A Cambridge Savings Bank sign over the lender's Kendall Square ATM

Banker & Tradesman file photo

Since launching as a digital-only bank two years ago, Ivy Bank has already over $530 million in deposits and 6,600 national customers, according to its parent, Cambridge Savings Bank.

Ivy – the digital banking arm of CSB – saw six times greater deposit growth than CSB’s physical branches and offices. Deposits also exceeded Ivy’s 2022 goal by 64 percent. Ivy expands CSB’s customer base to reach national via its online and mobile banking services.

Other than traditional banking services such as opening savings account, Ivy offers higher-interest savings products, in-app tools to create and manage personal budgets, and monitor credit.

“Our mission has always been to treat every customer like our only customer, and with Ivy Bank, we’ve extended that approach to consumers nationwide. In today’s landscape, consumers seek an enhanced banking experience that prioritizes convenience, security, and the opportunity to optimize their earnings,” Katie Catlender, CSB executive vice president and chief customer officer, said in a statement. “At CSB, we augment these capabilities with a compassionate team of professionals who genuinely care and offer invaluable advice and guidance, especially during times of uncertainty. We take great pride in our top NerdWallet ratings, as well as our industry-leading Net Promoter Score (NPS) scores, reflecting our continued commitment to delivering exceptional service and experiences that matter.”

CSB’s Digital Ivy Bank Reports Over $530M in Deposits in 2 Years

by Nika Cataldo time to read: 1 min