#DigitalBanking / Digital Bank HMBradley Raises $18.25M To Accelerate Credit Program

HMBradley, described as “a digital banking platform for savers,” rewards account holders based on how much of their deposits they save each month, paying up to 3 percent interest on savings.

While the institution brands itself with its saving incentives, it is expanding its credit offerings by launching the HMBradley Credit Card in July. The card offers 3 percent cash back in the cardholders’ highest spending category, 2 percent for their second-highest spending category and 1 percent in all other categories. The card adapts rewards based on the users’ changing spending habits.

[Co-founder, CEO:] “We started HMBradley with the thesis that people of all income brackets want to save money, but they sometimes need a little help or incentive to do that.”

… the challenger bank was born out of his desire find a bank where customer service does not depend on how much money is in the account, and customers aren’t made to feel like “some schmuck with [an] account number.”