking choices, yet institutions often lack effective personalization tools

JoyCompass directly addresses these gaps by providing a comprehensive financial wellness platform with personalized education tools, a unique financial health scoring system, and gamification that breaks down intimidating financial concepts into approachable challenges.

Unlike traditional personal finance management tools that are often siloed and underused, JoyCompass is fully integrated into the digital banking experience, making financial wellness features easily discoverable.

Early pilot success: Ellafi Federal Credit Union sees rapid member adoption

Ellafi Federal Credit Union, formerly known as Seasons Federal Credit Union, recently implemented JoyCompass as part of its strategic rebrand focused on financial inclusivity for women and those who support them. Ellafi selected the platform to deliver personalized, data-driven financial guidance that reflects the diverse goals of its evolving membership.

Implementation results exceeded expectations, with JoyCompass achieving over 18% member adoption within the first 24 hours of launch—a significant benchmark in digital banking platform deployment.

“Ellafi’s rebrand reflects a commitment to closing financial gaps, fostering independence, and helping members thrive at every stage of their financial journey—particularly women who have historically been underserved by the financial industry. That commitment aligns perfectly with JoyCompass’ mission to empower people with the financial insights they need to thrive,” says Dillon Tardif, Vice President of Marketing and Digital Products, Ellafi Federal Credit Union.

Bankjoy welcomes seven new financial institutions in Q1 2025

The JoyCompass launch comes amid significant expansion for Bankjoy, with seven new institutions joining the Bankjoy family in the first quarter of 2025 alone. These institutions include Healthcare Systems Federal Credit Union, PAHO/WHO Federal Credit Union, Vista National Bank & Trust, Peake Federal Credit Union, Tennessee Employees Credit Union, La Joya Federal Credit Union, and an additional Iowa-based institution.

Thanks to Bankjoy's extensive integrations with multiple core providers—including Corelation, Fiserv, Jack Henry, Flex, Share One, and more—new institutions can be live on the Bankjoy platform in weeks, not months.

JoyCompass positions community financial institutions to meet the evolving needs of their account holders while driving institutional growth through deeper engagement and data-driven insights.

For more information about JoyCompass, visit pages.bankjoy.com/joycompass.

About Bankjoy

Founded in 2015, Bankjoy delivers modern banking technology and elegantly designed financial solutions to banks and credit unions. The company's mission is to uplift communities in partnership with community financial institutions by providing technology that enhances people's everyday financial lives and reconnects these institutions to their community roots. Bankjoy's suite of products includes online and mobile banking, conversational AI, online account opening, loan origination, personal financial management, and statements. For more information, visit www.bankjoy.com.

Fonte: Business Wire