Bank of Guam, operating in Guam and the Western Pacific, has joined forces with Spiral to introduce new digital banking features designed to encourage savings.
Through this collaboration, Bank of Guam customers will have access to Spiral’s Savings Center, which includes functions such as automatic savings and personalised goal tracking.
Clients will be able to set targets for significant purchases or milestones, including property ownership, business ventures, vehicles, or travel.
Bank of Guam CEO and senior vice president Lesley Leon Guerrero said: “Our mission is to strengthen the financial well-being of our communities.
“With Spiral, our customers can reach their dreams while giving back to the causes they love-turning everyday banking into a force for good benefiting their families and our community.”
The service will offer an option for customers to round up everyday transactions, directing the difference into personal savings or contributions to nonprofit groups.
A separate Giving Center will also be introduced, enabling direct donations from user accounts, with features for tracking charitable activity and generating reports for tax documentation.
Bank of Guam plans to use these tools to further its involvement with local nonprofits by facilitating fundraising efforts, donation matching, and supporting events.
These initiatives complement the bank’s continuing Financial Empowerment Program, which provides financial education resources to various groups in the community.
Spiral’s technology is intended to support these efforts by linking financial management tools with the opportunity for community engagement through banking activities.
Spiral founder and CEO Shawn Melamed commented: “Bank of Guam is leading the way in helping customers save more and make a difference.
“We’re proud to empower more banks to grow deposits, deepen relationships, and become the primary institution in their communities.”
“Bank of Guam and Spiral partner on new digital savings tools” was originally created and published by Retail Banker International, a GlobalData owned brand.
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